logo
Plus   Neg
Share
Email

MSC Industrial Guides Q3 EPS Below View - Quick Facts

While reporting financial results for the second quarter on Wednesday, MSC Industrial Supply Co. (MSM) provided earnings and sales outlook for the third quarter.

For the third quarter, the company earnings in a range of $1.46 to $1.52 per share on net sales between $874 million and $891 million. At the midpoint, average daily sales are expected to increase roughly 6.5% compared to last year's third quarter.

Excluding acquisitions, the company expects the impact from acquisitions to have a roughly breakeven impact on earnings per share. Net sales is projected between $846 million and $863 million, with average daily sales at the midpoint expected to increase roughly 4.0% compared to last year's third quarter.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.61 per share on sales of $888.26 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward, the company said it is seeing positive signs from the implementation of its strategic plan, particularly from its sales force transformation, and are confident that it will deliver above market growth.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
RELATED NEWS
Follow RTT