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10-Q Filing

MSC INDUSTRIAL DIRECT CO INC CIK: 1003078 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001003078-24-000008
Period End Date 20231130
Filing Date 20240109
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance msm-20231202_htm.xml
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance for credit loss, current AllowanceForDoubtfulAccountsReceivableCurrent $22.75M USD Point-in-time
Accounts receivable, allowance for credit loss, current AllowanceForDoubtfulAccountsReceivableCurrent $20.27M USD Point-in-time
Preferred stock, par value (in usd per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, par value (in usd per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $25.80M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $50.05M USD Point-in-time
Accounts receivable, net of allowance for credit losses of $20,271 and $22,747, respectively AccountsReceivableNetCurrent $435.42M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts receivable, net of allowance for credit losses of $20,271 and $22,747, respectively AccountsReceivableNetCurrent $414.28M USD Point-in-time
Inventories InventoryNet $726.52M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Inventories InventoryNet $709.36M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $105.52M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $121.52M USD Point-in-time
Total current assets AssetsCurrent $1.32B USD Point-in-time
Total current assets AssetsCurrent $1.27B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $322.09M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $319.66M USD Point-in-time
Goodwill Goodwill $718.32M USD Point-in-time
Goodwill Goodwill $718.17M USD Point-in-time
Identifiable intangibles, net IntangibleAssetsNetExcludingGoodwill $106.89M USD Point-in-time
Identifiable intangibles, net IntangibleAssetsNetExcludingGoodwill $110.64M USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 1.23M shares Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $61.08M USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 1.30M shares Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $65.91M USD Point-in-time
Other assets OtherAssetsNoncurrent $12.24M USD Point-in-time
Other assets OtherAssetsNoncurrent $14.38M USD Point-in-time
Total assets Assets $2.54B USD Point-in-time
Total assets Assets $2.49B USD Point-in-time
Current portion of debt including obligations under finance leases LongTermDebtAndCapitalLeaseObligationsCurrent $244.05M USD Point-in-time
Current portion of debt including obligations under finance leases LongTermDebtAndCapitalLeaseObligationsCurrent $229.94M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $21.17M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $20.69M USD Point-in-time
Accounts payable AccountsPayableCurrent $226.30M USD Point-in-time
Accounts payable AccountsPayableCurrent $188.98M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $172.03M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $174.14M USD Point-in-time
Total current liabilities LiabilitiesCurrent $627.86M USD Point-in-time
Total current liabilities LiabilitiesCurrent $649.44M USD Point-in-time
Long-term debt including obligations under finance leases LongTermDebtAndCapitalLeaseObligations $294.43M USD Point-in-time
Long-term debt including obligations under finance leases LongTermDebtAndCapitalLeaseObligations $224.39M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $41.41M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $45.92M USD Point-in-time
Deferred income taxes and tax uncertainties DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent $131.80M USD Point-in-time
Deferred income taxes and tax uncertainties DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent $131.80M USD Point-in-time
Total liabilities Liabilities $1.10B USD Point-in-time
Total liabilities Liabilities $1.05B USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Preferred Stock; $0.001 par value; 5,000,000 shares authorized; none issued and outstanding PreferredStockValue - USD Point-in-time
Preferred Stock; $0.001 par value; 5,000,000 shares authorized; none issued and outstanding PreferredStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $849.50M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.05B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $464.96M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $755.01M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-17.28M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-17.73M USD Point-in-time
Class A treasury stock, at cost, 1,304,313 and 1,230,960 shares, respectively TreasuryStockValue $107.68M USD Point-in-time
Class A treasury stock, at cost, 1,304,313 and 1,230,960 shares, respectively TreasuryStockValue $115.40M USD Point-in-time
Total MSC Industrial shareholders equity StockholdersEquity $1.48B USD Point-in-time
Total MSC Industrial shareholders equity StockholdersEquity $1.39B USD Point-in-time
Noncontrolling interest MinorityInterest $13.42M USD Point-in-time
Noncontrolling interest MinorityInterest $13.15M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.49B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.54B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.49B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $953.97M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $957.75M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $559.95M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $560.85M USD 1 Quarter
Gross profit GrossProfit $397.80M USD 1 Quarter
Gross profit GrossProfit $393.12M USD 1 Quarter
Operating expenses OperatingExpenses $279.69M USD 1 Quarter
Operating expenses OperatingExpenses $290.63M USD 1 Quarter
Restructuring and other costs RestructuringCosts $916.00K USD 1 Quarter
Restructuring and other costs RestructuringCosts $2.09M USD 1 Quarter
Income from operations OperatingIncomeLoss $116.01M USD 1 Quarter
Income from operations OperatingIncomeLoss $101.57M USD 1 Quarter
Interest expense InterestExpense $5.32M USD 1 Quarter
Interest expense InterestExpense $6.92M USD 1 Quarter
Interest income InvestmentIncomeInterest $125.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $100.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-1.34M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-5.05M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-8.16M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-10.25M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $91.32M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $107.85M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $26.64M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $22.19M USD 1 Quarter
Net income ProfitLoss $81.21M USD 1 Quarter
Net income ProfitLoss $69.13M USD 1 Quarter
Less: Net loss attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-222.00K USD 1 Quarter
Less: Net loss attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-102.00K USD 1 Quarter
Net income attributable to MSC Industrial NetIncomeLoss $81.31M USD 1 Quarter
Net income attributable to MSC Industrial NetIncomeLoss $69.35M USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $1.45 USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $1.23 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $1.45 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $1.22 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 56.43M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 55.89M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 56.08M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 56.72M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $81.21M USD 1 Quarter
Net income ProfitLoss $69.13M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $18.57M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $19.78M USD 1 Quarter
Non-cash operating lease cost OperatingLeaseRightOfUseAssetAmortizationExpense $5.56M USD 1 Quarter
Non-cash operating lease cost OperatingLeaseRightOfUseAssetAmortizationExpense $4.87M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $5.20M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $4.99M USD 1 Quarter
Loss on disposal of property, plant and equipment GainLossOnDispositionOfAssets $-98.00K USD 1 Quarter
Loss on disposal of property, plant and equipment GainLossOnDispositionOfAssets $-229.00K USD 1 Quarter
Non-cash changes in fair value of estimated contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 - USD 1 Quarter
Non-cash changes in fair value of estimated contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $220.00K USD 1 Quarter
Provision for credit losses ProvisionForDoubtfulAccounts $90.00K USD 1 Quarter
Provision for credit losses ProvisionForDoubtfulAccounts $2.67M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-21.17M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-56.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $9.52M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-17.22M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $16.04M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $22.76M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-5.72M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-4.84M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $508.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $2.13M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-33.41M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $1.06M USD 1 Quarter
Total adjustments AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $-5.19M USD 1 Quarter
Total adjustments AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $12.04M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $81.17M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $76.02M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $25.50M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $18.43M USD 1 Quarter
Cash used in business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $87.00K USD 1 Quarter
Cash used in business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-18.43M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-25.59M USD 1 Quarter
Repurchases of Class A Common Stock PaymentsForRepurchaseOfCommonStock $132.04M USD 1 Quarter
Repurchases of Class A Common Stock PaymentsForRepurchaseOfCommonStock $18.54M USD 1 Quarter
Payments of regular cash dividends PaymentsOfOrdinaryDividends $47.19M USD 1 Quarter
Payments of regular cash dividends PaymentsOfOrdinaryDividends $44.21M USD 1 Quarter
Proceeds from sale of Class A Common Stock in connection with Associate Stock Purchase Plan ProceedsFromStockPlans $1.06M USD 1 Quarter
Proceeds from sale of Class A Common Stock in connection with Associate Stock Purchase Plan ProceedsFromStockPlans $1.14M USD 1 Quarter
Proceeds from exercise of Class A Common Stock options ProceedsFromStockOptionsExercised $8.34M USD 1 Quarter
Proceeds from exercise of Class A Common Stock options ProceedsFromStockOptionsExercised $6.85M USD 1 Quarter
Borrowings under credit facilities ProceedsFromLinesOfCredit $148.00M USD 1 Quarter
Borrowings under credit facilities ProceedsFromLinesOfCredit $84.00M USD 1 Quarter
Payments under credit facilities RepaymentsOfLinesOfCredit $99.00M USD 1 Quarter
Payments under credit facilities RepaymentsOfLinesOfCredit $65.00M USD 1 Quarter
Borrowings under financing obligations ProceedsFromOtherDebt $1.62M USD 1 Quarter
Borrowings under financing obligations ProceedsFromOtherDebt $1.06M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-574.00K USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-657.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-87.19M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-67.95M USD 1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $209.00K USD 1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $311.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-17.21M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-24.25M USD 1 Quarter
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $50.05M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $43.54M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.33M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $25.80M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $50.05M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $43.54M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.33M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $25.80M USD Point-in-time
Cash paid for income taxes IncomeTaxesPaid $2.77M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $5.45M USD 1 Quarter
Cash paid for interest InterestPaidNet $4.88M USD 1 Quarter
Cash paid for interest InterestPaidNet $5.44M USD 1 Quarter
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.49B USD Point-in-time
Foreign Currency Translation Adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $404.00K USD 1 Quarter
Foreign Currency Translation Adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.27M USD 1 Quarter
Net Loss NetIncomeLoss $81.31M USD 1 Quarter
Net Loss NetIncomeLoss $69.35M USD 1 Quarter
Foreign Currency Translation Adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-44.00K USD 1 Quarter
Foreign Currency Translation Adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $335.00K USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.49B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Other comprehensive income, taxes OtherComprehensiveIncomeLossTax - USD 1 Quarter
Other comprehensive income, taxes OtherComprehensiveIncomeLossTax - USD 1 Quarter
Net income, as reported ProfitLoss $81.21M USD 1 Quarter
Net income, as reported ProfitLoss $69.13M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $404.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.27M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $69.53M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $82.48M USD 1 Quarter
Net loss NetIncomeLossAttributableToNoncontrollingInterest $-222.00K USD 1 Quarter
Net loss NetIncomeLossAttributableToNoncontrollingInterest $-102.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-44.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $335.00K USD 1 Quarter
Comprehensive income attributable to MSC Industrial ComprehensiveIncomeNetOfTax $82.25M USD 1 Quarter
Comprehensive income attributable to MSC Industrial ComprehensiveIncomeNetOfTax $69.80M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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