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Feb 29, 2020
MSC Q2 2020 Earnings Report
MSC's financial results for the second quarter of fiscal year 2020 were reported.
Key Takeaways
MSC Industrial Supply Co. reported a 4.5% year-over-year decrease in net sales, with solid execution in a relatively soft environment. The company is focused on navigating the COVID-19 crisis and has implemented business continuity efforts.
Net sales decreased by 4.5% year-over-year to $786.1 million.
Operating income was $77.7 million, compared to $96.0 million in the prior year.
Operating margin was 9.9%, 20 basis points above the midpoint of the guidance range.
Diluted EPS was $1.00, at the midpoint of the guidance range.
MSC
MSC
Forward Guidance
Given the unprecedented uncertainty, the company will provide monthly updates on average daily sales developments following month-end close, as well as comments on the business trends.