MSC Q2 2021 Earnings Report
Key Takeaways
MSC Industrial Direct Co. reported a decrease in net sales by 1.5% compared to the prior year quarter, with net sales of $774.0 million. Diluted EPS was $0.32, while adjusted diluted EPS was $1.03. The company's Mission Critical program delivered $9 million of gross cost out during the quarter.
Net sales decreased by 1.5% year-over-year to $774.0 million.
Operating income was $28.0 million, or $80.5 million excluding certain adjustments.
Diluted EPS was $0.32, compared to $1.00 in the prior year quarter.
Adjusted diluted EPS was $1.03, a slight increase from $1.02 in the prior year quarter.
MSC
MSC
Forward Guidance
MSC Industrial is positioned to reaccelerate growth, strengthened its value proposition, and extended its leadership in Metalworking. The company is on track to achieve its goals of growing 400 basis points above the Industrial Production Index and returning ROIC back to the high teens by the end of fiscal 2023.
Positive Outlook
- The improving environment and continued execution of growth and cost take-out programs are combining to position the company well.
- The company is emerging as a stronger company and is poised to reaccelerate growth.
- The company has strengthened its value proposition, with more to come.
- The company has further strengthened and extended its leadership position in its core business of Metalworking.
- The company is well on-track to achieve its goals of growing 400 basis points above the Industrial Production Index and returning ROIC back to the high teens by the end of fiscal 2023.