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MSC Industrial: Fiscal 3Q Earnings Snapshot

July 10, 2019

MELVILLE, N.Y. (AP) _ MSC Industrial Direct Co. (MSM) on Wednesday reported fiscal third-quarter earnings of $79.6 million.

The Melville, New York-based company said it had profit of $1.44 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.45 per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The distributor of industrial tools and supplies posted revenue of $866.5 million in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $881.8 million.

For the current quarter ending in August, MSC Industrial said it expects revenue in the range of $835 million to $851 million. Analysts surveyed by Zacks had expected revenue of $881.6 million.

MSC Industrial shares have declined 6% since the beginning of the year. The stock has dropped 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSM at https://www.zacks.com/ap/MSM

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