Overview
- MSC Industrial Direct, a distributor of factory tools and supplies, reported fiscal second-quarter results that missed Wall Street forecasts on profit and revenue.
- GAAP earnings were $0.76 per share and adjusted earnings were $0.82 per share, both shy of the roughly $0.84 consensus.
- Revenue totaled $917.8 million, falling below analyst expectations that clustered around $931 million to $934 million.
- The shares, which closed the prior session at $92.27 after a 2.6% gain, fell about 5% in pre-market trading following the results.
- Management guided to third-quarter average daily sales growth of 5% to 7% and an adjusted operating margin of 9.7% to 10.3%.