- MSC Industrial Direct press release ( NYSE: MSM ): Q1 Non-GAAP EPS of $1.48 beats by $0.02 .
- Revenue of $957.7M (+12.9% Y/Y) beats by $10.06M .
- Average daily sales ("ADS") growth of roughly 9 percentage points above the Industrial Production ( IP ) Index
- Operating income of $116.0 million, or $118.3 million adjusted to exclude acquisition-related costs and restructuring and other costs
- Operating margin of 12.1%, or 12.3% excluding the adjustments described above
- Erik Gershwind, President and Chief Executive Officer, said, "We began the fiscal year on strong footing as average daily sales grew 12.9%, or about 9 percentage points above the Industrial Production Index. Top-line performance was driven by the ongoing execution of our five growth drivers – solidify metalworking, leverage our portfolio strength, expand solutions, grow e-commerce, and diversify customers and end-markets. We continue to be a partner of choice for our customers, who have recognized our ability to improve their productivity and be a resource against global supply chain and labor constraints. This value proposition supports our ability to drive price realization, which contributed to our fiscal first quarter results."
For further details see:
MSC Industrial Direct Non-GAAP EPS of $1.48 beats by $0.02, revenue of $957.7M beats by $10.06M