FX.co ★ MSC Industrial Direct Company Inc. Q2 Profit Decreases, but beats estimates

MSC Industrial Direct Company Inc. reported a dip in profits for the second quarter, compared to the same time last year. Regardless, they surpassed general market predictions.

This period's profits were $61.85 million, which equals $1.10 per share. This is a drop compared with last year's second quarter figures of $79.14 million, or $1.41 per share. Ignoring particular items, MSC Industrial Direct Company Inc. stated alterable earnings of $66.81 million, or $1.18 per share.

According to data collected by Thomson Reuters, average market expectations were for the company's earnings to be $1.16 per share. These estimations usually exclude certain items.

Nonetheless, the second-quarter revenue of the company also decreased by 2.7%, making it $935.35 million, as compared with the previous year's $961.63 million.

Here's a quick look at the company's earnings:

- Second Quarter (GAAP) Earnings: $61.85M compared to $79.14M from last year

- EPS Second Quarter: $1.10 in contrast to $1.41 of last year

- Second Quarter Revenue: $935.35M versus $961.63M during the previous year.