MSC Industrial Delivers Mixed Q2: Sales Slide, EPS Tops Estimates, Outlook Remains Cautious

MSC Industrial Direct Company, Inc. (NYSE:MSM) shares are trading lower premarket on Thursday after the company reported second-quarter financial results.

Net sales declined 4.7% year-over-year to $891.7 million, missing the consensus of $899.54 million. Average daily sales declined 4.7% year-over-year. Adjusted gross margin for the quarter was 41.0%, down from 41.5% a year ago.

Adjusted operating income for the quarter declined 34.9% to $63.7 million, with an adjusted operating margin of 7.1%, down from 10.5% a year ago.

Adjusted EPS of $0.72, down 39.0% Y/Y, topped the consensus of $0.68.

As of March 1, the company held $41.276 million in cash and equivalents.

Operating cash flow ...

https://www.benzinga.com/news/earnings/25/04/44626233/msc-industrial-delivers-mixed-q2-sales-slide-eps-tops-estimates-outlook-remains-cautious