MSC Industrial Direct's stock soared 7.61% in pre-market trading on Wednesday after the industrial distributor reported fiscal third-quarter results that exceeded analyst expectations.
The company posted adjusted earnings per share of $1.43, beating the consensus estimate of $1.27. Net sales rose 7.8% year-over-year to $1.05 billion, also above expectations. The strong performance was driven by pricing benefits, volume growth, and strength in the core customer segment, leading to significant operating margin expansion.
CEO Martina McIsaac cited continued outperformance in the Core Customer segment and notable improvement in National Accounts. For the fourth quarter, the company forecast average daily sales growth of 6.5% to 8.5% with adjusted operating margin between 10.0% and 10.8%.
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