07:29 AM EDT, 07/02/2024 (MT Newswires) -- MSC Industrial (MSM) reported fiscal Q3 adjusted earnings Tuesday of $1.33 per diluted share, down from $1.74 a year earlier.

Analysts polled by Capital IQ expected $1.33.

Net sales for the fiscal quarter ended June 1 were $979.4 million, compared with $1.05 billion a year earlier.

Four analysts surveyed by Capital IQ expected $979.3 million.

The company said it now anticipates fiscal 2024 average daily sales to decline 4.7% to 4.3%, compared with its prior growth expectation of up to 5%.

MSC Industrial's shares were down more than 2% in recent Tuesday premarket activity.

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