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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) 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.
MSC Industrial Supply Co. (NYSE: MSM) has declared a cash dividend of $0.75 per share, payable on April 26, 2022. Shareholders of record on April 12, 2022 will receive this dividend, with an ex-dividend date set for April 11, 2022. The company has been a leader in distributing metalworking and MRO products across North America for over 80 years, offering around 2 million products and comprehensive supply chain solutions.
MSC Industrial Supply Co. (NYSE: MSM) will host a live conference call on March 30, 2022, at 8:30 a.m. Eastern Time to discuss its fiscal 2022 second quarter results and current operations. Investors can access the earnings release, webcast, and presentation slides on the company's website. An archive of the call will be available for one week after its conclusion. MSC is a leading distributor in North America, providing nearly 2 million products and supply chain solutions, aided by a dedicated team of over 6,500 associates.
MSC Industrial Supply reported Q1 FY2022 net sales of $848.5 million, marking a 9.9% year-over-year increase. The company's operating income rose to $90.7 million, with a 10.7% operating margin. Diluted EPS reached $1.18, up 71% from the prior year. Adjusted diluted EPS was $1.25, reflecting a 12.6% increase. Despite gross margins falling short of expectations, MSC anticipates a rebound in Q2, aiming to maintain stable gross margins for the fiscal year. The company is optimistic about maintaining its growth trajectory with targets of exceeding the Industrial Production Index by 400 basis points.
MSC Industrial Supply Co. (NYSE: MSM) has declared a cash dividend of $0.75 per share, payable on January 25, 2022 to shareholders of record as of January 11, 2022. The ex-dividend date is January 10, 2022. This announcement reflects the company's ongoing commitment to returning value to its shareholders while continuing to support industrial customers with approximately 1.9 million products across North America.
MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM) has announced a conference call scheduled for December 22, 2021, at 8:30 a.m. Eastern Time to discuss its fiscal 2022 first quarter results and ongoing operations. The call will be accessible via the Internet and by telephone. An online archive of the event will be available within an hour post-call until January 5, 2022. The company, a leading distributor of Metalworking and MRO products in North America, leverages 80 years of expertise to provide nearly 2 million products and various supply chain solutions.
The University of Tennessee, Knoxville (UTK) and MSC Industrial Supply Co. have established a research partnership to enhance machining innovation across the U.S. Through this collaboration, MSC will leverage its expertise alongside UTK students and faculty at the MSC Machining Research Laboratory. This facility will focus on improving manufacturing efficiency and accuracy, particularly in Computer Numerical Control (CNC) machining. The partnership aims to provide vital resources for manufacturers in Tennessee and nationwide, further strengthening MSC's presence as a leader in machining technology.
MSC reported Q4 FY21 net sales of $831.0 million, a rise of 11.1% YoY, with an operating income of $91.2 million and an operating margin of 11.0%. Diluted EPS reached $1.18 compared to $0.94 in Q4 FY20. For FY21, total sales were $3.2 billion, up 1.6% YoY, but operating income declined 14% to $301.8 million. MSC anticipates growth above the Industrial Production Index and aims for incremental margins of 20% in fiscal 2022. The company also repurchased 231,000 shares during Q4.
MSC Industrial Supply Co. (NYSE: MSM) has declared a $0.75 cash dividend per share, payable on November 30, 2021, to shareholders of record by November 16, 2021. The ex-dividend date is set for November 15, 2021. This dividend reflects the company's commitment to returning value to shareholders amidst its operations in the North American metalworking and maintenance sectors.
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