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Aug 28, 2021
MSC Q4 2021 Earnings Report
MSC's Q4 2021 financial results were reported, featuring an 11.1% increase in net sales and diluted EPS of $1.18.
Key Takeaways
MSC Industrial Supply Co. reported strong Q4 2021 results, with net sales increasing by 11.1% year-over-year to $831.0 million and diluted EPS reaching $1.18. The company's average daily sales growth outperformed the Industrial Production Index by approximately 500 basis points, driven by the execution of its five growth drivers.
Net sales increased by 11.1% year-over-year, reaching $831.0 million.
Average daily sales growth was approximately 500 basis points above the Industrial Production Index.
Diluted EPS was $1.18, compared to $0.94 in the prior fiscal year quarter.
Adjusted diluted EPS was $1.26, compared to $1.09 in the prior fiscal year quarter.
Forward Guidance
MSC provided guidance for fiscal year 2022, targeting growth of at least 300 basis points above the Industrial Production Index and holding gross margins roughly flat. The company expects to save an additional $25 million and invest an additional $15 million in its Mission Critical program and expects to achieve incremental margins of 20% in its likely growth scenarios. Longer term goals include growing sales 400 basis points above the Industrial Production Index and returning ROIC to the high teens by the end of fiscal 2023.
Positive Outlook
- Targeting growth of at least 300 basis points above the Industrial Production Index.
- Holding gross margins roughly flat.
- Expecting to save an additional $25 million from Mission Critical program.
- Expecting to invest an additional $15 million in Mission Critical program.
- Expecting to achieve incremental margins of 20% in likely growth scenarios.
Challenges Ahead
- Additional supply chain challenges.
- Additional labor challenges.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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