MSC Industrial Direct Files Q3 2024 10-Q

TL;DR

MSC Industrial Direct's Q3 2024 10-Q is in. Check financials for the industrial machinery wholesale giant.

AI Summary

MSC Industrial Direct Co Inc. filed its 10-Q for the period ending June 1, 2024. The filing details the company's financial performance and operations during the third quarter of its fiscal year. Key financial metrics and operational updates are provided, reflecting the company's standing in the industrial machinery and equipment wholesale sector.

Why It Matters

This filing provides investors and analysts with a detailed look at MSC Industrial Direct's financial health and operational performance for the latest quarter, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• Q3 2024 — Fiscal Quarter (Reporting period for the 10-Q filing)
• 0831 — Fiscal Year End (Indicates the end of the company's fiscal year)

Key Players & Entities

• MSC INDUSTRIAL DIRECT CO INC (company) — Filer of the 10-Q
• 20240601 (date) — End of the reporting period
• 515 BROADHOLLOW ROAD, MELVILLE, NY 11747 (address) — Company's business and mailing address
• 516-812-2000 (phone_number) — Company's 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-20240601.htm (10-Q) — 1098KB
• msm-20240601xex311.htm (EX-31.1) — 9KB
• msm-20240601xex312.htm (EX-31.2) — 10KB
• msm-20240601xex321.htm (EX-32.1) — 5KB
• msm-20240601xex322.htm (EX-32.2) — 5KB
• 0001003078-24-000076.txt ( ) — 6142KB
• msm-20240601.xsd (EX-101.SCH) — 39KB
• msm-20240601_cal.xml (EX-101.CAL) — 63KB
• msm-20240601_def.xml (EX-101.DEF) — 233KB
• msm-20240601_lab.xml (EX-101.LAB) — 585KB
• msm-20240601_pre.xml (EX-101.PRE) — 422KB
• msm-20240601_htm.xml (XML) — 774KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of June 1, 2024 and September 2, 2023 1 Condensed Consolidated Statements of Income for the Thirteen and Thirty-Nine Weeks Ended June 1, 2024 and June 3, 2023 2 Condensed Consolidated Statements of Comprehensive Income for the Thirteen and Thirty-Nine Weeks Ended June 1, 2024 and June 3, 202 3 3 Condensed Consolidated Statements of Shareholders' Equity for the Thirteen and Thirty-Nine Weeks Ended June 1, 2024 and June 3, 2023 4 Condensed Consolidated Statements of Cash Flows for the Thirty-Nine Weeks Ended June 1, 2024 and June 3, 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 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 30

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31

Other Information

Item 5. Other Information 31 Item 6. Exhibits 32

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) June 1, 2024 September 2, 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 25,928 $ 50,052 Accounts receivable, net of allowance for credit losses of $ 21,076 and $ 22,747 , respectively 419,810 435,421 Inventories 665,638 726,521 Prepaid expenses and other current assets 101,472 105,519 Total current assets 1,212,848 1,317,513 Property, plant and equipment, net 344,787 319,660 Goodwill 721,932 718,174 Identifiable intangibles, net 102,854 110,641 Operating lease assets 60,878 65,909 Other assets 24,495 12,237 Total assets $ 2,467,794 $ 2,544,134 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Current portion of debt including obligations under finance leases $ 206,335 $ 229,935 Current portion of operating lease liabilities 22,235 21,168 Accounts payable 205,644 226,299 Accrued expenses and other current liabilities 149,298 172,034 Total current liabilities 583,512 649,436 Long-term debt including obligations under finance leases 299,812 224,391 Noncurrent operating lease liabilities 39,532 45,924 Deferred income taxes and tax uncertainties 130,729 131,801 Total liabilities 1,053,585 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; 57,409,287 and 48,075,100 shares issued, respectively 57 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 1,063,738 849,502 Retained earnings 470,085 755,007 Accumulated other comprehensive loss ( 17,553 ) ( 17,725 ) Class A treasury stock, at cost, 1,286,332 and 1,230,

View Full Filing

View this 10-Q filing on SEC EDGAR