MSC Industrial Direct Co Q2 Adj. EPS $1.18 Beats $1.16 Estimate, Sales $935.30M Miss $946.55M Estimate
Portfolio Pulse from Benzinga Newsdesk
MSC Industrial Direct Co (MSM) reported Q2 adjusted EPS of $1.18, surpassing the $1.16 estimate, but its sales of $935.30M fell short of the $946.55M estimate. This represents an 18.62% decrease in earnings and a 2.74% decrease in sales from the same period last year.
March 28, 2024 | 10:31 am
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MSC Industrial Direct Co reported a mixed Q2 with earnings beating estimates but sales missing expectations, indicating a decrease in both earnings and sales year-over-year.
The mixed results with an earnings beat but a sales miss could lead to neutral short-term stock price movement. Investors might be encouraged by the earnings beat, but concerned about the sales miss and year-over-year declines.
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