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MSC Industrial Direct Q3 Profit Surpasses Street View

MSC Industrial Direct Co., Inc. (MSM) Wednesday announced third-quarter net income of $94.43 million or $1.68 per share, higher than $77.7 million or $1.40 per share in the same quarter a year ago.

Excluding items, earnings of $1.42 per share beat the average estimate of nine analysts polled by Thomson Reuters at $1.37 per share. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 3.8% to $866.29 million from $834.97 million last year. The consensus estimate was for $847.22 million.

"We remain on-track to achieve our goals of growing sales 400 basis points above the Industrial Production Index and returning ROIC to the high teens by the end of fiscal 2023," said Erik Gershwind, President and Chief Executive Officer.

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