MSC Industrial Guides Q3 EPS Below View - Quick Facts

(RTTNews) - 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.