UPDATE: MSC Industrial Posts Rise In Q3 Profit, Issues Downbeat Q4 Forecast
MSC Industrial Direct Co (NYSE: MSM) reported a rise in its third-quarter profit and issued downbeat earnings forecast for the current quarter.
MSC Industrial projects Q4 earnings between $1.05 and $1.09 per share, versus analysts' estimates of $1.10 per share.
MSC Industrial's net income for the third quarter climbed to $70.2 million, or $1.10 per share, versus $62.1 million, or $0.97 per share, in the year-ago period.
Its sales gained 15% to $612 million. However, analysts were expecting earnings of $1.11 per share on revenue of $617.3 million.
MSC Industrial shares gained 1.33% to $63.25 at 9:40 am.
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