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MSC Industrial Direct Company Inc. (MSM+1.20%) has submitted its 10-Q filing for the quarterly period ended March 1, 2025.
The filing reports a decrease in net sales to $891.7 million for the thirteen-week period ended March 1, 2025, compared to $935.3 million in the same period the previous year. This decline is attributed to lower sales volume and an unfavorable foreign exchange impact.
Gross profit for the quarter was $365.2 million, down from $388.6 million in the previous year, with a gross profit margin of 41.0%, compared to 41.5% in the same period last year.
Operating expenses increased to $301.6 million from $291.2 million, primarily due to higher payroll and payroll-related costs.
Income from operations was $62.2 million, a decrease from $91.2 million in the prior year, with the decline attributed to lower gross profit and increased operating expenses.
The company reported a net income of $39.1 million, down from $61.6 million in the previous year. The effective tax rate for the quarter was 24.3%, compared to 23.0% in the same period last year.
Cash provided by operating activities was $156.3 million, while cash used in investing and financing activities was $50.7 million and $93.1 million, respectively.
MSC Industrial's working capital was $571.7 million as of March 1, 2025, with a current ratio of 1.9.
The filing also details the company's ongoing efforts to optimize its supply chain and distribution network as part of its strategic realignment efforts.
MSC Industrial does not anticipate any material impact from ongoing legal proceedings, including a new class action lawsuit related to a recent reclassification of its common stock.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MSC Industrial Direct Company Inc. quarterly 10-Q report dated April 3, 2025. To report an error, please email earnings@qz.com.