MSC Industrial rises on Q2 beat

MSC Industrial Direct

30/03/2022 15:24

** Industrial product distributor's shares  MSM.N  up ~3.8%
at $85.76 in early trade 
    ** MSM reports Q2 adjusted profit of $1.29/shr above Street
estimates of $1.22, as per Refinitiv data  urn:newsml:reuters.com:*:nASA035X2
    ** CEO Erik Gershwind says co posted double-digit top-line
growth despite COVID-related disruptions in early January 
    ** Co's net sales jump 11.4% to $862.5 mln vs analysts'
estimates of $856 mln 
    ** Five of ten brokerages rate the stock "buy" or higher,
five "hold"; their median PT is $92 - Refinitiv 
    ** Including session gains, shares up ~2% YTD  

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))