MSC INDUSTRIAL SUPPLY CO. REPORTS FISCAL 2025 SECOND QUARTER RESULTS
MSC Industrial Supply (NYSE: MSM) reported its fiscal 2025 second quarter results, showing a decline in key financial metrics. Net sales decreased 4.7% year-over-year to $891.7 million. Operating income fell to $62.2 million, with an operating margin of 7.0%. Diluted EPS dropped to $0.70 from $1.10 in the prior year quarter.
On an adjusted basis, the company achieved an operating margin of 7.1% and adjusted diluted EPS of $0.72. The company maintained strong gross margins, partly aided by favorable supplier rebates. During Q2, MSC returned approximately $60 million to shareholders through dividends and share repurchases.
Looking ahead, MSC provided Q3 FY2025 guidance projecting ADS growth between -2.0% to 0.0% and adjusted operating margin of 8.7% to 9.3%. The company maintains its goal of achieving 400 basis points of growth above the IP Index and expanding operating margins to mid-teens.
MSC Industrial Supply (NYSE: MSM) ha riportato i risultati del secondo trimestre dell'anno fiscale 2025, evidenziando un calo nei principali indicatori finanziari. Le vendite nette sono diminuite del 4,7% rispetto all'anno precedente, raggiungendo 891,7 milioni di dollari. L'utile operativo è sceso a 62,2 milioni di dollari, con un margine operativo del 7,0%. L'EPS diluito è sceso a 0,70 dollari rispetto a 1,10 dollari nel trimestre dello scorso anno.
Su base rettificata, l'azienda ha raggiunto un margine operativo del 7,1% e un EPS diluito rettificato di 0,72 dollari. L'azienda ha mantenuto forti margini lordi, parzialmente supportati da favorevoli rimborsi dei fornitori. Durante il secondo trimestre, MSC ha restituito circa 60 milioni di dollari agli azionisti tramite dividendi e riacquisti di azioni.
Guardando al futuro, MSC ha fornito previsioni per il terzo trimestre dell'anno fiscale 2025, prevedendo una crescita ADS compresa tra -2,0% e 0,0% e un margine operativo rettificato tra l'8,7% e il 9,3%. L'azienda mantiene l'obiettivo di raggiungere 400 punti base di crescita rispetto all'IP Index e di espandere i margini operativi verso il medio quindici.
MSC Industrial Supply (NYSE: MSM) informó sus resultados del segundo trimestre del año fiscal 2025, mostrando una disminución en los principales indicadores financieros. Las ventas netas cayeron un 4,7% interanual a $891.7 millones. El ingreso operativo cayó a $62.2 millones, con un margen operativo del 7.0%. El EPS diluido bajó a $0.70 desde $1.10 en el trimestre del año anterior.
En términos ajustados, la compañía logró un margen operativo del 7.1% y un EPS diluido ajustado de $0.72. La empresa mantuvo márgenes brutos sólidos, en parte ayudados por reembolsos favorables de proveedores. Durante el segundo trimestre, MSC devolvió aproximadamente $60 millones a los accionistas a través de dividendos y recompras de acciones.
De cara al futuro, MSC proporcionó una guía para el tercer trimestre del año fiscal 2025 proyectando un crecimiento de ADS entre -2.0% y 0.0% y un margen operativo ajustado del 8.7% al 9.3%. La empresa mantiene su objetivo de alcanzar 400 puntos base de crecimiento por encima del Índice IP y de expandir los márgenes operativos a mediados de los quince.
MSC 산업 공급 (NYSE: MSM)은 2025 회계 연도 2분기 실적을 보고하며 주요 재무 지표에서 감소를 보였습니다. 순매출은 전년 대비 4.7% 감소하여 8억 9,170만 달러에 달했습니다. 운영 소득은 6,220만 달러로 떨어졌으며, 운영 마진은 7.0%입니다. 희석 주당순이익은 전년 동기 1.10달러에서 0.70달러로 감소했습니다.
조정 기준으로, 회사는 7.1%의 운영 마진과 0.72달러의 조정 희석 EPS를 달성했습니다. 회사는 공급업체의 유리한 리베이트 덕분에 강력한 총 마진을 유지했습니다. 2분기 동안 MSC는 배당금과 자사주 매입을 통해 주주에게 약 6천만 달러를 반환했습니다.
미래를 바라보며, MSC는 2025 회계 연도 3분기 가이던스를 제공하며 ADS 성장을 -2.0%에서 0.0% 사이로 예상하고 조정된 운영 마진을 8.7%에서 9.3%로 전망했습니다. 회사는 IP 지수보다 400 베이시스 포인트의 성장을 달성하고 운영 마진을 중반 10대까지 확장하는 목표를 유지합니다.
MSC Industrial Supply (NYSE: MSM) a publié ses résultats du deuxième trimestre de l'exercice 2025, montrant une baisse des principaux indicateurs financiers. Les ventes nettes ont diminué de 4,7 % par rapport à l'année précédente, atteignant 891,7 millions de dollars. Le résultat d'exploitation a chuté à 62,2 millions de dollars, avec une marge opérationnelle de 7,0 %. Le BPA dilué est tombé à 0,70 dollar contre 1,10 dollar au cours du trimestre de l'année précédente.
Sur une base ajustée, l'entreprise a réalisé une marge opérationnelle de 7,1 % et un BPA dilué ajusté de 0,72 dollar. L'entreprise a maintenu de fortes marges brutes, en partie grâce à des remises favorables de fournisseurs. Au cours du deuxième trimestre, MSC a restitué environ 60 millions de dollars aux actionnaires par le biais de dividendes et de rachats d'actions.
Pour l'avenir, MSC a fourni des prévisions pour le troisième trimestre de l'exercice 2025, projetant une croissance de l'ADS comprise entre -2,0 % et 0,0 % et une marge opérationnelle ajustée de 8,7 % à 9,3 %. L'entreprise maintient son objectif d'atteindre 400 points de base de croissance au-dessus de l'indice IP et d'élargir les marges opérationnelles vers le milieu des quinze.
MSC Industrial Supply (NYSE: MSM) hat die Ergebnisse des zweiten Quartals des Geschäftsjahres 2025 veröffentlicht, die einen Rückgang der wichtigsten finanziellen Kennzahlen zeigen. Der Nettoumsatz sank im Jahresvergleich um 4,7% auf 891,7 Millionen Dollar. Das Betriebsergebnis fiel auf 62,2 Millionen Dollar, mit einer operativen Marge von 7,0%. Der verwässerte EPS sank von 1,10 Dollar im Vorjahresquartal auf 0,70 Dollar.
Auf bereinigter Basis erzielte das Unternehmen eine operative Marge von 7,1% und einen bereinigten verwässerten EPS von 0,72 Dollar. Das Unternehmen hielt starke Bruttomargen aufrecht, teilweise unterstützt durch günstige Rückvergütungen von Lieferanten. Im zweiten Quartal gab MSC etwa 60 Millionen Dollar an die Aktionäre in Form von Dividenden und Aktienrückkäufen zurück.
Für die Zukunft gab MSC eine Prognose für das dritte Quartal des Geschäftsjahres 2025 ab, die ein ADS-Wachstum zwischen -2,0% und 0,0% sowie eine bereinigte operative Marge von 8,7% bis 9,3% prognostiziert. Das Unternehmen hält an seinem Ziel fest, 400 Basispunkte über dem IP-Index zu wachsen und die operativen Margen auf die mittleren Teenagerjahre zu erweitern.
- Strong gross margin performance supported by favorable supplier rebates
- Returned $60 million to shareholders via dividends and share repurchases
- January and February performance exceeded historical month-over-month trends
- Healthy balance sheet and strong operating cash flow
- Net sales declined 4.7% YoY to $891.7 million
- Operating income decreased 31.7% to $62.2 million
- Diluted EPS fell 36.4% to $0.70 from $1.10
- Operating margin declined to 7.0% from 9.7% in prior year
Insights
MSC Industrial's Q2 FY2025 results reveal significant financial challenges, with net sales declining 4.7% YoY to
The company's adjusted figures show even steeper declines, with adjusted operating income down
Forward guidance offers minimal relief, projecting Q3 daily sales growth between -2.0% to 0.0% YoY and adjusted operating margin of
The company's capital allocation strategy remains shareholder-friendly, returning approximately
FISCAL 2025 Q2 HIGHLIGHTS
- Net sales of
$891.7 million 4.7% YoY - Operating income of
$62.2 million $63.7 million - Operating margin of
7.0% , or7.1% excluding the adjustments described above1 - Diluted EPS of
$0.70 $1.10 - Adjusted diluted EPS of
$0.72 $1.18
Financial Highlights 2 | FY25 Q2 | FY24 Q2 | Change | FY25 YTD | FY24 YTD | Change | ||||||
Net Sales | $ 891.7 | $ 935.3 | (4.7) % | (3.7) % | ||||||||
Income from Operations | $ 62.2 | $ 91.2 | (31.7) % | $ 134.5 | $ 192.8 | (30.2) % | ||||||
Operating Margin | 7.0 % | 9.7 % | 7.4 % | 10.2 % | ||||||||
Net Income Attributable to MSC | $ 39.3 | $ 61.8 | (36.4) % | $ 85.9 | $ 131.2 | (34.5) % | ||||||
Diluted EPS | $ 0.70 | 3 | $ 1.10 | 4 | (36.4) % | $ 1.54 | 3 | $ 2.32 | 4 | (33.6) % | ||
Adjusted Financial Highlights 2 | FY25 Q2 | FY24 Q2 | Change | FY25 YTD | FY24 YTD | Change | ||||||
Net Sales | $ 891.7 | $ 935.3 | (4.7) % | (3.7) % | ||||||||
Adjusted Income from Operations 1 | $ 63.7 | $ 97.8 | (34.9) % | $ 138.3 | $ 201.5 | (31.4) % | ||||||
Adjusted Operating Margin 1 | 7.1 % | 10.5 % | 7.6 % | 10.7 % | ||||||||
Adjusted Net Income Attributable to MSC 1 | $ 40.4 | $ 66.8 | (39.6) % | $ 88.8 | $ 136.7 | (35.1) % | ||||||
Adjusted Diluted EPS 1 | $ 0.72 | 3 | $ 1.18 | 4 | (39.0) % | $ 1.59 | 3 | $ 2.42 | 4 | (34.3) % |
1 Represents a non-GAAP financial measure. An explanation and a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure are presented in the schedules accompanying this press release. |
2 In millions except percentages and per share data or as otherwise noted. |
3 Based on 55.9 million and 56.0 million weighted-average diluted shares outstanding for FY25 Q2 and FY25 YTD, respectively. |
4 Based on 56.5 million and 56.6 million weighted-average diluted shares outstanding for FY24 Q2 and FY24 YTD, respectively. |
Erik Gershwind, Chief Executive Officer, said, "During our fiscal second quarter, we continued expanding our solutions footprint, maintained momentum in the Public Sector, and completed important milestones in reenergizing our core customer growth rate. This included launching our website upgrades and an enhanced marketing campaign. Amid a challenging operating environment with industrial demand at low levels, we generated solid results that landed within our guidance range."
Kristen Actis-Grande, Executive Vice President and Chief Financial Officer, added, "Average daily sales declined
Gershwind concluded, "While we are encouraged by positive early indicators from our growth initiatives and improving sequential growth rate trends, we have more work to do, and the environment remains uncertain. We are focused on executing our Mission Critical productivity and growth initiatives. Looking forward, this will strengthen MSC's position in the marketplace and ability to achieve our long-term objectives of reaching 400 basis points or more of growth above the IP Index and expanding operating margins to the mid-teens."
Third Quarter Fiscal 2025 Financial Outlook | |
ADS Growth (YoY) | (2.0)% - |
Adjusted Operating Margin1 | |
Full-Year Fiscal 2025 Outlook for Certain Financial Metrics Maintained
- Depreciation and amortization expense of
~ $90M -$95M - Interest and other expense of
~ $45M - Capital expenditures of
~ $100M -$110M - Free cash flow conversion1 of ~
100% - Tax rate of ~
24.5% -25.0%
1 Guidance provided is a non-GAAP figure presented on an adjusted basis. For further details see the Non-GAAP financial measures information presented in the schedules accompanying this press release. |
Conference Call Information
MSC will host a conference call today at 8:30 a.m. EDT to review the Company's fiscal 2025 second quarter results. The call, accompanying slides, and other operational statistics may be accessed at: https://investor.mscdirect.com. The conference call may also be accessed at 1-877-443-5575 (
An online archive of the broadcast will be available until April 17, 2025. The Company's reporting date for its fiscal 2025 third quarter is scheduled for July 1, 2025.
Contact Information | |
Investors: | Media: |
Ryan Mills, CFA | Zivanai Mutize |
Head of Investor Relations | Head of Corporate Communications |
About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services. We help our customers drive greater productivity, profitability and growth with approximately 2.4 million products, inventory management and other supply chain solutions, and deep expertise from more than 80 years of working with customers across industries. Our experienced team of more than 7,000 associates works with our customers to help drive results for their businesses - from keeping operations running efficiently today to continuously rethinking, retooling and optimizing for a more productive tomorrow. For more information on MSC Industrial, please visit mscdirect.com.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact, that address activities, events or developments that MSC expects, believes or anticipates will or may occur in the future, including statements about results of operations and financial condition, expected future results, expected benefits from our investment and strategic plans and other initiatives, and expected future growth and profitability, are forward-looking statements. The words "will," "may," "believes," "anticipates," "thinks," "expects," "estimates," "plans," "intends" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management's assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by MSC or any other person that the events or circumstances described in such statement are material. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed or implied by these forward-looking statements. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions in the markets in which we operate; changing customer and product mixes; volatility in commodity, energy and labor prices, and the impact of prolonged periods of low, high or rapid inflation; competition, including the adoption by competitors of aggressive pricing strategies or sales methods; industry consolidation and other changes in the industrial distribution sector; the applicability of laws and regulations relating to our status as a supplier to the
MSC INDUSTRIAL DIRECT CO., INC. Condensed Consolidated Balance Sheets (In thousands)
| |||
March 1, | August 31, | ||
ASSETS | (Unaudited) | ||
Current Assets: | |||
Cash and cash equivalents | $ 41,276 | $ 29,588 | |
Accounts receivable, net of allowance for credit losses | 395,300 | 412,122 | |
Inventories | 644,971 | 643,904 | |
Prepaid expenses and other current assets | 112,808 | 102,475 | |
Total current assets | 1,194,355 | 1,188,089 | |
Property, plant and equipment, net | 372,842 | 360,255 | |
Goodwill | 721,663 | 723,894 | |
Identifiable intangibles, net | 93,144 | 101,147 | |
Operating lease assets | 50,020 | 58,649 | |
Other assets | 30,154 | 30,279 | |
Total assets | $ 2,462,178 | $ 2,462,313 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Current Liabilities: | |||
Current portion of debt including obligations under finance leases | $ 234,056 | $ 229,911 | |
Current portion of operating lease liabilities | 19,920 | 21,941 | |
Accounts payable | 213,057 | 205,933 | |
Accrued expenses and other current liabilities | 155,600 | 147,642 | |
Total current liabilities | 622,633 | 605,427 | |
Long-term debt including obligations under finance leases | 304,931 | 278,853 | |
Noncurrent operating lease liabilities | 30,740 | 37,468 | |
Deferred income taxes and tax uncertainties | 139,284 | 139,283 | |
Total liabilities | 1,097,588 | 1,061,031 | |
Commitments and Contingencies | |||
Shareholders' Equity: | |||
Preferred Stock | — | — | |
Class A Common Stock | 57 | 57 | |
Additional paid-in capital | 1,079,823 | 1,070,269 | |
Retained earnings | 422,813 | 456,850 | |
Accumulated other comprehensive loss | (27,515) | (21,144) | |
Class A treasury stock, at cost | (118,686) | (114,235) | |
Total MSC Industrial shareholders' equity | 1,356,492 | 1,391,797 | |
Noncontrolling interest | 8,098 | 9,485 | |
Total shareholders' equity | 1,364,590 | 1,401,282 | |
Total liabilities and shareholders' equity | $ 2,462,178 | $ 2,462,313 | |
MSC INDUSTRIAL DIRECT CO., INC. Condensed Consolidated Statements of Income (In thousands, except per share data) (Unaudited)
| |||||||
Thirteen Weeks Ended | Twenty-Six Weeks Ended | ||||||
March 1, | March 2, | March 1, | March 2, | ||||
Net sales | $ 891,717 | $ 935,348 | $ 1,820,201 | $ 1,889,317 | |||
Cost of goods sold | 526,487 | 546,737 | 1,076,784 | 1,107,589 | |||
Gross profit | 365,230 | 388,611 | 743,417 | 781,728 | |||
Operating expenses | 301,578 | 291,235 | 605,141 | 581,868 | |||
Restructuring and other costs | 1,406 | 6,181 | 3,750 | 7,097 | |||
Income from operations | 62,246 | 91,195 | 134,526 | 192,763 | |||
Other income (expense): | |||||||
Interest expense | (6,226) | (6,951) | (12,301) | (12,271) | |||
Interest income | 233 | 43 | 574 | 168 | |||
Other expense, net | (4,540) | (4,332) | (10,484) | (9,387) | |||
Total other expense | (10,533) | (11,240) | (22,211) | (21,490) | |||
Income before provision for income taxes | 51,713 | 79,955 | 112,315 | 171,273 | |||
Provision for income taxes | 12,566 | 18,390 | 27,474 | 40,580 | |||
Net income | 39,147 | 61,565 | 84,841 | 130,693 | |||
Less: Net loss attributable to noncontrolling interest | (167) | (282) | (1,096) | (504) | |||
Net income attributable to MSC Industrial | $ 39,314 | $ 61,847 | $ 85,937 | $ 131,197 | |||
Per share data attributable to MSC Industrial: | |||||||
Net income per common share: | |||||||
Basic | $ 0.70 | $ 1.10 | $ 1.54 | $ 2.33 | |||
Diluted | $ 0.70 | $ 1.10 | $ 1.54 | $ 2.32 | |||
Weighted-average shares used in computing net income per common share: | |||||||
Basic | 55,793 | 56,325 | 55,845 | 56,377 | |||
Diluted | 55,851 | 56,467 | 55,960 | 56,595 | |||
MSC INDUSTRIAL DIRECT CO., INC. Condensed Consolidated Statements of Comprehensive Income (In thousands) (Unaudited)
| |||||||
Thirteen Weeks Ended | Twenty-Six Weeks Ended | ||||||
March 1, | March 2, | March 1, | March 2, | ||||
Net income, as reported | $ 39,147 | $ 61,565 | $ 84,841 | $ 130,693 | |||
Other comprehensive income, net of tax: | |||||||
Foreign currency translation adjustments | (2,596) | 57 | (6,662) | 461 | |||
Comprehensive income | 36,551 | 61,622 | 78,179 | 131,154 | |||
Comprehensive income attributable to noncontrolling interest: | |||||||
Net loss | 167 | 282 | 1,096 | 504 | |||
Foreign currency translation adjustments | 57 | (120) | 291 | (76) | |||
Comprehensive income attributable to MSC Industrial | $ 36,775 | $ 61,784 | $ 79,566 | $ 131,582 | |||
MSC INDUSTRIAL DIRECT CO., INC. Condensed Consolidated Statements of Cash Flows (In thousands)(Unaudited)
| |||
Twenty-Six Weeks Ended | |||
March 1, | March 2, | ||
Cash Flows from Operating Activities: | |||
Net income | $ 84,841 | $ 130,693 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 44,671 | 40,372 | |
Amortization of cloud computing arrangements | 995 | 703 | |
Non-cash operating lease cost | 12,189 | 11,020 | |
Stock-based compensation | 7,192 | 9,889 | |
Loss on disposal of property, plant and equipment | 401 | 236 | |
Non-cash changes in fair value of estimated contingent consideration | 269 | 441 | |
Provision for credit losses | 4,316 | 2,354 | |
Expenditures for cloud computing arrangements | (1,080) | (6,298) | |
Changes in operating assets and liabilities: | |||
Accounts receivable | 10,514 | 6,468 | |
Inventories | (3,695) | 44,476 | |
Prepaid expenses and other current assets | (10,827) | (22,714) | |
Operating lease liabilities | (12,304) | (11,234) | |
Other assets | 67 | 2,813 | |
Accounts payable and accrued liabilities | 18,785 | (49,308) | |
Total adjustments | 71,493 | 29,218 | |
Net cash provided by operating activities | 156,334 | 159,911 | |
Cash Flows from Investing Activities: | |||
Expenditures for property, plant and equipment | (49,957) | (43,783) | |
Cash used in acquisitions, net of cash acquired | (790) | (9,868) | |
Net cash used in investing activities | (50,747) | (53,651) | |
Cash Flows from Financing Activities: | |||
Repurchases of Class A Common Stock | (30,541) | (148,677) | |
Payments of regular cash dividends | (94,933) | (93,964) | |
Proceeds from sale of Class A Common Stock in connection with Associate Stock Purchase Plan | 2,237 | 2,327 | |
Proceeds from exercise of Class A Common Stock options | 120 | 8,251 | |
Borrowings under credit facilities | 197,000 | 297,000 | |
Payments under credit facilities | (166,750) | (202,000) | |
Borrowings under financing obligations | 699 | 3,850 | |
Other, net | (922) | (1,064) | |
Net cash used in financing activities | (93,090) | (134,277) | |
Effect of foreign exchange rate changes on cash and cash equivalents | (809) | 192 | |
Net increase (decrease) in cash and cash equivalents | 11,688 | (27,825) | |
Cash and cash equivalents—beginning of period | 29,588 | 50,052 | |
Cash and cash equivalents—end of period | $ 41,276 | $ 22,227 | |
Supplemental Disclosure of Cash Flow Information: | |||
Cash paid for income taxes | $ 31,101 | $ 55,743 | |
Cash paid for interest | $ 12,250 | $ 11,996 | |
Non-GAAP Financial Measures
To supplement MSC's unaudited selected financial data presented consistent with accounting principles generally accepted in
These non-GAAP financial measures are not presented in accordance with GAAP or an alternative for GAAP financial measures and may be different from similar non-GAAP financial measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP financial measure and should only be used to evaluate MSC's results of operations in conjunction with the corresponding GAAP financial measure.
This press release also includes certain forward-looking information that is not presented in accordance with GAAP. The Company believes that a quantitative reconciliation of such forward-looking information to the most directly comparable financial measure calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts because a reconciliation of these non-GAAP financial measures would require the Company to predict the timing and likelihood of potential future events such as restructurings, M&A activity, capital expenditures and other infrequent or unusual gains and losses. Neither the timing or likelihood of these events, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of such forward-looking information to the most directly comparable GAAP financial measure is not provided.
- Results Excluding Restructuring and Other Costs, Share Reclassification Costs (prior year) and Acquisition-Related Costs (prior year)
In calculating certain non-GAAP financial measures, we exclude restructuring and other costs, share reclassification costs (prior year) and acquisition-related costs (prior year), and tax effects. Management makes these adjustments to facilitate a review of the Company's operating performance on a comparable basis between periods, for comparing with forecasts and strategic plans, for identifying and analyzing trends in the Company's underlying business and for benchmarking performance externally against competitors. We believe that investors benefit from seeing results from the perspective of management in addition to seeing results presented in accordance with GAAP for the same reasons and purposes for which management uses such non-GAAP financial measures.
MSC INDUSTRIAL DIRECT CO., INC. | |||||
Reconciliation of GAAP and Non-GAAP Financial Information | |||||
Thirteen weeks Ended March 1, 2025 | |||||
(In thousands, except percentages and per share data) | |||||
GAAP Financial | Items Affecting | Non-GAAP | |||
Total MSC | Restructuring and | Adjusted Total | |||
Net Sales | $ 891,717 | $ — | $ 891,717 | ||
Cost of Goods Sold | 526,487 | — | 526,487 | ||
Gross Profit | 365,230 | — | 365,230 | ||
Gross Margin | 41.0 % | — % | 41.0 % | ||
Operating Expenses | 301,578 | — | 301,578 | ||
Operating Expenses as % of Sales | 33.8 % | — % | 33.8 % | ||
Restructuring and Other Costs | 1,406 | 1,406 | — | ||
Income from Operations | 62,246 | (1,406) | 63,652 | ||
Operating Margin | 7.0 % | 0.2 % | 7.1 % | ||
Total Other Expense | (10,533) | — | (10,533) | ||
Income before provision for income taxes | 51,713 | (1,406) | 53,119 | ||
Provision for income taxes | 12,566 | (337) | 12,903 | ||
Net income | 39,147 | (1,069) | 40,216 | ||
Net loss attributable to noncontrolling interest | (167) | — | (167) | ||
Net income attributable to MSC Industrial | $ 39,314 | $ (1,069) | $ 40,383 | ||
Net income per common share: | |||||
Diluted | $ 0.70 | $ (0.02) | $ 0.72 | ||
*Individual amounts may not agree to the total due to rounding. |
MSC INDUSTRIAL DIRECT CO., INC. | |||||
Reconciliation of GAAP and Non-GAAP Financial Information | |||||
Twenty-Six Weeks Ended March 1, 2025 | |||||
(In thousands, except percentages and per share data) | |||||
GAAP Financial | Items Affecting | Non-GAAP | |||
Total MSC | Restructuring and | Adjusted Total | |||
Net Sales | $ 1,820,201 | $ — | $ 1,820,201 | ||
Cost of Goods Sold | 1,076,784 | — | 1,076,784 | ||
Gross Profit | 743,417 | — | 743,417 | ||
Gross Margin | 40.8 % | — % | 40.8 % | ||
Operating Expenses | 605,141 | — | 605,141 | ||
Operating Expenses as % of Sales | 33.2 % | — % | 33.2 % | ||
Restructuring and Other Costs | 3,750 | 3,750 | — | ||
Income from Operations | 134,526 | (3,750) | 138,276 | ||
Operating Margin | 7.4 % | 0.2 % | 7.6 % | ||
Total Other Expense | (22,211) | — | (22,211) | ||
Income before provision for income taxes | 112,315 | (3,750) | 116,065 | ||
Provision for income taxes | 27,474 | (892) | 28,366 | ||
Net income | 84,841 | (2,858) | 87,699 | ||
Net loss attributable to noncontrolling interest | (1,096) | — | (1,096) | ||
Net income attributable to MSC Industrial | $ 85,937 | $ (2,858) | $ 88,795 | ||
Net income per common share: | |||||
Diluted | $ 1.54 | $ (0.05) | $ 1.59 | ||
*Individual amounts may not agree to the total due to rounding. |
MSC INDUSTRIAL DIRECT CO., INC. | |||||||
Reconciliation of GAAP and Non-GAAP Financial Information | |||||||
Thirteen Weeks Ended March 2, 2024 | |||||||
(In thousands, except percentages and per share data) | |||||||
GAAP | Items Affecting Comparability | Non-GAAP | |||||
Total MSC | Restructuring | Acquisition- | Adjusted Total | ||||
Net Sales | $ 935,348 | $ — | $ — | $ 935,348 | |||
Cost of Goods Sold | 546,737 | — | — | 546,737 | |||
Gross Profit | 388,611 | — | — | 388,611 | |||
Gross Margin | 41.5 % | — % | — % | 41.5 % | |||
Operating Expenses | 291,235 | — | 465 | 290,770 | |||
Operating Expenses as % of Sales | 31.1 % | — % | 0.0 % | 31.1 % | |||
Restructuring and Other Costs | 6,181 | 6,181 | — | — | |||
Income from Operations | 91,195 | (6,181) | (465) | 97,841 | |||
Operating Margin | 9.7 % | 0.7 % | 0.0 % | 10.5 % | |||
Total Other Expense | (11,240) | — | — | (11,240) | |||
Income before provision for income taxes | 79,955 | (6,181) | (465) | 86,601 | |||
Provision for income taxes | 18,390 | (1,568) | (116) | 20,074 | |||
Net income | 61,565 | (4,613) | (349) | 66,527 | |||
Net loss attributable to noncontrolling interest | (282) | — | — | (282) | |||
Net income attributable to MSC Industrial | $ 61,847 | $ (4,613) | $ (349) | $ 66,809 | |||
Net income per common share: | |||||||
Diluted | $ 1.10 | $ (0.08) | $ (0.01) | $ 1.18 | |||
*Individual amounts may not agree to the total due to rounding. |
MSC INDUSTRIAL DIRECT CO., INC. | |||||||||
Reconciliation of GAAP and Non-GAAP Financial Information | |||||||||
Twenty-Six Weeks Ended March 2, 2024 | |||||||||
(In thousands, except percentages and per share data) | |||||||||
GAAP | Items Affecting Comparability | Non-GAAP | |||||||
Total MSC | Restructuring | Acquisition- | Share | Adjusted | |||||
Net Sales | $ 1,889,317 | $ — | $ — | $ — | $ 1,889,317 | ||||
Cost of Goods Sold | 1,107,589 | — | — | — | 1,107,589 | ||||
Gross Profit | 781,728 | — | — | — | 781,728 | ||||
Gross Margin | 41.4 % | — % | — % | — % | 41.4 % | ||||
Operating Expenses | 581,868 | — | 465 | 1,187 | 580,216 | ||||
Operating Expenses as % of Sales | 30.8 % | — % | 0.0 % | (0.1) % | 30.7 % | ||||
Restructuring and Other Costs | 7,097 | 7,097 | — | — | — | ||||
Income from Operations | 192,763 | (7,097) | (465) | (1,187) | 201,512 | ||||
Operating Margin | 10.2 % | 0.4 % | 0.0 % | 0.1 % | 10.7 % | ||||
Total Other Expense | (21,490) | — | — | — | (21,490) | ||||
Income before provision for income taxes | 171,273 | (7,097) | (465) | (1,187) | 180,022 | ||||
Provision for income taxes | 40,580 | (2,744) | (180) | (288) | 43,792 | ||||
Net income | 130,693 | (4,353) | (285) | (899) | 136,230 | ||||
Net loss attributable to noncontrolling interest | (504) | — | — | — | (504) | ||||
Net income attributable to MSC Industrial | $ 131,197 | $ (4,353) | $ (285) | $ (899) | $ 136,734 | ||||
Net income per common share: | |||||||||
Diluted | $ 2.32 | $ (0.08) | $ (0.01) | $ (0.02) | $ 2.42 | ||||
*Individual amounts may not agree to the total due to rounding. |
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SOURCE MSC Industrial Supply Co.
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