MSC Industrial Direct shares are trading lower after the company reported preliminary Q3 financial results below estimates and cut its FY24 adjusted operating margin.
Portfolio Pulse from Benzinga Newsdesk
MSC Industrial Direct shares are trading lower after the company reported preliminary Q3 financial results below estimates and cut its FY24 adjusted operating margin.
June 13, 2024 | 8:41 pm
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NEGATIVE IMPACT
MSC Industrial Direct shares are trading lower due to disappointing preliminary Q3 financial results and a reduction in FY24 adjusted operating margin.
The company's shares are reacting negatively to the preliminary Q3 financial results that came in below estimates and the reduction in FY24 adjusted operating margin. This indicates potential challenges in the company's financial performance, leading to a likely short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100