Stock Story -
Industrial supplies company MSC Industrial Direct (NYSE:MSM) will be announcing earnings results tomorrow before market hours. Here’s what to expect.
MSC Industrial missed analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $952.3 million, down 8% year on year. It was a slower quarter for the company, with a miss of analysts’ EPS estimates and a slight miss of analysts’ organic revenue estimates.
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This quarter, analysts are expecting MSC Industrial’s revenue to decline 5.2% year on year to $904.6 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.73 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MSC Industrial has missed Wall Street’s revenue estimates three times over the last two years.
With MSC Industrial being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for industrial distributors stocks. However, the whole sector has faced a sell-off over the last month with stocks in MSC Industrial’s peer group down 5.7% on average. MSC Industrial is down 5.9% during the same time and is heading into earnings with an average analyst price target of $82 (compared to the current share price of $79.04).