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 declared a cash dividend of $0.79 per share, marking a 5% increase from the previous dividend of $0.75. This dividend is scheduled for payment on November 29, 2022 to shareholders of record by November 15, 2022, with the ex-dividend date set for November 14, 2022. The company, a leading distributor in the metalworking and MRO sectors, continues to support its shareholders while driving productivity and growth across North America.
MSC Industrial Supply Co. (NYSE: MSM) announced a conference call scheduled for October 20, 2022, at 8:30 a.m. ET to discuss its fiscal 2022 fourth quarter and full year results. The call will provide insights into the company's current operations and will be accessible via a live broadcast on the internet. Interested participants can also dial in directly. An archive of the call will be available shortly after its conclusion and will remain accessible until November 3, 2022. MSC is a prominent distributor of metalworking and MRO products in North America.
MSC Industrial Supply Co. (NYSE: MSM) announced Martina McIsaac as the new Executive Vice President and Chief Operating Officer, effective October 3, 2022. McIsaac brings extensive leadership experience from Hilti Corporation, where she led North America to strong growth. Her role will focus on enhancing day-to-day operations, including sales and supply chain management. Doug Jones will transition to a part-time advisory role as he approaches retirement after over 20 years at MSC. The company aims to achieve high levels of organic growth and develop a diverse leadership team.
On August 1, 2022, Tower Fasteners was acquired by All Integrated Solutions (AIS), a subsidiary of MSC Industrial Supply Co. (NYSE:MSM), with XLCS Partners serving as the exclusive advisor. Tower, founded in 1967, is a value-added distributor of OEM fasteners to various sectors and has eight distribution centers across the U.S., Mexico, and Europe. This acquisition enhances MSC's position in the OEM fastener market, expanding its offerings to manufacturing customers. Tower will continue operating under its name, led by President Mark Shannon and its 100 associates.
MSC Industrial Supply reported Q3 fiscal 2022 net sales of $958.6 million, up 10.7% year-over-year. The gross margin improved to 42.9% compared to 42.3% last year. Diluted EPS rose to $1.78, a 6.0% increase, while adjusted diluted EPS jumped 28.2% to $1.82. The company anticipates continued double-digit average daily sales growth through Q4.
Management expressed optimism about momentum, aiming to grow revenues significantly above the Industrial Production index and enhance profitability in the upcoming fiscal year.
MSC Industrial Supply Co. (NYSE: MSM) has declared a cash dividend of $0.75 per share, scheduled for payment on July 26, 2022, to shareholders of record by the close of business on July 12, 2022. The ex-dividend date is set for July 11, 2022. This dividend reflects MSC's commitment to shareholder returns and is a part of its ongoing strategy to ensure profitability and growth in the North American industrial distribution sector.
MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM) has announced a conference call to review its fiscal 2022 third quarter results, scheduled for June 29, 2022, at 8:30 a.m. ET. The call will be broadcast live over the Internet, allowing investors to access earnings releases, webcast, and operational statistics via the company’s website. MSC is a leading distributor of Metalworking and Maintenance, Repair, and Operations (MRO) products in North America, boasting a product range of approximately 2 million items and a dedicated workforce of over 6,500 associates.
MSC Industrial Supply Co. (NYSE: MSM) reported fiscal Q2 2022 net sales of $862.5 million, an 11.4% increase year-over-year. Gross margin rose to 42.5% from 38.1%, while operating margin improved to 11.3%. Diluted EPS surged to $1.25, up from $0.32 in the previous year. The company anticipates maintaining adjusted operating margins between 12.5% and 13.1% for the fiscal year, indicating strong growth momentum despite pandemic-related challenges.
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