MSC Industrial: Fiscal 3Q Earnings Snapshot
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.