logo
Plus   Neg
Share
Email

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

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Macy's is offering a sneak peek of its Black Friday deals for this year, so that shoppers can get a head start on finding some of the best deals. The department store has unveiled its Black Friday deals that will be available next month across categories, including fashion, fine jewelry, tech, beauty, toys and home specials. Some of the deals will be available for as low as $5. Italy's antitrust watchdog has opened an investigation against Google for an alleged abuse of dominant position in the Italian market for display advertising. This refers to the space publishers and website owners make available for the display of advertising content. Shares of Deutsche Bank AG were gaining around 3 percent in German trading after the banking major reported Wednesday a profit in its third quarter, compared to prior year's loss mainly driven by strong Investment Bank revenues. Looking ahead, the bank said it remains on track to meet all financial and strategic targets related to its transformation plan.
Follow RTT