MSC Industrial: Fiscal 3Q Earnings Snapshot
MELVILLE, N.Y. (AP) _ MSC Industrial Direct Co. (MSM) on Wednesday reported fiscal third-quarter net income of $79.1 million.
On a per-share basis, the Melville, New York-based company said it had net income of $1.39.
The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of $1.39 per share.
The distributor of industrial tools and supplies posted revenue of $828.3 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $832.1 million.
For the current quarter ending in August, MSC Industrial expects its per-share earnings to range from $1.26 to $1.32. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.35.
The company said it expects revenue in the range of $829 million to $844 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $838.2 million.
MSC Industrial shares have fallen 12 percent since the beginning of the year. The stock has dropped 4 percent in the last 12 months.