Jul. 1 at 11:31 AM
$MSM
MSC Industrial’s adjusted earnings per share (EPS) for the third quarter were
$1.08, surpassing the estimated
$1.03.
Net sales reached
$971.1 million, slightly higher than the estimated
$967.5 million.
The company’s gross margin was 41%, better than the expected 40.8%.
Adjusted operating income was
$87.2 million, marginally above the forecast of
$87 million.
For the fourth quarter, MSC Industrial predicts an adjusted operating margin between 8.5% and 9%, compared to the forecasted 8.42%.
Average daily sales declined by 0.8% year-over-year, performing better than the midpoint of the company’s outlook.
Approximately
$56 million was returned to shareholders through dividends and share repurchases during the fiscal third quarter, totaling
$181 million fiscal year-to-date.
