MSC Industrial Direct Co Inc Files 10-Q for Period Ending December 2, 2023

TL;DR

<b>MSC Industrial Direct Co Inc filed its quarterly report (10-Q) for the period ending December 2, 2023.</b>

AI Summary

MSC INDUSTRIAL DIRECT CO INC (MSM) filed a Quarterly Report (10-Q) with the SEC on January 9, 2024. Filing is a 10-Q for MSC Industrial Direct Co Inc. The reporting period concluded on December 2, 2023. The filing was made on January 9, 2024. The company's fiscal year ends on August 31. Incorporated in New York.

Why It Matters

For investors and stakeholders tracking MSC INDUSTRIAL DIRECT CO INC, this filing contains several important signals. This filing provides an update on the company's financial performance and position for the specified quarter. Investors and analysts can use this report to assess the company's operational health and make informed investment decisions.

Risk Assessment

Risk Level: low — MSC INDUSTRIAL DIRECT CO INC shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance drivers and outlook.

Key Numbers

• 2023-12-02 — Period End Date (Conformed Period of Report)
• 2024-01-09 — Filing Date (Filed as of Date)
• 0831 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• MSC INDUSTRIAL DIRECT CO INC (company) — Filer
• 2023-12-02 (date) — Conformed Period of Report
• 2024-01-09 (date) — Filed as of Date
• NY (location) — State of Incorporation
• 515 BROADHOLLOW ROAD (address) — Business Address Street 1
• MELVILLE (location) — Business Address City
• 11747 (postal_code) — Business Address ZIP
• 516-812-2000 (phone_number) — Business Phone

Forward-Looking Statements

• The slight decrease in Class A shares suggests potential ongoing share repurchases. (MSC INDUSTRIAL DIRECT CO INC) — medium confidence, target: 2024-08-31

FAQ

Industry Context

MSC Industrial Direct Co Inc operates in the wholesale - industrial machinery & equipment sector.

Regulatory Implications

This filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze the company's revenue and profitability trends from the financial statements.
2. Examine any disclosed risks or uncertainties that could impact future performance.
3. Compare key financial metrics to previous periods and industry benchmarks.

Key Dates

• 2023-12-02: Period End Date — End of the reporting quarter.
• 2024-01-09: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 2, 2023, providing an update from previous filings.

Key Financial Figures

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

Filing Documents

• msm-20231202.htm (10-Q) — 822KB
• exhibit102formofrestricted.htm (EX-10.2) — 58KB
• exhibit103formofperformanc.htm (EX-10.3) — 80KB
• exhibit104executiveseveran.htm (EX-10.4) — 65KB
• exhibit105mscindustrialdir.htm (EX-10.5) — 123KB
• msm-20231202xex311.htm (EX-31.1) — 9KB
• msm-20231202xex312.htm (EX-31.2) — 10KB
• msm-20231202xex321.htm (EX-32.1) — 5KB
• msm-20231202xex322.htm (EX-32.2) — 5KB
• image_1.jpg (GRAPHIC) — 0KB
• image_3.jpg (GRAPHIC) — 235KB
• 0001003078-24-000008.txt (&nbsp;) — 5970KB
• msm-20231202.xsd (EX-101.SCH) — 37KB
• msm-20231202_cal.xml (EX-101.CAL) — 60KB
• msm-20231202_def.xml (EX-101.DEF) — 214KB
• msm-20231202_lab.xml (EX-101.LAB) — 588KB
• msm-20231202_pre.xml (EX-101.PRE) — 392KB
• msm-20231202_htm.xml (XML) — 563KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of December 2 , 2023 and September 2 , 20 23 1 Condensed Consolidated Statements of Income for the Thirteen Weeks Ended December 2 , 2023 and December 3 , 2022 2 Condensed Consolidated Statements of Comprehensive Income for the Thirteen Weeks Ended December 2 , 2023 and December 3 , 2022 3 Condensed Consolidated Statements of Shareholders' Equity for the Thirteen Weeks Ended December 2 , 2023 and December 3 , 2022 4 Condensed Consolidated Statements of Cash Flows for the Thirteen Weeks Ended December 2 , 2023 and December 3 , 2022 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27

Other Information

Item 5. Other Information 27 Item 6. Exhibits 28

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. MSC INDUSTRIAL DIRECT CO., INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) December 2, 2023 September 2, 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 25,805 $ 50,052 Accounts receivable, net of allowance for credit losses of $ 20,271 and $ 22,747 , respectively 414,280 435,421 Inventories 709,362 726,521 Prepaid expenses and other current assets 121,519 105,519 Total current assets 1,270,966 1,317,513 Property, plant and equipment, net 322,091 319,660 Goodwill 718,318 718,174 Identifiable intangibles, net 106,890 110,641 Operating lease assets 61,076 65,909 Other assets 14,383 12,237 Total assets $ 2,493,724 $ 2,544,134 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Current portion of debt including obligations under finance leases $ 244,048 $ 229,935 Current portion of operating lease liabilities 20,694 21,168 Accounts payable 188,976 226,299 Accrued expenses and other current liabilities 174,140 172,034 Total current liabilities 627,858 649,436 Long-term debt including obligations under finance leases 294,430 224,391 Noncurrent operating lease liabilities 41,410 45,924 Deferred income taxes and tax uncertainties 131,801 131,801 Total liabilities 1,095,499 1,051,552 Commitments and Contingencies Shareholders' Equity: MSC Industrial Shareholders' Equity: Preferred Stock; $ 0.001 par value; 5,000,000 shares authorized; none issued and outstanding — — Class A Common Stock ( one vote per share); $ 0.001 par value; 100,000,000 shares authorized; 57,714,018 and 48,075,100 shares issued, respectively 58 48 Class B Common Stock ( 10 votes per share); $ 0.001 par value; 0 shares authorized; 0 and 8,654,010 shares issued and outstanding, respectively — 9 Additional paid-in capital 1,052,729 849,502 Retained earnings 464,962 755,007 Accumulated other comprehensive loss ( 17,277 ) ( 17,725 ) Class A treasury stock, at cost, 1,304,313 and 1,2

View Full Filing

View this 10-Q filing on SEC EDGAR