Free Research Report as MSC Industrial’s Revenue Jumped 12%; EPS Climbed 9.4%
LONDON, UK / ACCESSWIRE / January 18, 2018 / Active-Investors.com has just released a free earnings report on MSC Industrial Direct Co., Inc. (NYSE: MSM). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MSM. The Company posted its financial results on January 10, 2018, for the first quarter fiscal 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, MSC Industrial Direct most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For three months ended December 02, 2017, MSC Industrial's net revenue increased 12% to $768.56 million from $686.27 million in Q1 FY17. The Company's net revenue was below analysts' expectations of $771.4 million.
For the reported quarter, the Company's gross profit increased 8.5% to $335.07 million from $308.74 million in Q1 FY17. For the reported quarter, the Company's gross margin decreased 140 basis points to 43.6% of revenue from 45% of revenue in Q1 FY17. For the reported quarter, the Company's adjusted gross margin was 44.5% of revenue.
For the reported quarter, the Company's operating income increased 9.6% to $99.28 million from $90.60 million in Q1 FY17. For the reported quarter, the Company's operating margin decreased 30 basis points to 12.9% of revenue from 13.2% of revenue in Q1 FY17. For the reported quarter, the Company's adjusted operating margin was 13.4% of revenue.
During Q1 FY18, MSC Industrial's earnings before tax (EBT) increased 9.4% to $95.80 million from $87.55 million in the same period last year. For the reported quarter, the Company's EBT margin decreased 30 basis points to 12.5% of revenue from 12.8% of revenue in Q1 FY17.
For the reported quarter, MSC Industrial's net income increased 9.8% to $59.59 million on a y-o-y basis from $54.29 million in Q1 FY17. During Q1 FY18, the Company's diluted EPS increased 9.4% to $1.05 on a y-o-y basis from $0.96 in the same period last year. For the reported quarter, MSC Industrial's adjusted net income was $59.39 million. During Q1 FY18, the Company's adjusted diluted EPS was $1.05. Adjusted diluted EPS was below analysts' expectations of $1.06.
Balance Sheet
As on December 02, 2017, MSC Industrial's cash and cash equivalents increased 25.9% to $20.25 million from $16.08 million on September 02, 2017. For the reported quarter, the Company's long-term debt was $201.00 million, almost on par with $200.99 million in Q4 FY17.
During Q1 FY18, the Company's inventories increased 1% to $469.43 million from $464.96 million in Q4 FY17. For the reported quarter, the Company's total assets increased 0.4% to $2.11 billion from $2.10 billion in Q4 FY17.
For the reported quarter, the Company's net accounts receivable increased 1.6% to $479.39 million from $471.80 million in Q4 FY17. For the reported quarter, the Company's accounts payable increased 3% to $124.92 million from $121.27 million in Q4 FY17.
During Q1 FY18, the Company's cash provided by operating activities increased 8% to $81.98 million from $75.90 million in the same period last year.
On January 03, 2018, the Company's Board of Directors declared a cash dividend of $0.58 per share, payable on January 30, 2018, to shareholders of record at the close of business on January 16, 2018.
Outlook
For Q2 FY18, the Company expects revenue to be in the range of $761 million to$775 million and diluted EPS to be in the band of $1.00 to $1.04.
Stock Performance Snapshot
January 17, 2018 - At Wednesday's closing bell, MSC Industrial Direct's stock declined 2.92%, ending the trading session at $90.72.
Volume traded for the day: 1.39 million shares, which was above the 3-month average volume of 575.62 thousand shares.
Stock performance in the last month - up 1.94%; previous three-month period - up 20.05%; and past six-month period - up 23.11%
After yesterday's close, MSC Industrial Direct's market cap was at $5.18 billion.
Price to Earnings (P/E) ratio was at 22.43.
The stock has a dividend yield of 2.12%.
The stock is part of the Services sector, categorized under the Industrial Equipment Wholesale industry. This sector was up 0.6% at the end of the session.
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