MSC Industrial Direct Co. (NYSE:MSM) shares declined Wednesday after the industrial distributor reported second-quarter results that fell short of expectations on both earnings and revenue.
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The company posted adjusted earnings of 82 cents per share, up 13.9% from a year earlier but below analysts’ consensus estimate of 84 cents. Net sales totaled $917.8 million, increasing 2.9% year over year but missing expectations of $931.7 million.
Adjusted operating margin rose to 7.5%, compared with 7.1% in the prior-year period. The company reported cash and cash equivalents of $46.2 …