MSC Industrial Reports Preliminary Q3 Net Sales Of Approximately $978M-$980M, Down 7.3%-7.1% Y/Y; Est $1.022B
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MSC Industrial reported preliminary Q3 net sales of approximately $978M-$980M, down 7.3%-7.1% year-over-year, missing the estimated $1.022B. The company also lowered its full-year 2024 outlook due to ongoing manufacturing softness and issues with their web price realignment.
June 13, 2024 | 8:34 pm
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MSC Industrial reported preliminary Q3 net sales of $978M-$980M, down 7.3%-7.1% year-over-year, missing the estimated $1.022B. The company also lowered its full-year 2024 outlook due to ongoing manufacturing softness and issues with their web price realignment.
The preliminary Q3 net sales are significantly below estimates, and the company has lowered its full-year 2024 outlook. This indicates potential short-term negative impact on the stock price due to missed expectations and operational challenges.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100