MSC Industrial Direct Company Inc. (MSM) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $46.62 million, or $0.83 per share. This compares with $69.35 million, or $1.22 per share, in last year's first quarter.
Excluding items, MSC Industrial Direct Company Inc. reported adjusted earnings of $48.39 million or $0.86 per share for the period.
Analysts on average had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 2.7% to $928.48 million from $953.97 million last year.
MSC Industrial Direct Company Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $46.62 Mln. vs. $69.35 Mln. last year.
-EPS (Q1): $0.83 vs. $1.22 last year.
-Revenue (Q1): $928.48 Mln vs. $953.97 Mln last year.
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