MSC Industrial: Fiscal Q2 Earnings Snapshot
MELVILLE, N.Y. (AP) _ MSC Industrial Direct Co. (MSM) on Wednesday reported fiscal second-quarter earnings of $18.1 million.
The Melville, New York-based company said it had profit of 32 cents per share. Earnings, adjusted for asset impairment costs and restructuring costs, came to $1.03 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The distributor of industrial tools and supplies posted revenue of $774 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $779.7 million.
MSC Industrial shares have climbed nearly 9% since the beginning of the year. The stock has climbed 61% in the last 12 months.