What the Market Missed in MSC Industrial's Latest Earnings Report
Industrial supply companies always give good insight into broader economic conditions, as they tend to be the first companies to catch a cold when the economy sneezes. Indeed, the latest results from MSC Industrial (NYSE: MSM) served notice of what's to come this earnings season.
It was a fascinating report because, at first glance, the numbers looked acceptable. However, a deeper dig into the details makes clear that the industrial sector is heading into a very difficult quarter. Here's why.
Investors couldn't have been expecting too much from MSC's fiscal second-quarter earnings report, which covered the period ending Feb. 29. After all, with shutdowns and turmoils occurring across key end markets like automotive, aerospace, and oil and gas, it's natural to expect an industrial supply company would take a major hit.
Source Fool.com
