ApTex, based in Waukesha, Wisconsin, is a production-oriented industrial distributor with a focus on cutting tools, abrasives, metalworking fluids, as well as workholding systems and components. ApTex is a highly technical metalworking distributor with a focus on value-added services and solutions to drive cost savings through every step of the customers' production process. Dean Meier, President of ApTex, said, "As we join the MSC family, we look forward to combining our technical expertise and solution-dr ...

About MSC Industrial Supply Co. Statements in this press release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact, that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including statements about results of operations and financial condition, expected future results, expected benefits from our investment and strategic plan ...

The market expects MSC Industrial (MSM) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended May 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. This distributor of industrial tools and supplies is expected to post quarterly earnings of $1.33 per share in its upcoming report, w ...

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MSC Industrial Direct Co Inc (NYSE:MSM) Q3 2024 Earnings Conference Call June 14, 2024 8:30 AM ET Company Participants Ryan Mills - Head of Investor Relations Erik Gershwind - President and Chief Executive Officer Kristen Actis-Grande - Executive Vice President and Chief Financial Officer Conference Call Participants Quinn Fredrickson - Baird Ken Newman - KeyBanc Capital Markets Stephen Volkmann - Jefferies Patrick Baumann - JPMorgan Operator Good morning and welcome to the MSC Industrial Supply Fiscal 2024 ...

MSC Industrial Direct Company, Inc. (MSM) announced preliminary financial results for the third quarter of fiscal 2024 (ended Jun 1, 2024). The company also updated its fiscal 2024 outlook. Adjusted earnings per share for the third fiscal quarter are expected to be $1.32-$1.34, which suggests a decline from the $1.74 per share reported in the year-ago quarter. It posted second-quarter fiscal 2024 adjusted earnings per share of $1.18. Backed by these factors, MSC Industrial lowered its 2024 outlook. The comp ...

Gershwind continued, "We are taking decisive actions in response to these results. We are maintaining focus on the areas of the business that are delivering, such as In Plant, Vending and other high touch solutions, making changes to accelerate Core Customer growth initiatives, especially the website rollout, and have taken corrective actions on the web price realignment to improve gross margin trends. We are determined to execute the next chapter of our Mission Critical journey and achieve our long-term go ...

Washington, D.C. 20549 __________________ FORM 10-Q ______________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended March 2, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 1-14130 __________________ MSC INDUSTRIAL DIRECT CO., INC. (Exact name ...

Financial Data and Key Metrics - Fiscal second quarter sales declined 2.7% year-over-year to $935 million [8] - Reported operating margin for the quarter was 9.7%, down from 11.9% in the prior year [10] - Adjusted operating margin was 10.5%, a decline of 170 basis points compared to the prior year [10] - Inventory reductions of $25 million were achieved during the quarter while maintaining high customer service levels [7] - Free cash flow generation was approximately $53 million in fiscal 2Q and $116 million fiscal year-to-date [11] Business Line Data and Key Metrics - Implant programs grew by 39% and vending installed base by 11% compared to the prior year [24] - Customers with solutions represent nearly 60% of revenues [6] - Vending average daily sales improved 6% year-over-year, representing 17% of total company net sales [113] - Implant program sales grew approximately 10% year-over-year, representing 16% of total company net sales [113] Market Data and Key Metrics - Public sector sales had slight year-over-year growth of 0.6%, driven by mid-single-digit growth from federal customers [29] - Core and other customers' average daily sales declined 5.7% during the quarter [29] - Acute demand softness was experienced in heavy manufacturing verticals, including end markets and tiered suppliers supporting the earlier stages of production and automotive [29] Company Strategy and Industry Competition - The company is focusing on reenergizing its core customer base and improving inventory management [4][5] - Automation investments in facilities like Elkhart, Indiana, and Harrisburg, Pennsylvania, are enabling operational efficiency [6] - The company is prioritizing improvements to its e-commerce platform to enhance the customer experience [25] - A new shared services center in Carretero, Mexico, has been opened to reduce labor costs while maintaining talent [27] Management Commentary on Operating Environment and Future Outlook - Management remains confident in the company's ability to improve revenue trends during the back half of the fiscal year and into fiscal 2025 [23] - The company expects price cost to be more favorable in the second half of the year [18] - Management is encouraged by early signs of improvement in core customer performance in March [35] - The company expects to achieve mid-teens adjusted operating margins under its new set of mission-critical objectives [26] Other Important Information - The company recorded roughly $6 million in restructuring expense primarily related to voluntary separation [30] - Capital expenditures during the quarter increased by approximately $10 million year-over-year to $25 million, driven by investments in digital and solutions growth [11] - The company repurchased $16 million of shares in the second quarter [101] Q&A Session Summary Question: What is the underlying assumption for second half IP growth? - The company expects steady improvement in IP, particularly in machinery and equipment and fabricated metals [54][55] Question: How is the company managing OpEx in the second half? - The company is focusing on productivity improvements and leveraging fixed costs on higher volumes to drive profitability [70] Question: What are the drivers of the expected revenue progression in the second half? - The company expects improvements from solutions, demand generation efforts, and public sector budget easing [67][68] Question: How is the company handling supply chain friction? - The impact of supply chain disruptions, including the Baltimore bridge incident, is projected to be modest [133] Question: What is the status of the digital revamp and product discovery platform? - The company is slightly delayed in rolling out search changes, with improvements expected over the next quarter and into Q4 [134]

Exhibit 99.1 NEWS MSC INDUSTRIAL SUPPLY CO. REPORTS FISCAL 2024 SECOND QUARTER RESULTS FISCAL 2024 Q2 HIGHLIGHTS MELVILLE, NY and DAVIDSON, NC, MARCH 28, 2024 - MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM), "MSC," "MSC Industrial" or the "Company," a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services, today reported financial results for its fiscal 2024 second quarter ended March 2, 2024. | 2 Financial Highlights | | FY24 Q2 | | FY ...