Welcome to our dedicated page for MSC Industrial Direct Co. news (Ticker: MSM), a resource for investors and traders seeking the latest updates and insights on MSC Industrial Direct Co. stock.
MSC Industrial Direct Co., Inc. (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair, and operations (MRO) products and services in North America. With over 80 years of industry experience and approximately 2.4 million products in its portfolio, MSC helps businesses achieve higher productivity, profitability, and growth. The company operates primarily in the United States but also has a presence in Canada, Mexico, and the United Kingdom. In fiscal 2023, MSC generated $4.0 billion in sales, with 95% of those sales from the U.S.
MSC's experienced team of over 7,000 associates is committed to delivering value through inventory management, supply chain solutions, and deep industry expertise. The company has 11 fulfillment centers and offers a wide range of solutions, including vending, in-plant services, and vendor-managed inventory, to meet the diverse needs of its customers.
MSC Industrial Direct recently completed several strategic initiatives aimed at enhancing corporate governance and operational excellence. Notably, the company eliminated its dual-class share structure, aligning its voting rights and financial interests with all shareholders and broadening its investor appeal. The company also reported strong financial performance, exceeding $4 billion in annual sales for the first time, thanks to robust execution of its Mission Critical growth initiatives.
MSC's acquisition of intellectual property assets from Schmitz Manufacturing Research & Technology LLC (SMRT) further strengthens its technological capabilities in the machining industry. This acquisition is expected to drive innovation, reduce manufacturing costs, and improve productivity for MSC's customers.
Despite facing macroeconomic challenges, MSC continues to outperform market indices by leveraging its strategic investments and strong market position. The company remains focused on diversifying its end markets, expanding its solutions business, and maintaining high standards of corporate governance, making it a reliable partner for industrial customers.
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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