MSC Fiscal 2Q Sales Increase 11.4% - Modern Distribution Management

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MSC Fiscal 2Q Sales Increase 11.4%

In its latest earnings report, the company reported fiscal 2022 second-quarter net sales of $862.5 million.
MSC Industrial fiscal 2022 2Q sales

MSC Industrial Supply Co. (NYSE: MSM) reported fiscal 2022 second-quarter net sales of $862.5 million, an 11.4% increase over the same period a year ago.

Income from operations in fiscal 2022 2Q was $97.2 million, a 246.8% jump over the same quarter last year.

Net income attributable to MSC was $69.9 million, a 286.7% increase over the second quarter in fiscal 2021.

“I am excited by the growing momentum inside the company to accelerate market share capture and improve profitability,” CEO and President Erik Gershwind said. “We achieved double-digit top-line growth despite Covid-related disruptions during the first two weeks of January. Our growth initiatives are in high gear and the productivity improvements we deliver to our customers are resonating. Gross margin countermeasures, including a late January price increase, are working well and give us confidence that we can keep gross margins flat or better for full year fiscal 2022 versus fiscal 2021.”

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