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MSC Industrial: Fiscal 2Q Earnings Snapshot

MELVILLE, N.Y. (AP) _ MSC Industrial Direct Co. (MSM) on Wednesday reported fiscal second-quarter earnings of $68.4 million.

The Melville, New York-based company said it had profit of $1.24 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 $1.26 per share.

The distributor of industrial tools and supplies posted revenue of $823 million in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $827 million.

For the current quarter ending in June, MSC Industrial expects its per-share earnings to range from $1.46 to $1.52. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.61.

The company said it expects revenue in the range of $874 million to $891 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $888.2 million.

MSC Industrial shares have climbed 9 percent since the beginning of the year. The stock has dropped nearly 9 percent in the last 12 months.


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