MSC Industrial Direct Company Inc. Q3 Profit Decreases, But Beats Estimates

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

The company's earnings came in at $56.8 million, or $1.02 per share. This compares with $71.7 million, or $1.27 per share, last year.

Excluding items, MSC Industrial Direct Company Inc. reported adjusted earnings of $60.2 million or $1.08 per share for the period.

Analysts on average had expected the company to earn $1.03 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 0.8% to $971.1 million from $979.4 million last year.

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

-Earnings: $56.8 Mln. vs. $71.7 Mln. last year. -EPS: $1.02 vs. $1.27 last year. -Revenue: $971.1 Mln vs. $979.4 Mln last year.

Looking ahead, for the full year, MSM has reaffirmed its outlook for capital expenditure of around $100 million to $110 million.

The company still expects annual depreciation and amortization expense of approximately $90 million to $95 million.

MSM was up by 3.58% at $88 in the pre-market trade on the New York Stock Exchange.