$MSM (MSC Industrial Direct Co. Inc.)

$MSM {{ '2016-07-06T13:15:33+0000' | timeago}} • Webcast

$MSM said it paid out approx. $26MM in dividends and repaid $65MM of debt, net of borrowings, in 3Q16. The company ended 3Q16 with $32MM in cash and cash equivalents and $263MM in debt, mostly comprised of $194MM on its term loan and the $40MM balance on its revolving credit facility for a leverage ratio of 0.5 times.

$MSM {{ '2018-01-10T12:40:41+0000' | timeago}} • Announcement

$MSM said its sales target for 2Q18 is between $761MM and $775MM, with average daily sales estimated to grow 9.1% annually. The company expects earnings per share in the range of $1.93 to $2.03 for the second quarter. Adjusted earnings, excluding special items, are forecasted between $1.00 per share and $1.04 per share.

$MSM {{ '2018-01-10T12:34:18+0000' | timeago}} • Announcement

$MSM, a distributor of metalworking and maintenance operations, reported a marked rise in 1Q18 profit on higher sales, helped by productivity growth and inputs from acquisitions. First quarter profit was $60MM or $1.05 per share, up from $54MM or $0.96 per share reported in the same period last year. Total sales moved up 12% to $769MM.

$MSM {{ '2018-01-03T14:15:57+0000' | timeago}} • Announcement

$MSM's BoD declared a cash dividend of $0.58 per share, representing a 21% increase from the previous regular quarterly dividend of $0.48 per share. The dividend is payable on Jan. 30, 2018 to shareholders of record at the close of business on Jan. 16, 2018. The ex-dividend date is Jan. 12, 2018.

$MSM {{ '2017-08-07T15:55:04+0000' | timeago}} • Announcement

$MSM acquired  DECO Tool Supply, an industrial supply distributor based in Davenport, Iowa. $MSM will be able to provide DECO customers access to the company's 1MM-plus product portfolio to support their full metalworking and maintenance, repair and operations needs.

$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.

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