MSC Industrial To Continue Not Giving Quarterly Financial Guidance Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Wednesday, MSC Industrial Supply Co. (MSM) said it will continue not giving quarterly financial guidance, due to the ongoing unprecedented uncertainty and lack of visibility going forward amid the ongoing coronavirus (COVID-19) pandemic.

In early April, the company had suspended providing its quarterly financial guidance until the period of heightened uncertainty passes.

However, the company said it will continue providing monthly updates following its month-end close on average daily sales developments, as well as comments on the business trends that has been seen over the course of the month. Looking ahead, the company said it remains focused on its three continuing priorities, all centered on expanding operating margins while it continues the repositioning of the company from a spot buy supplier to a mission critical partner on the plant floor. The company will also resume its sales force refinement efforts and restart its business development hiring.