Market Updates
U.S. Movers: MSC Industrial Direct, Progress Software
Scott Peters
01 Jul, 2025
New York City
Progress Software Corp. eased 3.7% to $61.48 after the business applications software provider reported results for the fiscal second quarter ending on May 31.
Revenue increased to $237.35 million from $175.08 million, net income climbed to $17.03 million from $16.19 million, and diluted earnings per share rose to 39 cents from 37 cents a year ago.
The company guided third-quarter revenue to be between $237 million and $243 million, compared to $179 million, and diluted earnings per share between 29 cents and 35 cents, compared to 65 cents a year earlier, respectively.
For the full year, the software company revised higher its revenue outlook range between $962 million and $974 million, compared to $753.41 million, and diluted earnings per share between $1.27 and $1.43, compared to $1.54 a year ago, respectively.
The company’s previous full-year guidance was for revenue between $958 million and $970 million and GAAP diluted earnings per share between $1.19 and $1.35.
MSC Industrial Direct Co. Inc. gained 3.5% to $87.99 despite the provider of metalworking and maintenance products and services reporting weak results for the fiscal third quarter of 2025 ending on May 31.
Net sales declined to $971.1 million from $979.4 million, net income edged down to $56.8 million from $71.7 million, and diluted earnings per share fell to $1.02 from $1.27 a year ago.
Operating income decreased to $82.7 million from $106.8 million, as operating margin declined to 8.5% from 10.9% a year earlier, respectively.
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