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Home » Distribution Industry News » MSC Industrial Supply Sales Up 11.5% in Second Quarter 2023

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  • Published on: April 4, 2023

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  • Picture of Distribution Strategy Group Distribution Strategy Group

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Distribution Industry News

MSC Industrial Supply Sales Up 11.5% in Second Quarter 2023

MSC Industrial Supply Co. (NYSE: MSM), distributor of metalworking and maintenance, repair and operations products and services, announced its second quarter and fiscal first half financial results for 2023.   

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In the second quarter, sales were $961.6 million, an increase of 11.5% compared with the prior-year period. MSC saw average daily sales growth of approximately 11 percentage points above the industrial production index.  

Profit for the quarter was $79.1 million, up 12.8% from the prior-year period.  

2023 fiscal first-half sales were $1.92 billion, a 12.2% increase from 2022. Profit for the fiscal first half was $160.5 million, an 18% increase from the prior-year period.  

MSC reported an update on its Mission Critical growth initiatives.  

Solidify Metalworking 

  • Over 150 metalworking and specialty sales experts driving customer productivity 
  • Technical expertise fueled new customer wins in high-growth end-markets such as aerospace and medical. 

Leverage Portfolio Strength 

  • Class C consumable product category sales grew in the low teens year over year in the second quarter. 

Expand Solutions (Vending, In-Plant and Vendor Managed Inventory) 

  • Vending signings have been strong; vending machine sales grew mid-teens and represent 15% of total company sales. 
  • In-plant signings are strong; in-plant sales grew nearly 20% and represent over 12% of total company net sales. 
  • Total solutions net sales represent over 56% of total company sales. 

Grow eCommerce 

  • eCommerce sales grew in the low teens year over year in the second quarter and reached 62% of total company sales. 

Diversify Customers and End-Markets 

  • Public Sector, driven by federal and state government contract wins, grew 20% yearly in the second quarter. 
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