MSC Industrial Direct Company Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - MSC Industrial Direct Company Inc. (MSM) revealed a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $61.85 million, or $1.10 per share. This compares with $79.14 million, or $1.41 per share, in last year's second quarter.

Excluding items, MSC Industrial Direct Company Inc. reported adjusted earnings of $66.81 million or $1.18 per share for the period.

Analysts on average had expected the company to earn $1.16 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 $935.35 million from $961.63 million last year.

MSC Industrial Direct Company Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $61.85 Mln. vs. $79.14 Mln. last year. -EPS (Q2): $1.10 vs. $1.41 last year. -Revenue (Q2): $935.35 Mln vs. $961.63 Mln last year.