UPDATE: MSC Industrial Reports Better-Than-Expected FQ3 Profit, Issues Downbeat Q4 Earnings Forecast

MSC Industrial Direct Co Inc MSM reported upbeat fiscal third-quarter earnings and issued weaker-than-expected Q4 earnings. MSM reported its quarterly profit at $62.1 million, or $0.97 per share, up from $44.3 million, or $0.69 per share, in the year-earlier period. Its revenue surged 18% to $532.4 million. Analysts were expecting earnings of $0.94 per share on revenue of $532.1 million. For current quarter, MSM expected earnings of $0.83 to $0.87 per share on revenue of $518 million to $530 million. However, analysts expected earnings of $0.89 per share on revenue of $526 million. MSM shares gained 1.81% to close at $68.10 yesterday. Read more from Benzinga's Company news.