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 $0.75 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.
MSC Industrial Supply Co. (NYSE: MSM) announced the departure of Edward Martin, Senior Vice President of Sales & Customer Success, effective immediately. Kim Shacklett will serve as the Interim Vice President, bringing over 15 years of experience from J&L Industrial Supply and extensive knowledge in customer care and digital transformation. CEO Erik Gershwind expressed gratitude for Martin's contributions and confidence in Shacklett's ability to drive sales efforts and enhance market share. MSC plans to report its fiscal 2021 fourth quarter and full-year results on October 20, 2021.
MSC Industrial Supply Co. (NYSE: MSM) announced a live conference call on October 20, 2021, at 8:30 a.m. Eastern Time, to discuss its fiscal fourth quarter and full-year results. The call will be accessible via the company's website and through designated dial-in numbers.
This event aims to provide insights into MSC's operational performance and future initiatives. An archive of the broadcast will be available shortly after the call concludes, remaining accessible until October 27, 2021.
MSC Industrial Supply Co. (NYSE: MSM) has been recognized for the fifth consecutive year as one of the Best Places to Work in IT by IDG's Insider Pro and Computerworld, ranking No. 41 among large organizations. The recognition highlights MSC's commitment to challenging and rewarding career opportunities in IT, particularly during the global pandemic, where the IT team enabled safe remote work. The company continues to invest in advanced IT solutions including AI and big data analytics, enhancing benefits and compensation for its technical staff.
MSC Industrial reported Q3 FY2021 net sales of $866.3 million, up 3.8% year-over-year. Net income reached $94.4 million, marking a 21.5% increase. Diluted EPS rose to $1.68 from $1.40 in the prior year. Operating income improved to $128.6 million, with an operating margin of 14.8%. Despite positive trends in manufacturing markets, year-to-date sales declined 1.3%. MSC anticipates increased gross savings of $40 million for FY2021 and plans to reinvest $25 million into growth initiatives.
MSC Industrial Supply Co. (NYSE: MSM) has announced a cash dividend of $0.75 per share, payable on July 27, 2021 to shareholders of record by July 13, 2021. The ex-dividend date is set for July 12, 2021. This decision reflects the company's commitment to returning value to its shareholders while continuing to support its operational growth and stability within the metalworking and MRO sectors.
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