MSC Industrial rises on upbeat Q1 results

MSC Industrial Direct

22/12/2021 16:43

** Shares of industrial products distributor  MSM.N  rise as
much as ~2% to $85.62 after co beats Q1 sales and profit
estimates 
    ** Stock last up 1.4%, on course for second straight day of
gains
    ** Co says Q1 sales rose 9.9% to $848.5 mln, beating
analysts' est. of $839 mln, according to IBES data from
Refinitiv  urn:newsml:reuters.com:*:nPn5bKFhGa
    ** MSM also posts Q1 adjusted earnings per share of $1.25
per share, above analysts' est. of $1.19 per share - Refinitiv
IBES data
    ** MSM CEO Erik Gershwind says co is on track to achieve
goals of growing sales by at least 400 basis points above the
Industrial Production Index and generating high-teens of return
on investment capital (ROIC) by the end of fiscal 2023
    ** Stock up ~1% this year versus a near 16.7% jump in S&P
Composite 1500 Industrials Index  .SPCOMI 

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))