MSC Industrial Q4 Misses Consensus, Net Sales Fall 8% Amid Heavy Manufacturing Weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 24 2024
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Source: Benzinga
Fourth Quarter Results: MSC Industrial Direct reported a net sales decline of 8.0% year-over-year to $952.3 million, missing expectations, with adjusted EPS down 37.2% to $1.03 and operating income declining by 27.8%.
Outlook and Dividend: The company anticipates further declines in average daily sales for the first quarter and has raised its cash dividend per share to $0.85, while expressing concerns over near-term visibility due to economic uncertainties.
Analyst Views on AIRR
Wall Street analysts forecast AIRR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AIRR is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 114.450
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
