Msc Industrial Stock Price, News & Analysis

MSC Industrial Supply Co. (NYSE: MSM), a leading distributor of Metalworking and MRO products in North America, has announced an increase in its regular quarterly dividend. The company's Board of Directors has declared a cash dividend of $0.85 per share, up from the previous $0.83 per share. This new dividend will be payable on November 27, 2024 to shareholders of record at the close of business on November 13, 2024.

This increase in dividend demonstrates MSC Industrial Supply Co.'s commitment to delivering value to its shareholders and reflects confidence in the company's financial stability and future prospects.

MSC Industrial Supply Co. (NYSE: MSM) has announced the promotion of Martina McIsaac to President and Chief Operating Officer, effective September 23, 2024. Previously serving as Executive Vice President and COO, McIsaac will now oversee MSC's entire day-to-day operations, including Sales, Marketing, Solutions, Supply Chain, Category Management, Supplier Relations, Sustainability, and Information Technology.

CEO Erik Gershwind praised McIsaac's contributions, highlighting improvements in customer experience, service levels, fill rates, and strategic initiatives. This move aims to tighten connections between technology functions and business operations. Gershwind will focus more on long-term strategic direction, business development, and talent development.

McIsaac joined MSC in October 2022 after a successful tenure at Hilti , where she led the North America organization to significant market outperformance. Her background includes 14 years at Avery Dennison in various leadership roles across multiple countries.

MSC Industrial Supply Co. (NYSE: MSM), a leading distributor of Metalworking and Maintenance, Repair and Operations (MRO) products and services, has announced a webcast to review its fiscal year 2024 fourth quarter and full year results. The conference call is scheduled for Thursday, October 24, 2024 at 8:30 a.m. Eastern Time.

Investors and interested parties can access the earnings release, webcast, presentation slides, and operational statistics through the company's website at http://investor.mscdirect.com. Alternatively, participants can join the conference call by dialing 1-877-443-5575 (U.S.), 1-855-669-9657 (Canada), or 1-412-902-6618 (international).

An online archive of the broadcast will be available within one hour after the call concludes and will remain accessible until Thursday, November 7, 2024.

MSC Industrial Supply Co. (NYSE: MSM) will showcase its role as a leading metalworking partner at the International Manufacturing Technology Show (IMTS) in Chicago from September 9-14, 2024. The company's booth #432228 will demonstrate how MSC drives customer productivity and cost reduction through a three-pronged approach: metalworking experts, innovative services, and a vast supplier network.

Visitors can explore MSC's digital showroom, view a data ticker of customer cost reductions, and interact with metalworking experts. The company aims to highlight its ability to provide transformative improvements for manufacturing operations and financial outcomes across all stages of production.

MSC Industrial Supply Co. (NYSE: MSM) has announced the addition of Rob Aarnes to its Board of Directors as an independent member. This move strengthens MSC's corporate governance profile and aligns with the reclassification agreement with shareholders. Aarnes, currently the President of ADI Global Distribution, brings extensive experience in operations management and a track record of driving profitable growth across various C-level roles. His background in distribution business models similar to MSC's is expected to provide valuable insights as the company works towards achieving its full potential and creating shareholder value.

Aarnes has led ADI, a $4.6B global wholesale distributor, since 2017. ADI is part of Resideo Technologies, Inc. (NYSE: REZI), a $7.3B manufacturer and distributor of smart-living products. Aarnes' diverse experience includes roles in private equity, specialty retail, and big box consumer electronics retail. He is a graduate of the United States Naval Academy and holds an MBA from San Diego State University.

MSC Industrial Supply Co. (NYSE: MSM), a leading distributor of Metalworking and Maintenance, Repair and Operations supplies, has been Certified™ by Great Place To Work®. This prestigious award is based on current associate feedback, with 77% of associates stating MSC is a great place to work, surpassing the average U.S. company by 20 points. Additionally, 91% of associates reported feeling welcome when joining the company.

The certification reflects MSC's commitment to being an employer-of-choice and prioritizing associate experience. SVP and Chief People Officer Beth Bledsoe expressed pride in the achievement, attributing the company's success to its dedicated team of associates.

MSC Industrial Supply Co. reported fiscal 2024 third quarter results, highlighting a 7.1% YoY decline in net sales to $979.4 million. The decline included a 300 basis point headwind from non-repeating Public Sector orders in the previous year. Operating income fell to $106.8 million, with an adjusted figure of $111.5 million. Operating margin was reported at 10.9%, or 11.4% adjusted. Diluted EPS decreased to $1.27, while adjusted EPS was $1.33, both showing significant YoY drops. CEO Erik Gershwind noted unexpected gross margin pressure and sluggish recovery in average daily sales as factors contributing to the below-expectations performance. The full-year outlook has been revised, anticipating a 4.3%-4.7% decline in ADS growth and an adjusted operating margin of 10.5%-10.7%.

MSC Industrial Supply announced the acquisition of ApTex and Premier Tool Grinding to enhance its regional presence. Both companies had a combined revenue of over $20 million in 2023 and will keep operating under their current names as part of MSC. ApTex specializes in cutting tools and metalworking fluid distribution, while Premier Tool Grinding focuses on the design and manufacturing of carbide cutting tools. The acquisitions are expected to be net neutral to MSC's fiscal 2024 net income. MSC aims to leverage the technical expertise of both companies to expand its market share and service offerings.

MSC Industrial Supply Co. (NYSE: MSM) has announced a regular quarterly cash dividend of $0.83 per share. This dividend will be paid on July 23, 2024, to shareholders who are on record by July 9, 2024, which is also the ex-dividend date. MSC Industrial Supply is a leading distributor of Metalworking and Maintenance, Repair, and Operations (MRO) products and services across North America.