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MSC Industrial Direct Co., Inc. reports recurring developments for its North American industrial distribution business, which supplies metalworking, maintenance, repair and operations (MRO), production fastener, and hardware products and services. Company updates commonly cover fiscal earnings, average daily sales trends, operating margin commentary, customer productivity solutions, inventory management, and supply chain capabilities.
News also includes regular quarterly dividend declarations, earnings-call webcasts, investor conference participation, board appointments, and executive succession matters. These items reflect MSC Industrial's role as a distributor serving industrial customers across North America and its governance and capital-return practices as a public company.
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.
MSC Industrial Supply Co. (NYSE: MSM) will webcast a review of its fiscal 2024 third quarter results on July 2, 2024, at 8:30 a.m. Eastern Time. The company, a leading distributor of Metalworking and MRO products in North America, will discuss its quarterly financial performance and operational updates during the call. Interested parties can access the webcast, earnings release, presentation slides, and operational statistics via MSC's investor relations website. The conference call is accessible by dialing specified phone numbers for U.S., Canada, and international participants. A replay of the broadcast will be available online until July 16, 2024.
MSC Industrial Supply Co. (NYSE: MSM) has announced preliminary financial results for its fiscal third quarter of 2024, revealing net sales between $978-$980 million, a 7.1%-7.3% decline YoY. Average daily sales increased by approximately 3% sequentially. GAAP EPS is expected to be $1.26-$1.28, with adjusted EPS projected at $1.32-$1.34. The company attributes the lower performance to ongoing heavy manufacturing softness and delays in core customer ramp-up. Gross margins were negatively impacted by increased product and customer mix headwinds, and issues with web price realignment. MSC has updated its outlook for the full fiscal year 2024, reducing ADS growth to -4.7% to -4.3% and adjusted operating margin to 10.5%-10.7%.
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