Welcome to our dedicated page for Msc Industrial news (Ticker: MSM), a resource for investors and traders seeking the latest updates and insights on Msc Industrial stock.
MSC Industrial Direct Co., Inc. (NYSE: MSM), operating as MSC Industrial Supply Co., regularly issues news and updates that reflect its role as a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. This news page aggregates company announcements so readers can review how MSC communicates about its operations, financial performance and corporate developments over time.
Much of MSC’s news flow centers on earnings releases and related commentary. For example, the company reports quarterly and full-year financial results, highlighting net sales, income from operations, operating margin, net income attributable to MSC and diluted earnings per share, along with non-GAAP measures such as adjusted operating margin and adjusted diluted EPS. These releases often include management’s discussion of strategic themes, execution against priorities, and cash flow conversion.
Another recurring category of news is capital allocation. MSC frequently announces regular quarterly cash dividends on its common stock, specifying the dividend amount per share and key dates for shareholders of record and payment. These dividend declarations are typically disclosed via press releases that are also furnished on Form 8-K.
MSC’s news also covers leadership and governance developments. Recent examples include announcements of a planned CEO transition, where the company communicated the voluntary resignation of its prior Chief Executive Officer, the appointment of Martina McIsaac as President and Chief Executive Officer, and related board changes. The company additionally issues notices about participation in investor conferences and webcasts to review quarterly and annual results.
Investors and followers of MSM stock can use this news stream to track how MSC describes its performance, strategy, dividend decisions, financing arrangements and leadership changes. Reviewing multiple releases together can provide context on the company’s priorities and how management responds to conditions in the industrial distribution and MRO markets.
MSC Industrial Supply Co. has entered into an exclusive e-commerce agreement with MachiningCloud, allowing the distribution of metalworking and MRO products through MachiningCloud's platform. This partnership aims to enhance efficiency for manufacturing customers by providing quick access to optimal tool combinations and direct purchasing options. Customers can leverage the platform's advanced data and models for better tool selection, ultimately streamlining their production processes. MSC's extensive catalog, featuring around 2.3 million products supported by strong supply chain capabilities, positions it as a leading distributor in North America. This collaboration is expected to drive productivity and reduce costs for end users.
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.
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