MSC Industrial Direct Co Inc. (MSM) released its third quarter results on Thursday, July 8, 2021. The company reported net earnings of $1.68 per share for the third quarter ending May 31, 2021. Earnings for this past quarter were up 20 percent compared to the same period a year ago.
MSC Industrial Direct Co., Inc. was founded in 1941 and is headquartered in Melville, New York. MSC Industrial Direct Co., Inc., together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.
MSC Industrial Direct Co's revenue decreased 4 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 44.27% for the third quarter compared to the same period in the previous year, and operating margins decreased to 12.6% over the same period. Net earnings for past trailing twelve months were $203.48 million, down 23% from the prior year.
Moving on to the balance sheet, MSC Industrial Direct Co's cash levels dropped 92% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 35.28% this past year. The current ratio for MSC Industrial Direct Co now stands at 1.7. The company increased shares outstanding by 0.65%.
Shares of MSM are currently trading around $89.90. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 24.78 and price to book ratio of 4.43.