MSC Industrial Direct Files 2024 10-K

TL;DR

MSC Industrial Direct's 2024 10-K is in. Full year financials are out.

AI Summary

MSC Industrial Direct Co Inc filed its 10-K for the fiscal year ending August 31, 2024. The filing details the company's financial performance and operational status. Key financial data and business segments are outlined, providing a comprehensive overview of the company's position in the industrial machinery and equipment wholesale sector.

Why It Matters

This filing provides investors and analysts with the official year-end financial and operational details for MSC Industrial Direct, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Players & Entities

• MSC INDUSTRIAL DIRECT CO INC (company) — Filer of the 10-K
• 2024-08-31 (date) — Fiscal year end
• 515 BROADHOLLOW ROAD, MELVILLE, NY 11747 (address) — Company business and mailing address
• 516-812-2000 (phone) — Company business phone number

FAQ

Key Financial Figures

• $0.001 — stered Class A Common Stock, par value $0.001 per share MSM New York Stock Exchange

Filing Documents

• msm-20240831.htm (10-K) — 1763KB
• fy24exhibit1017.htm (EX-10.17) — 59KB
• fy24exhibit1018.htm (EX-10.18) — 58KB
• fy24exhibit1019.htm (EX-10.19) — 28KB
• fy24exhibit211.htm (EX-21.1) — 18KB
• fy24exhibit231.htm (EX-23.1) — 7KB
• msm-20240831xex311.htm (EX-31.1) — 10KB
• msm-20240831xex312.htm (EX-31.2) — 10KB
• msm-20240831xex321.htm (EX-32.1) — 5KB
• msm-20240831xex322.htm (EX-32.2) — 5KB
• msm-20240831_g1.jpg (GRAPHIC) — 129KB
• msm-20240831_g2.jpg (GRAPHIC) — 103KB
• 0001003078-24-000107.txt ( ) — 11036KB
• msm-20240831.xsd (EX-101.SCH) — 68KB
• msm-20240831_cal.xml (EX-101.CAL) — 148KB
• msm-20240831_def.xml (EX-101.DEF) — 350KB
• msm-20240831_lab.xml (EX-101.LAB) — 921KB
• msm-20240831_pre.xml (EX-101.PRE) — 656KB
• msm-20240831_htm.xml (XML) — 1456KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 12 ITEM 1B. UNRESOLVED STAFF COMMENTS 21 ITEM 1C. CYBERSECURITY 21 ITEM 2.

PROPERTIES

PROPERTIES 22 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 22 ITEM 4. MINE SAFETY DISCLOSURES 22 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 23 ITEM 6. [RESERVED] 24 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 25 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 35 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 36 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 73 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 73 ITEM 9B. OTHER INFORMATION 77 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 77 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 77 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 77 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 77 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 77 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 78 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 79 ITEM 16. FORM 10-K SUMMARY 79

SIGNATURES

SIGNATURES 83 i Table of Conte nts PART I. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Discussions containing such forward-looking statements may be found in Item 1 of Part I and Item 7 of Part II of this Report, as well as within this Report generally. The words "will," "may," "believes," "anticipates," "thinks," "expects," "estimates," "plans," "intends" and similar expressions are intended to identify forward-looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management's assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward-looking statements. MSC Industrial Direct Co., Inc. (together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest, "MSC," "MSC Industrial," the "Company," "we," "us" or "our") expressly disclaims any obligation to publicly disclose any revisions to these forward-looking statements to reflect events or circumstances occurring subsequent to filing this Report with the United States Securities and Exchange Commission (the "SEC"), except to the extent required by applicable law. These forward-looking statements are subject to risks and uncertainties, including, without limitation, those discussed in Item 1A of Part I and Item 7 of Part II of this Report. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed

BUSINESS

ITEM 1. BUSINESS. General MSC is a leading North American distributor of a broad range of metalworking and maintenance, repair and operations ("MRO") products and services. With a history of driving innovation in industrial product distribution for more than 80 years, we help solve our manufacturing customers' metalworking and MRO challenges. Through our technical metalworking expertise and inventory management and other supply chain solutions, our team of more than 7,000 associates helps to keep our customers' manufacturing operations up and running and to improve their efficiency, productivity and profitability. We serve a broad range of customers throughout the United States, Canada, Mexico and the United Kingdom, from individual machine shops to Fortune 1000 manufacturing companies to government agencies such as the United States General Services Administration and the United States Department of Defense. We operate a sophisticated network of five customer fulfillment centers, nine regional inventory centers, 42 warehouses (40 in North America and two in Europe) and five manufacturing locations. Our customer fulfillment centers are located in or near Harrisburg, Pennsylvania; Atlanta, Georgia; Elkhart, Indiana; Reno, Nevada; and Hanover Park, Illinois. We offer approximately 2.4 million active, saleable stock-keeping units ("SKUs") through our E-commerce channels, including our website, https://www.mscdirect.com (the "MSC website"); our inventory management solutions; our catalogs; our brochures; and our customer care centers, customer fulfillment centers, regional inventory centers and warehouses. We carry many of the products we sell in our inventory, so that orders for these in-stock products are processed and fulfilled the day the order is received. We offer next-day delivery nationwide for qualifying orders placed by 8 p.m. Eastern Time. Our customers can choose among many convenient ways to place orders: the MSC website, eProcurement platforms, invent

View Full Filing

View this 10-K filing on SEC EDGAR