$MSM (MSC Industrial Direct Co. Inc.)

$MSM {{ '2016-07-06T11:58:12+0000' | timeago}} • Announcement

Industrial equipment distributor $MSM posted higher 3Q16 earnings, helped by lower other expenses compared to 3Q15. Net income was $64.82MM or $1.05 per diluted share compared to $63.34MM or $1.03 per diluted share last year. 3Q16 net sales of $727.5MM declined 2.4% YoverY and declined 3.9% on an ADS basis. Adjusted diluted EPS was $1.05.

$MSM {{ '2017-07-13T12:03:45+0000' | timeago}} • Webcast

$MSM expects 4Q17 gross margins to be 43.8%, plus or minus 20 basis points and sees a typical sequential decline in margins for 4Q17. The company expects midpoint operating expenses to be about $230MM and effective tax rate of 37.3%. Operating margin is now expected to be around 12.6% at the midpoint of forecast.

$MSM {{ '2017-07-13T11:58:52+0000' | timeago}} • Webcast

$MSM's capital expenditures were $12.4MM in 3Q17 and now expects its FY17 capital expenditures to be around $55-60MM. $MSM's operating cash flow conversion ratio and that’s net cash from operating activities divided by net income was around 99% in 3Q17 and it expects to end the fiscal year at roughly the same level.

$MSM {{ '2017-07-13T11:56:07+0000' | timeago}} • Webcast

$MSM added about 5,000 net SKUs in 3Q17 and total active salable SKU count is over 1.5MM. $MSM ended the quarter at 2,309 field sales and service associates. The company expects a slight decline over the following few months. And $MSM expects this trend to continue as its sales effectiveness programs gain traction.

$MSM {{ '2017-07-13T11:54:32+0000' | timeago}} • Webcast

$MSM said the improvement in growth rates during 3Q17 was pretty much across the board, with particularly strong growth in national accounts which increased in the mid single-digit range with building momentum through the quarter. Government growth was in the low single-digit range.

$MSM {{ '2017-07-12T11:07:12+0000' | timeago}} • Announcement

$MSM expects net sales for 4Q17 of $732-746MM, based on current market conditions. At the midpoint, average daily sales are expected to increase roughly 7% compared to last year. The company expects EPS of $0.97-1.01 for 4Q17.

$MSM {{ '2017-07-12T11:05:25+0000' | timeago}} • Announcement

$MSM's average daily sales for 3Q17 increased by 3.8%. Most of this came from customer types and products with lower gross margins and, hence, its gross profit was slightly below expectations. However, offsetting this was continued focus on expense control, resulting in operating margins 20 basis points ahead of the midpoint of guidance.

$MSM {{ '2017-07-12T11:03:36+0000' | timeago}} • Announcement

$MSM reported a decline in 3Q17 earnings due to higher costs and expenses. Net income fell to $62.84MM from $64.82MM last year, while EPS rose to $1.09 from $1.05 on lower weighted average shares. Net sales grew to $743.92MM from $727.5MM, on improving sales growth across all of customer types.

$MSM {{ '2017-05-30T16:31:55+0000' | timeago}} • Announcement

$MSM appointed Stephen Szilagyi as SVP, Supply Chain. Szilagyi's primary responsibilities at $MSM will include the oversight of customer fulfillment centers, transportation and logistics, purchasing and inventory management.

$MSM {{ '2017-04-06T15:29:37+0000' | timeago}} • Webcast

$MSM said that regarding its customer feedbacks, the company is seeing a building optimism in its customers. The company is taking a wait and see approach in terms of the various policy reforms. However generally, $MSM is seeing more strength and confidence in its customers.

$MSM {{ '2017-04-06T14:23:48+0000' | timeago}} • Webcast

$MSM saw improvement in growth rate across its customers, with government business up slightly YoY in 2Q17. National accounts grew in the mid single digit range and above the company average. $MSM ended 2Q17 at 2,352 associates, flat with last quarter, while expects a decline in the coming quarter as the sales effectiveness program gain traction.

$MSM {{ '2017-04-06T11:10:56+0000' | timeago}} • Announcement

For 3Q17, $MSM expects net sales to be between $734-748MM and diluted EPS to be between $1.05 and $1.09. Additionally, at the midpoint, average daily sales are expected to increase about 3.5% compared to 3Q16.

$MSM {{ '2017-04-06T11:07:47+0000' | timeago}} • Announcement

Industrial equipment distributor $MSM reported an increase in 2Q17 earnings, aided by a decline in operating expenses and an increase in average daily sales. Net income rose 8.21% to $53.6MM or $0.93 per share from $49.53MM or $0.80 per share a year ago. Revenue increased 2.87% to $703.8MM from $684.12MM.

$MSM {{ '2017-01-11T14:38:17+0000' | timeago}} • Webcast

Regarding stock keeping unit (SKU) growth, $MSM said its number for 2017 is around 75,000 to 85,000, which is slightly down from the last two years. The company said its strategy for growing SKU is through product line extension, product line fill in, and new supplier addition.

$MSM {{ '2017-01-11T14:08:52+0000' | timeago}} • Webcast

Commenting on the distribution channel vs. direct channel, $MSM said that distribution is winning as a channel in the marketplace and many of its suppliers are already doing their sales through distribution.

$MSM {{ '2017-01-11T13:56:51+0000' | timeago}} • Webcast

In terms of cash conversion, $MSM turned 139% of its net income into cash flow from operations during 1Q17. The company expects FY17 cash conversion to be about 100%.

$MSM {{ '2017-01-11T13:45:15+0000' | timeago}} • Webcast

$MSM said it has seen some supplier price increase activity that are selective and not broad based. The company anticipates to take a very modest price increase in the next two months, if the price increase activity continues in the market.

$MSM {{ '2017-01-11T12:14:29+0000' | timeago}} • Announcement

$MSM expects 2Q17 net sales of $688-701MM and EPS of $0.86-0.90. At the midpoint, average daily sales are expected to increase roughly 1.5% as compared to the previous year quarter.

$MSM {{ '2017-01-11T12:12:54+0000' | timeago}} • Announcement

$MSM reported a slight decline in 1Q17 earnings due to higher interest expenses as well as difficult demand environment and softness in pricing. Net income fell to $54.11MM from $55.03MM last year, while EPS rose to $0.95 from $0.89 on lower weighted average shares. Net sales dropped to $686.27MM from $706.82MM.

$MSM {{ '2016-12-21T23:41:41+0000' | timeago}} • Announcement

$MSM corrected its ex-dividend date for the recently declared quarterly dividend of $0.45 per share, to Jan. 6, 2017, which is payable on Jan. 24, 2017 to shareholders of record as of Jan. 10, 2017. Previously, the company announced the ex-dividend date as Jan. 20, 2017.

$MSM {{ '2016-08-05T18:29:48+0000' | timeago}} • Announcement

$MSM announced preliminary results of its "modified Dutch auction" tender offer for up to $300MM of its Class A common stock at price not less than $66.00 and not greater than $72.50, which expired on Aug. 4, 2016. Based on preliminary count, total of about 3.9MM shares were validly tendered and not validly withdrawn at or below price of $72.50.

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