MSC Industrial: Fiscal 1Q Earnings Snapshot
MELVILLE, N.Y. (AP) _ MSC Industrial Direct Co. (MSM) on Wednesday reported fiscal first-quarter profit of $74.2 million.
The Melville, New York-based company said it had profit of $1.33 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The distributor of industrial tools and supplies posted revenue of $831.6 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $830.3 million.
For the current quarter ending in March, MSC Industrial said it expects revenue in the range of $817 million to $833 million. Analysts surveyed by Zacks had expected revenue of $836.3 million.
MSC Industrial shares have increased slightly more than 1 percent since the beginning of the year. The stock has dropped 21 percent in the last 12 months.