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MSC Industrial Direct beat Q1 estimates

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

MSC Industrial Direct (NYSE:MSM) reports average daily sales declined 1% in Q1.

Gross margin slipped 80 bps to 42.2%.

Operating margin rate down 140 bps to 11%.

Q2 Guidance: Net sales: $781M to $798M; Average daily sales: decrease roughly 2.5%; Diluted EPS: $0.97 to $1.03.

Previously: MSC Industrial Direct EPS beats by $0.04, beats on revenue (Jan. 8)

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