MSC Industrial Q2 Profit Rises, Guides Q3 Below View - Quick Facts

(RTTNews) - MSC Industrial Supply Co. (MSM), a premier distributor of metalworking and maintenance, repair and operations supplies to industrial customers throughout North America, said its second-quarter net income increased to $51.53 million or $0.83 per share from $49.51 million or $0.79 per share in the prior-year quarter.

Excluding non-recurring costs, adjusted net income for the quarter was $51.81 million or $0.84 per share, compared to $54.46 million or $0.87 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.85 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew to $706.40 million from $661.51 million in the same quarter last year. Eleven Wall Street analysts had a consensus revenue estimate of $718.17 million for the quarter.

Looking ahead to the third quarter, MSC Industrial expects reported and adjusted earnings in a range of $0.95 to $0.99 per share, on projected net sales between $740 million and $752 million. Analysts expect the firm to report earnings of $1.09 per share and sales of $780.16 million for the quarter.