earnings
confidence high
sentiment negative
materiality 0.85
MSC Industrial Q3 EPS $1.27 GAAP, $1.33 adj; cuts FY2024 guidance sharply
MSC INDUSTRIAL DIRECT CO INC
2024-Q3 EPS reported
$3.59
revenue$2,868,667,000
- Net sales $979.4M, down 7.1% YoY; operating margin 10.9% GAAP, 11.4% adj.
- Adjusted diluted EPS $1.33 vs $1.74 YoY; net income $71.7M, down 24.7%.
- Revised FY2024 outlook: ADS growth (4.7)% to (4.3)% (prior 0%-5%); adj. operating margin 10.5%-10.7% (prior 12.0%-12.8%).
- CEO cites unexpected gross margin pressure and slower recovery in Core customer base.
- Non-repeating prior-year Public Sector orders and manufacturing softness weighed on sales.