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MSC Industrial Direct
MSC Industrial Direct (MSM) investor relations material
MSC Industrial Direct Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 Jan, 2026
Executive summary
Net sales grew 4% year-over-year to $965.7 million, driven by price increases and favorable foreign exchange, with strength in core and national accounts offsetting a decline in public sector sales due to a government shutdown.
Gross margin held steady at 40.7%, with operating margin improving to 7.9% (GAAP) and 8.4% (adjusted), reflecting effective cost management and price/cost dynamics.
Diluted EPS increased to $0.93 from $0.83, with adjusted EPS at $0.99, up 15% year-over-year.
$62 million was returned to shareholders through dividends and share repurchases during the quarter.
Management highlighted execution on growth initiatives, cost optimization, and a focus on profitable growth.
Financial highlights
Net sales reached $965.7 million, up from $928.5 million in the prior year quarter, with gross profit of $392.7 million and gross margin steady at 40.7%.
Adjusted operating profit was $81.2 million (8.4% of sales), up from $74.6 million (8.0%) in the prior year.
Net income attributable to shareholders rose 11.1% to $51.8 million; adjusted net income increased 14.8% to $55.5 million.
Free cash flow was $7.4 million, down from $81.7 million year-over-year, due to higher working capital investments.
Operating expenses rose 2.6% to $311.6 million, but decreased as a percentage of sales.
Outlook and guidance
Q2 average daily sales expected to grow 3.5%-5.5% year-over-year, with adjusted operating margin guidance of 7.3%-7.9% and gross margin of 40.8% ± 20 bps.
Full-year expectations: capex $100-$110 million, tax rate 24.5%-25.5%, depreciation/amortization $95M–$100M, interest/other expense ~$35M, and free cash flow conversion target of ~90%.
Management expects continued profitable growth for fiscal 2026 despite a soft start to Q2 due to holiday timing.
Ongoing restructuring costs anticipated as sales optimization continues.
Sufficient liquidity and financial resources are expected to fund operations and capital needs for at least the next 12 months.
How did growth initiatives offset Q1 headwinds?
What drives Q2 adjusted operating margin outlook?
How does Q1 cash flow align with FCF conversion target?
How will the supplier forum accelerate volume growth?
Quantify service model optimization cost savings?
What is the IEEPA tariff ruling impact?
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Next MSC Industrial Direct earnings date
AGM 202621 Jan, 2026
MSC Industrial Direct
Next MSC Industrial Direct earnings date
AGM 202621 Jan, 2026
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Frequently asked questions
MSC Industrial Direct Co., Inc. engages in the distribution of metalworking and maintenance, repair, and operations products and services through catalogs, informational literature, Internet and electronic commerce, and customer contact centers. It offers cutting tools; measuring instruments; tooling components; metalworking products; fasteners, including commercial, aerospace, electronics, military specifications standard and metric fasteners; flat stock; raw material products; abrasives; machinery hand and power tools; safety and security supplies; plumbing supplies; materials handling products comprising casters and wheels; storage systems, such as cabinets and benches racks, shelving systems, modular drawers, mobile aisle shelving, pick modules and pallet flow systems.
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