MSC Industrial Supply Co. reported improved sales, profit and earnings totals in its fiscal second quarter.
The metalworking and MRO distributor reported net sales increased 2.9% to $917.8 million in the latest quarter, while operating income rose 4.1% to $64.8 million, and operating margin gained 10 basis points to 7.1%. Net income attributable to MSC rose 8.1% to $42.5 million.
Company officials conceded in the earnings release that its
Quarterly sales fell short of internal expectations.
“While we have not yet seen volumes return to a positive trend, our core customer daily sales outperformed total company for the third consecutive quarter, and we expect our volume performance to improve throughout the remainder of the fiscal year,” stated CEO Martina McIsaac.
The company’s outlook anticipates average daily sales growth of 5% - 7% in the third quarter, along with a quarterly adjusted operating margin of 9.7% - 10.3%.
Melville, NY-based MSC Industrial is a North American distributor of metalworking and MRO products and services.





