MSC Industrial stock drops after profit beat expectations but revenue fell shy [MarketWatch]
MSC Industrial Direct Company, Inc. (MSM)
Last msc industrial direct company, inc. earnings: 4/8 06:30 am
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Source: MarketWatch
Shares of MSC Industrial Direct Co. dropped 4.0% in premarket trading Wednesday after the metalworking and maintenance, repair and operations (MRO) company reported a fiscal second-quarter profit that topped expectations but sales that fell shy. Net income for the quarter to Feb. 27 declined to $18.1 million, or 32 cents a share, from $55.5 million, or $1.00 a share, in the year-ago period. Excluding nonrecurring items, such as $30 million in personal protective equipment (PPE) write-downs, adjusted earnings per share rose to $1.03 from $1.02, above the FactSet consensus of $1.02. Sales fell 1.5% to $774.0 million, missing the FactSet consensus of $778.8 million. "The improving environment and continued execution of our growth and cost take-out programs are combining to position us well," said Chief Executive Erik Gershwind. "We are now emerging as a stronger company and are poised to reaccelerate growth." The stock, which closed at a near 3-year high on Monday, has rallied 8.6% year
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MSM
News
- Here's Why Industrial Stocks Are Set for a Tough Earnings Season [Yahoo! Finance]Yahoo! Finance
- MSC Industrial Direct Co., Inc. (NYSE: MSM) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Do These 3 Checks Before Buying MSC Industrial Direct Co., Inc. (NYSE:MSM) For Its Upcoming Dividend [Yahoo! Finance]Yahoo! Finance
- MSC Industrial Direct (MSM) Q2 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- MSC Industrial (MSM) Q2 Earnings Beat Estimates, Revenues Miss [Yahoo! Finance]Yahoo! Finance
MSM
Earnings
- 3/28/24 - Beat
MSM
Sec Filings
- 3/28/24 - Form 10-Q
- 3/28/24 - Form 8-K
- 3/26/24 - Form 8-K
- MSM's page on the SEC website