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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter has rolled out the tipping feature called "Tips" for everyone around the globe using the microblogging site with more payment options to choose from, including cryptocurrencies such as Bitcoin. This is a new way for people to receive and show support on Twitter with money. The feature is currently available on iOS and will be available on Android over the coming weeks. Amazon.com has launched weekly Max-Your-Vax Sweepstakes to encourage their employees to get vaccinated against COVID-19. The sweepstakes began on August 6, 2021 and ends on October 21, 2021, with six draws during the sweepstakes period for 18 prizes worth nearly $2 million, including cash prizes, new vehicle or cash and vacation plus 40 hours of Paid Time Off. Target Corp. announced its plans to hire 100,000 seasonal team members at its stores across the country for this holiday shopping season, though fewer than previous years. With this, the company aims to invest in more flexible scheduling, training, pay and benefits for its existing team members. In a statement, the company said it is also offering around 5 million more hours to its existing staff.
Follow RTT