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In its recent earnings call, a confident MSC Industrial Direct (NYSE: MSM) said that "share gain opportunities" are more compelling now than during the recession. (Read about MSC's 2010 2Q sales.) The distributor called the next couple of years "the greatest land grab opportunity in the history of our industry." President and CEO David Sandler said: "Make no mistake about it, we will be one of the most opportunistic during this once in a life-time period."
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Sandler said the company will take advantage of a "proven track record" of turning human capital, investments, balance sheet and ability to execute the business model into significant long-term earnings growth: "We believe there has never been a more exciting time in MSC’s history."
Sandler also said: "While competitors cut back on inventory, inside and outside sales staff and facilities, we kept our work force intact, increased our service levels through extended order cut-off times, expanded our next-day reach to the entire company, enhanced our fill rates and often helped in the form of increased credit lines and longer payment terms where possible. We also aggressively signed new business."
As a result, MSC believes it is competitively well-positioned: "We expect that as the economy recovers, the smaller competitors who have already been severely impacted will struggle even more to satisfy customer needs. We believe that weak balance sheets will crumble and service levels will deteriorate further as customer demands increase."
Read the full transcript from this earnings call at Seeking Alpha.
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