MSC Industrial backs FY24 ADS view flat to up 5%

Backs FY24 adjusted operating margin view 12%-12.8%. Backs FY24 tax rate view 25%-25.5%. Gershwind concluded, “Looking ahead, despite a slower start to the fiscal year, I am encouraged as we continue building our market position, introducing strategic investments centered on reaccelerating our core customer base and implementing operational initiatives to drive productivity and expand margins. Together, this positions us to achieve our annual revenue growth and adjusted operating margin ranges in fiscal 2024.”