Industrial supplies company MSC Industrial Direct (NYSE: MSM) will be reporting results this Thursday before market hours. Here’s what you need to know.
MSC Industrial met analysts’ revenue expectations last quarter, reporting revenues of $971.1 million, flat year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EBITDA estimates.
Is MSC Industrial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting MSC Industrial’s revenue to grow 1.2% year on year to $964.1 million, a reversal from the 8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.03 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MSC Industrial has missed Wall Street’s revenue estimates four times over the last two years.
Looking at MSC Industrial’s peers in the industrial distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Fastenal delivered year-on-year revenue growth of 11.7%, meeting analysts’ expectations, and Richardson Electronics reported revenues up 1.6%, topping estimates by 6%. Fastenal traded down 6.7% following the results while Richardson Electronics was up 11.4%.
Read our full analysis of Fastenal’s results here and Richardson Electronics’s results here.
Investors in the industrial distributors segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. MSC Industrial is down 3.1% during the same time and is heading into earnings with an average analyst price target of $88.50 (compared to the current share price of $88.03).
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