MSC Industrial (MSM -3.7%) skips the market rally today after its FQ2 missed top line consensus...

|About: MSC Industrial Direct Co. Inc. (MSM)|By:, SA News Editor

MSC Industrial (MSM -3.7%) skips the market rally today after its FQ2 missed top line consensus estimates earlier. Net earnings fell 6.6% Y/Y as higher operating costs and weaker margins offset modest revenue growth. The company also forecast its FQ3 to come in below estimates due to soft demand and a lack of midyear price adjustments. It now expects to earn around $0.95 to $0.99 per share, on revenue of $597M to $609M The Street was looking for $1.10 on $633M, respectively.