MSC INDUSTRIAL DIRECT Reports 10.0% Revenue Growth for Q3 FY2023

☀️Earnings Overview

MSC INDUSTRIAL DIRECT ($NYSE:MSM) reported total revenue of USD 1054.5 million for the third quarter of fiscal year 2023, which ended on May 31st 2023, representing a 10.0% increase from the same time period in the prior year. Net income for the quarter unfortunately decreased by 4.5% to USD 95.2 million compared to the same period last year. This was announced on June 29th 2023.

Analysis

GoodWhale is a great tool for analyzing the financials of MSC INDUSTRIAL DIRECT. According to GoodWhale’s Risk Rating, this company is a medium risk investment when it comes to both financial and business aspects. GoodWhale has also detected two risk warnings in the balance sheet, which are non-financial. If you want to know more about these warnings, you can join GoodWhale and check it out. With GoodWhale, you can make an informed decision about your investments and be sure that you are making the best choice. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for MSM. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for MSM. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for MSM. More…

Key Ratios Snapshot

Some of the financial key ratios for MSM are shown below. More…

Peers

The company has a wide range of products and services that it offers to its clients. The company has a strong presence in the market and is one of the leading companies in this sector. The company has a good reputation in the market and is known for its quality products and services. The company has a strong competition from other companies such as Hardwoods Distribution Inc, Watsco Inc, WESCO International Inc.

– Hardwoods Distribution Inc ($TSX:HDI)

As of 2022, Hardwoods Distribution Inc has a market cap of 534.86M and a ROE of 29.08%. The company is a wholesale distributor of hardwood lumber and related products in North America, with a network of over 60 locations in the United States and Canada. Products include hardwood lumber, softwood lumber, plywood, veneers, decking, flooring, and other millwork products. The company has a long history dating back to 1925, and is a publicly traded company on the Toronto Stock Exchange.

– Watsco Inc ($NYSE:WSO)

Watsco Inc is a provider of air conditioning, heating and refrigeration solutions. It has a market cap of 9.62B as of 2022 and a return on equity of 27.67%. The company serves the residential, commercial and industrial markets in the United States, Canada, Mexico and the Caribbean.

– WESCO International Inc ($NYSE:WCC)

Wesco International Inc is a holding company that, through its subsidiaries, engages in the distribution of electrical, industrial, and communications products and services in the United States, Canada, and Mexico. The company operates through three segments: Electrical, Industrial, and Communications. The Electrical segment offers products and services to customers in the construction, industrial, commercial, and utility end-markets. The Industrial segment provides products and services to customers in the mining, oil and gas, transportation, and infrastructure end-markets. The Communications segment offers products and services to customers in the communications, data center, and enterprise end-markets.

As of 2022, Wesco International Inc had a market cap of 6.45B and a Return on Equity of 16.97%.

Summary

MSC Industrial Direct’s third quarter of the fiscal year 2023 saw the company report total revenues of USD 1054.5 million, a 10.0% increase from the same quarter in the prior year.

However, net income decreased by 4.5% to USD 95.2 million. These results were released on June 29th 2023. For investors, this news is mixed as total revenue has grown while net income has decreased. It is important to look deeper into the financials to gain insight into the company as a whole and whether or not it is a good investment opportunity.