Msc Industrial Stock Price, News & Analysis

MSC Industrial Supply Co. (NYSE: MSM) reported robust fiscal 2023 Q2 results, with net sales reaching $961.6 million, an increase of 11.5% year-over-year. Operating income rose to $114.3 million, and diluted EPS improved to $1.41, up from $1.25 in the prior year. The company repurchased over 150,000 shares at an average price of $81.76. Positive growth drivers include strong performance in e-commerce and public sector sales, which grew by 20%. MSC anticipates continued growth momentum with adjusted operating margins projected between 12.7% and 13.3% for the full fiscal year.

MSC Industrial Supply Co. (NYSE: MSM) has declared a cash dividend of $0.79 per share, payable on April 25, 2023, to shareholders of record as of April 11, 2023. The ex-dividend date is set for April 10, 2023. As a leading distributor of metalworking and MRO products in North America, MSC continues to support its stakeholders through consistent dividend payouts. The company emphasizes its commitment to delivering productivity and profitability to its customers, leveraging over 80 years of industry expertise and a vast product inventory. For more details, visit mscdirect.com.

MSC Industrial Supply Co. (NYSE: MSM) has announced a live broadcast of its fiscal 2023 second quarter results conference call on April 4, 2023, at 8:30 a.m. Eastern Time. The call will cover the company's current operations and allow stakeholders to gain insights into its performance. Interested parties can access the call by dialing specific numbers for the U.S., Canada, or internationally. Additionally, an online archive of the broadcast will be available post-call until May 4, 2023. MSC Industrial Supply is a leading North American distributor with a vast inventory and over 80 years of expertise to enhance customer productivity.

MSC Industrial Supply Co. (NYSE: MSM) has received a proposal from its controlling shareholders, the Jacobson/Gershwind family, to exchange their high-voting Class B shares for Class A shares, aiming to eliminate the current dual-class share structure. The exchange ratio suggested is 1.35 Class A shares for each Class B share. A Special Committee of independent directors has been formed to evaluate the proposal, which requires approval from the Committee, the MSC Board, and a majority of Class A shareholders. There is no guarantee of a finalized transaction.

MSC Industrial Supply Co. (NYSE: MSM) has acquired Buckeye Industrial Supply Co. and Tru-Edge Grinding Inc., both based in Ohio, enhancing its position in the North American metalworking distribution market. The combined estimated revenue for Buckeye and Tru-Edge was $28 million in 2022, with 80 associates involved. This strategic acquisition aims to leverage Buckeye's customer relationships and Tru-Edge's manufacturing capabilities to expand MSC's product offerings and drive eCommerce sales through mscdirect.com, as well as improve customer cost savings.

MSC Industrial Supply reported fiscal 2023 Q1 net sales of $957.7 million, a 12.9% increase year-over-year. Operating income reached $116.0 million with an operating margin of 12.1%. Diluted EPS grew to $1.45 from $1.18 in the prior year. The company repurchased over 200,000 shares at an average price of $79.60. MSC reaffirmed its fiscal 2023 outlook, expecting adjusted operating margins between 12.7%-13.3% and average daily sales growth of 5.0%-9.0%.

MSC Industrial Supply Co. (NYSE: MSM) has declared a cash dividend of $0.79 per share, payable on January 24, 2023, to shareholders of record as of January 10, 2023. The ex-dividend date is set for January 9, 2023. This dividend declaration highlights MSC's commitment to return value to shareholders, reflecting a stable financial position. The company is a leading distributor of metalworking and maintenance, repair, and operations products across North America.

MSC Industrial Supply Co. (NYSE: MSM) announces a live webcast scheduled for January 5, 2023, at 8:30 a.m. ET to discuss its fiscal 2023 first-quarter results. The company provides MRO and metalworking products and services, aiming to enhance customer productivity and growth with approximately 2.1 million products. Investors can access the earnings release and presentation materials on the company's investor website. The call can be joined through various numbers, with an archived version available for one week post-event.

On December 1, 2022, MSC Industrial Supply Co. (NYSE: MSM) elected Rahquel Purcell to its Board of Directors. Purcell brings over 30 years of supply chain and digital experience, previously serving as Chief Transformation Officer at L'Oréal. Her tenure included roles overseeing significant operational units and contributing to L'Oréal's ESG strategy. MSC's leadership believes her customer-centric approach and operational expertise will enhance profitability and growth. This strategic addition aims to strengthen MSC's operational efficiencies and long-term success.