MSC Industrial Direct Co Inc Files 10-Q for Period Ending March 2, 2024

AI Summary

MSC INDUSTRIAL DIRECT CO INC (MSM) filed a Quarterly Report (10-Q) with the SEC on March 28, 2024. MSC Industrial Direct Co Inc filed a 10-Q report for the period ending March 2, 2024. The filing covers the second quarter of the fiscal year. The company's headquarters are located at 515 Broadhollow Road, Melville, NY 11747. The fiscal year end for MSC Industrial Direct Co Inc is August 31st. The filing was made on March 28, 2024.

Why It Matters

For investors and stakeholders tracking MSC INDUSTRIAL DIRECT CO INC, this filing contains several important signals. This 10-Q filing provides investors with a detailed update on the company's financial performance and position during the second quarter. The information contained within this report is crucial for understanding the company's operational results, liquidity, and any material changes since the last filing.

Risk Assessment

Risk Level: — MSC INDUSTRIAL DIRECT CO INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent unusual or high-risk disclosures.

Analyst Insight

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

Key Players & Entities

• MSC INDUSTRIAL DIRECT CO INC (company) — Filer
• 515 BROADHOLLOW ROAD (location) — Business Address
• MELVILLE (location) — Business Address City
• NY (location) — Business Address State
• 11747 (location) — Business Address Zip
• 2024-03-02 (date) — Period of Report
• 2024-03-28 (date) — Filing Date

FAQ

Industry Context

MSC Industrial Direct Co Inc operates in the wholesale trade of industrial machinery and 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 financial statements for revenue, net income, and EPS trends.
2. Review the balance sheet for changes in assets, liabilities, and equity.
3. Examine the cash flow statement for operating, investing, and financing activities.

Key Dates

• 2024-03-02: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-03-28: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 10-K annual report.

Key Financial Figures

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

Filing Documents

• msm-20240302.htm (10-Q) — 1109KB
• msm-20240302xex311.htm (EX-31.1) — 9KB
• msm-20240302xex312.htm (EX-31.2) — 10KB
• msm-20240302xex321.htm (EX-32.1) — 5KB
• msm-20240302xex322.htm (EX-32.2) — 5KB
• 0001003078-24-000050.txt ( ) — 6324KB
• msm-20240302.xsd (EX-101.SCH) — 41KB
• msm-20240302_cal.xml (EX-101.CAL) — 70KB
• msm-20240302_def.xml (EX-101.DEF) — 254KB
• msm-20240302_lab.xml (EX-101.LAB) — 597KB
• msm-20240302_pre.xml (EX-101.PRE) — 438KB
• msm-20240302_htm.xml (XML) — 808KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of Ma rch 2, 202 4 and September 2, 2023 1 Condensed Consolidated Statements of Income for the Thirteen and Twenty-Six Weeks Ended March 2, 2024 and March 4 , 202 3 2 Condensed Consolidated Statements of Comprehensive Income for the Thirteen and Twenty-Six Weeks Ended March 2, 2024 and March 4, 2023 3 Condensed Consolidated Statements of Shareholders' Equity for the Thirteen and Twenty -Six Weeks Ended March 2, 2024 and March 4, 2023 4 Condensed Consolidated Statements of Cash Flows for the Twenty-Six Weeks Ended March 2, 2024 and March 4, 2023 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 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Other Information

Item 5. Other Information 32 Item 6. Exhibits 33

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) March 2, 2024 September 2, 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 22,227 $ 50,052 Accounts receivable, net of allowance for credit losses of $ 20,260 and $ 22,747 , respectively 428,699 435,421 Inventories 685,373 726,521 Prepaid expenses and other current assets 128,614 105,519 Total current assets 1,264,913 1,317,513 Property, plant and equipment, net 330,765 319,660 Goodwill 722,101 718,174 Identifiable intangibles, net 106,833 110,641 Operating lease assets 61,943 65,909 Other assets 14,839 12,237 Total assets $ 2,501,394 $ 2,544,134 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Current portion of debt including obligations under finance leases $ 257,829 $ 229,935 Current portion of operating lease liabilities 21,686 21,168 Accounts payable 208,111 226,299 Accrued expenses and other current liabilities 142,804 172,034 Total current liabilities 630,430 649,436 Long-term debt including obligations under finance leases 294,474 224,391 Noncurrent operating lease liabilities 41,230 45,924 Deferred income taxes and tax uncertainties 131,761 131,801 Total liabilities 1,097,895 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; 57,600,348 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 1,059,405 849,502 Retained earnings 463,874 755,007 Accumulated other comprehensive loss ( 17,340 ) ( 17,725 ) Class A treasury stock, at cost, 1,299,705 and 1,230

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View this 10-Q filing on SEC EDGAR