Preliminary Q3 2024 MSC Industrial Direct Co Inc Earnings Call
MSC Industrial (MSM) expects an adjusted operating margin of 10.5%-10.7%, down from the prior stated 12-12.8%.
Shares of industrial supplies company MSC Industrial Direct (NYSE:MSM) fell 13.8% in the pre-market session after the company provided softer preliminary Q3’2024 results. Q3’24 Net sales is expected to be within $978M-$980M, down 7.3%-7.1% Y/Y and below consensus expectations. As a result, the company lowered FY’2024 guidance and expects yearly ADS (average daily sales) growth of (4.7)% - (4.3)% ( vs. previous expectations of 0% - 5%). Similarly, Adjusted Operating Margin is expected to fall wit