UDI - MSC Industrial's Rocky Q2 Earnings Hint At A Cautious FY24 Outlook: Details | Benzinga
MSC Industrial Direct Co., Inc. (NYSE:MSM) shares are trading lower after the reported second-quarter FY24 net sales decline of 2.7% Y/Y to $935.3 million, missing the consensus of $946.5 million.
Average daily sales fell 2.7% Y/Y on continued softness in heavy manufacturing verticals.
Adjusted operating income declined 16.5% to $97.8 million, with the operating margin compressing to 10.5% from 12.2% a year ago.
Adjusted EPS of $1.18, down 18.6%, beating the consensus of $1.16.
As of March 2, 2024, the company held ...