MSC Industrial Direct第三季盈利增41% 每股賺1.44美元

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________

FORM 10-Q
______________________________

(Mark One)
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended May 30, 2026

OR
oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____
Commission File Number: 1-14130
__________________
MSC INDUSTRIAL DIRECT CO., INC.
(Exact name of registrant as specified in its charter)
__________________

New York
(State or other jurisdiction of
incorporation or organization)
11-3289165
(I.R.S. Employer Identification No.)

515 Broadhollow Road, Suite 1000, Melville, New York
(Address of principal executive offices)
11747
(Zip Code)

(516) 812-2000
(Registrant’s telephone number, including area code)
__________________
Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, par value $0.001 per share MSM New York Stock Exchange 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer x 
Accelerated
filer o
Non-accelerated filer o
Smaller reporting
company o
Emerging growth
company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x
As of June 17, 2026, 55,846,298 shares of Class A Common Stock of the registrant were outstanding.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q (this “Report”) contains forward‑looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Discussions containing such forward‑looking statements may be found in Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Item 3, “Quantitative and Qualitative Disclosures About Market Risk” of Part I and Item 1, “Legal Proceedings” and Item 1A, “Risk Factors” of Part II of this Report, as well as within this Report generally. The words “will,” “may,” “believes,” “anticipates,” “thinks,” “expects,” “estimates,” “plans,” “intends” and similar expressions are intended to identify forward‑looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management’s assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward‑looking statements. MSC Industrial Direct Co., Inc. (together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest, “MSC,” “MSC Industrial,” the “Company,” “we,” “us” or “our”) expressly disclaims any obligation to publicly disclose any revisions to these forward‑looking statements to reflect events or circumstances occurring subsequent to filing this Report with the United States Securities and Exchange Commission (the “SEC”), except to the extent required by applicable law. These forward‑looking statements are subject to risks and uncertainties, including, without limitation, those discussed in Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Item 3, “Quantitative and Qualitative Disclosures About Market Risk” of Part I and Item 1, “Legal Proceedings” and Item 1A, “Risk Factors” of Part II of this Report, as well as in Item 1A, “Risk Factors” of Part I and Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Item 7A, “Quantitative and Qualitative Disclosures About Market Risk” of Part II of our Annual Report on Form 10-K for the fiscal year ended August 30, 2025. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed or implied by these forward‑looking statements. Given these risks and uncertainties, the reader should not place undue reliance on these forward‑looking statements. These risks and uncertainties include, but are not limited to, the following:

•general economic conditions in the markets in which we operate; 
•changing customer and product mixes;
•volatility in commodity, energy and labor prices and the impact of prolonged periods of low, high or rapid inflation;
•competition, including the adoption by competitors of aggressive pricing strategies or sales methods;
•industry consolidation and other changes in the industrial distribution sector;
•the applicability of laws and regulations relating to our status as a supplier to the U.S. government and public sector and the impact of any lapse in funding for the federal government;
•the credit risk of our customers;
•our ability to accurately forecast customer demand;
•interruptions in our ability to make deliveries to customers;
•supply chain disruptions;
•our ability to attract and retain sales and customer service personnel;
•the risk of loss of key suppliers or contractors or key brands;
•changes to trade policies or trade relationships, including tariff policies;
•risks associated with opening or expanding our customer fulfillment centers (“CFCs”);
•our ability to estimate the cost of healthcare claims incurred under our self-insurance plan;
•interruption of operations at our headquarters or CFCs;
•products liability due to the nature of the products that we sell;
•impairments of goodwill and other indefinite-lived intangible assets;
•the impact of climate change;
•operating and financial restrictions imposed by the terms of our material debt instruments;
•our ability to access additional liquidity;
•the significant influence that our principal shareholders will continue to have over our decisions;
•our ability to execute on our E-commerce strategies and to maintain our digital platforms;
•costs associated with maintaining our information technology (“IT”) systems and complying with data privacy laws;
•disruptions or breaches of our IT systems or violations of data privacy laws, including such disruptions or breaches in connection with our E-commerce channels;
•risks related to online payment methods and other online transactions;
•the retention of key management personnel;
•litigation risk due to the nature of our business;

•failure to comply with environmental, health, and safety laws and regulations; and
•our ability to comply with, and the costs associated with, social and environmental responsibility policies.

MSC INDUSTRIAL DIRECT CO., INC.
QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTERLY PERIOD ENDED MAY 30, 2026
TABLE OF CONTENTS

Page
PART I. FINANCIAL INFORMATION

Item 1.
Financial Statements (Unaudited)

Condensed Consolidated Balance Sheets as of May 30, 2026 and August 30, 2025
1

Condensed Consolidated Statements of Income for the Thirteen and Thirty-Nine Weeks Ended May 30, 2026 and May 31, 2025
2

Condensed Consolidated Statements of Comprehensive Income for the Thirteen and Thirty-Nine Weeks Ended May 30, 2026 and May 31, 2025
3

Condensed Consolidated Statements of Shareholders’ Equity for the Thirteen and Thirty-Nine Weeks Ended May 30, 2026 and May 31, 2025
4

Condensed Consolidated Statements of Cash Flows for the Thirty-Nine Weeks Ended May 30, 2026 and May 31, 2025 
5

Notes to Condensed Consolidated Financial Statements
6

Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
18

Item 3.
Quantitative and Qualitative Disclosures About Market Risk
28

Item 4.
Controls and Procedures
29

PART II. OTHER INFORMATION

Item 1.
Legal Proceedings
30

Item 1A.
Risk Factors
30

Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
30

Item 5.
Other Information
31

Item 6.
Exhibits
32

SIGNATURES
33

i

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

 MSC INDUSTRIAL DIRECT CO., INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)

May 30,
2026August 30,
2025
(Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $74,094 $56,228 
Accounts receivable, net of allowance for credit losses of $23,884 and $22,365, respectively 
413,258 423,306 
Inventories 684,118 644,090 
Prepaid expenses and other current assets 105,280 102,930 
Total current assets 1,276,750 1,226,554 
Property, plant and equipment, net 343,887 346,706 
Goodwill 724,075 723,702 
Identifiable intangibles, net 73,819 85,455 
Operating lease assets48,148 52,464 
Other assets 28,982 27,183 
Total assets $2,495,661 $2,462,064 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Current portion of debt including obligations under finance leases$417,219 $316,868 
Current portion of operating lease liabilities22,500 22,236 
Accounts payable 229,418 225,150 
Accrued expenses and other current liabilities 155,596 165,092 
Total current liabilities 824,733 729,346 
Long-term debt including obligations under finance leases89,555 168,831 
Noncurrent operating lease liabilities26,150 30,872 
Deferred income taxes and tax uncertainties 135,802 136,513 

Total liabilities 1,076,240 1,065,562 
Commitments and Contingencies
Shareholders’ Equity:
MSC Industrial Shareholders’ Equity:
Preferred Stock; $0.001 par value; 5,000,000 shares authorized; none issued and outstanding 
— — 
Class A Common Stock; $0.001 par value; 100,000,000 shares authorized; 57,166,810 and 57,086,377 shares issued, respectively
57 57 
Additional paid-in capital 1,107,522 1,093,630 
Retained earnings 451,403 432,622 
Accumulated other comprehensive loss (19,528)(20,736)
Class A treasury stock, at cost, 1,320,624 and 1,296,625 shares, respectively 
(120,033)(117,363)
Total MSC Industrial shareholders’ equity 1,419,421 1,388,210 
Noncontrolling interest— 8,292 
Total shareholders’ equity1,419,421 1,396,502 
Total liabilities and shareholders’ equity $2,495,661 $2,462,064 
    
See accompanying Notes to Condensed Consolidated Financial Statements.
1

MSC INDUSTRIAL DIRECT CO., INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(Unaudited)

Thirteen Weeks EndedThirty-Nine Weeks Ended
May 30,
2026May 31,
2025May 30,
2026May 31,
2025
Net sales $1,047,083 $971,145 $2,930,541 $2,791,346 
Cost of goods sold 616,678 573,406 1,729,871 1,650,190 
Gross profit 430,405 397,739 1,200,670 1,141,156 
Operating expenses 323,660 312,324 945,570 917,465 
Restructuring and other costs— 2,680 7,324 6,430 
Income from operations 106,745 82,735 247,776 217,261 
Other income (expense):
Interest expense (5,383)(6,031)(16,386)(18,332)
Interest income 156 368 561 942 
Other income (expense), net2,726 (1,958)(4,175)(12,442)
Total other expense(2,501)(7,621)(20,000)(29,832)
Income before provision for income taxes 104,244 75,114 227,776 187,429 
Provision for income taxes 25,539 18,253 55,805 45,727 
Net income 78,705 56,861 171,971 141,702 
Less: Net (loss) income attributable to noncontrolling interest(1,657)16 (2,679)(1,080)
Net income attributable to MSC Industrial$80,362 $56,845 $174,650 $142,782 
Per share data attributable to MSC Industrial:
Net income per common share:
Basic $1.44 $1.02 $3.13 $2.56 
Diluted $1.44 $1.02 $3.12 $2.55 
Weighted-average shares used in computing net income per common share:
Basic 55,83855,69455,81755,795
Diluted 55,99055,76555,95555,895

See accompanying Notes to Condensed Consolidated Financial Statements.
2

MSC INDUSTRIAL DIRECT CO., INC. 
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)

Thirteen Weeks EndedThirty-Nine Weeks Ended
May 30,
2026May 31,
2025May 30,
2026May 31,
2025
Net income, as reported $78,705 $56,861 $171,971 $141,702 
Other comprehensive income, net of tax:
Foreign currency translation adjustments (1,172)6,208 1,557 (454)
Comprehensive income (1)
77,533 63,069 173,528 141,248 
Comprehensive income attributable to noncontrolling interest:
Net loss (income)1,657 (16)2,679 1,080 
Foreign currency translation adjustments82 (362)(349)(71)
Comprehensive income attributable to MSC Industrial$79,272 $62,691 $175,858 $142,257 

(1)There were no material income taxes associated with other comprehensive income during the thirteen- and thirty-nine-week periods ended May 30, 2026 and May 31, 2025.
See accompanying Notes to Condensed Consolidated Financial Statements.
3

MSC INDUSTRIAL DIRECT CO., INC.
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(In thousands, except per share data)
(Unaudited)

Thirteen Weeks EndedThirty-Nine Weeks Ended
May 30,
2026May 31,
2025May 30,
2026May 31,
2025
Class A Common Stock
Beginning Balance$57 $57 $57 $57 

Ending Balance57 57 57 57 
Additional Paid-in Capital
Beginning Balance1,102,284 1,079,823 1,093,630 1,070,269 
Associate Incentive Plans5,324 3,372 16,142 12,976 
Repurchase and retirement of Class A Common Stock, including excise tax— (20)(17)(70)
Purchase of Noncontrolling Interest(86)— (2,233)— 
Ending Balance1,107,522 1,083,175 1,107,522 1,083,175 
Retained Earnings
Beginning Balance420,212 422,813 432,622 456,850 
Net Income80,362 56,845 174,650 142,782 
Repurchase and retirement of Class A Common Stock, including excise tax— (8,506)(8,572)(32,803)
Regular cash dividends declared on Class A Common Stock(48,577)(47,319)(145,752)(142,252)

Dividend equivalents declared, net of cancellations(594)(301)(1,545)(1,045)
Ending Balance451,403 423,532 451,403 423,532 
Accumulated Other Comprehensive Loss
Beginning Balance(18,438)(27,515)(20,736)(21,144)
Foreign Currency Translation Adjustment(1,090)5,846 1,208 (525)
Ending Balance(19,528)(21,669)(19,528)(21,669)
Treasury Stock
Beginning Balance(120,544)(118,686)(117,363)(114,235)
Associate Incentive Plans682 822 2,635 2,666 
Repurchase of Class A Common Stock, including excise tax(171)(142)(5,305)(6,437)
Ending Balance(120,033)(118,006)(120,033)(118,006)
Total Shareholders’ Equity Attributable to MSC Industrial1,419,421 1,367,089 1,419,421 1,367,089 
Noncontrolling Interest
Beginning Balance1,653 8,098 8,292 9,485 
Foreign Currency Translation Adjustment(82)362 349 71 
Net loss(1,657)16 (2,679)(1,080)
Purchase of Noncontrolling Interest86 — (5,962)— 
Ending Balance— 8,476 — 8,476 
Total Shareholders’ Equity$1,419,421 $1,375,565 $1,419,421 $1,375,565 
Dividends declared per Class A Common Share$0.87 $0.85 $2.61 $2.55 

    
See accompanying Notes to Condensed Consolidated Financial Statements.

4

MSC INDUSTRIAL DIRECT CO., INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Thirty-Nine Weeks Ended
May 30,
2026May 31,
2025
Cash Flows from Operating Activities:
Net income $171,971 $141,702 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 75,788 67,501 
Amortization of cloud computing arrangements964 1,439 
Non-cash operating lease cost17,691 17,563 
Stock-based compensation 14,423 10,397 

Loss on disposal of property 611 1,742 
Property, plant and equipment asset impairment1,890 — 
Non-cash changes in fair value of estimated contingent consideration(696)293 
Provision for credit losses 8,054 5,699 
Expenditures for cloud computing arrangements (3,896)(4,430)
Deferred income taxes and tax uncertainties(578)(726)
Changes in operating assets and liabilities: 
Accounts receivable 2,959 (3,806)
Inventories (37,951)(4,761)
Prepaid expenses and other current assets (357)(2,335)
Operating lease liabilities(17,834)(17,700)
Other assets4 62 
Accounts payable and accrued liabilities(7,508)40,821 
Total adjustments 53,564 111,759 
Net cash provided by operating activities 225,535 253,461 
Cash Flows from Investing Activities:  
Expenditures for property, plant and equipment (64,130)(71,109)
Cash used in acquisitions(240)(790)
Net proceeds from sale of property 1,057 30,336 
Net cash used in investing activities (63,313)(41,563)
Cash Flows from Financing Activities:  
Repurchases of Class A Common Stock(13,894)(39,138)
Payments of regular cash dividends (145,752)(142,252)
Proceeds from sale of Class A Common Stock in connection with Associate Stock Purchase Plan 2,999 3,193 

Borrowings under credit facilities271,000 239,250 
Payments under credit facilities(251,000)(226,750)

Purchase of noncontrolling interest(8,195)— 

Other, net568 (3,901)
Net cash used in financing activities (144,274)(169,598)
Effect of foreign exchange rate changes on cash and cash equivalents (82)(196)
Net increase in cash and cash equivalents 17,866 42,104 
Cash and cash equivalents—beginning of period 56,228 29,588 
Cash and cash equivalents—end of period $74,094 $71,692 

Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes $58,763 $35,402 
Cash paid for interest $16,448 $18,036 

See accompanying Notes to Condensed Consolidated Financial Statements.
5

MSC INDUSTRIAL DIRECT CO., INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Dollar amounts and shares in thousands, except per share data)
(Unaudited)

Note 1. Basis of Presentation
The unaudited Condensed Consolidated Financial Statements have been prepared by the management of MSC Industrial Direct Co., Inc. (together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest, “MSC Industrial” or the “Company”) and in the opinion of management include all normal recurring adjustments necessary to present fairly the Company’s financial position as of May 30, 2026 and August 30, 2025, results of operations for the thirteen and thirty-nine weeks ended May 30, 2026 and May 31, 2025, and cash flows for the thirty-nine weeks ended May 30, 2026 and May 31, 2025. The financial information as of August 30, 2025 was derived from the Company’s audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 30, 2025. 
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the SEC. The Company, however, believes that the disclosures contained in this Report comply with the requirements of Section 13(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), for a Quarterly Report on Form 10-Q and are adequate to make the information presented not misleading. The unaudited Condensed Consolidated Financial Statements and these Notes to Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 30, 2025.
Fiscal Year
The Company operates on a 52/53-week fiscal year ending on the Saturday closest to August 31st of each year. References to “fiscal year 2026” refer to the period from August 31, 2025 to August 29, 2026, which is a 52-week fiscal year. References to “fiscal year 2025” refer to the period from September 1, 2024 to August 30, 2025, which is a 52-week fiscal year. The fiscal quarters ended May 30, 2026 and May 31, 2025 refer to the thirteen weeks ended as of those dates.
Principles of Consolidation
The unaudited Condensed Consolidated Financial Statements include the accounts of MSC Industrial Direct Co., Inc., its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation.
Accounting Standards Not Yet Adopted
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures. The ASU primarily enhances and expands both the income tax rate reconciliation disclosure and the income taxes paid disclosure. The ASU is effective for annual periods beginning after December 15, 2024 (MSC’s fiscal year 2026) on a prospective basis. The adoption of this guidance is not expected to affect the Company’s Consolidated Financial Statements and the Company is currently evaluating the standard to determine the impact of adoption on its disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income- Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The ASU requires public entities to include more detailed disclosures about specific categories of expenses such as inventory purchases, employee compensation, depreciation, amortization and selling costs within the notes to the financial statements. The ASU is effective for fiscal year periods beginning after December 15, 2026 (MSC’s fiscal year 2028) and interim periods within fiscal years beginning after December 15, 2027 (MSC’s first quarter of fiscal year 2029), with early adoption permitted. The adoption of this guidance is not expected to affect the Company’s Consolidated Financial Statements and the Company is currently evaluating the standard to determine the impact of adoption on its disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Topic 350-40): Targeted Improvements to Accounting for Internal-Use Software. The ASU primarily amends guidance for 
6

MSC INDUSTRIAL DIRECT CO., INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Dollar amounts and shares in thousands, except per share data)
(Unaudited)

accounting and disclosure of internal-use software, including clarifying the requirements for capitalizing costs and removal of references to the stage-based approach for capitalizing costs. The ASU is effective for annual periods beginning after December 15, 2027 (MSC’s fiscal year 2029) on a prospective, retrospective or modified prospective approach. The Company is currently evaluating the standard to determine the impact of adoption on its Consolidated Financial Statements and disclosures.

Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to have a material impact on the Consolidated Financial Statements.

Reclassifications

Certain prior period line items on the Condensed Consolidated Statements of Cash Flows were combined to conform to the current period presentation. These reclassifications did not affect net cash provided by operating activities or net cash used in financing activities. 

Note 2. Revenue
Revenue Recognition 
Net sales include product revenue and shipping and handling charges, net of estimated sales returns and any related sales incentives. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products. All revenue is recognized when the Company satisfies its performance obligations under the contract, which is determined to occur when the customer obtains control of the products, and invoicing occurs at approximately the same point in time. The Company’s product sales have standard payment terms that do not exceed one year. The Company considers shipping and handling as activities to fulfill its performance obligations. Substantially all of the Company’s contracts have a single performance obligation, to deliver products, and are short-term in nature. The Company estimates product returns based on historical return rates. Total accrued sales returns were $6,329 and $7,089 as of May 30, 2026 and August 30, 2025, respectively, and are reported as Accrued expenses and other current liabilities in the unaudited Condensed Consolidated Balance Sheets. Sales taxes and value-added taxes in foreign jurisdictions that are collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales. 
Consideration Payable to Customers
The Company offers customers sales incentives, which primarily consist of volume rebates, and upfront sign-on payments. These volume rebates and sign-on payments are not in exchange for a distinct good or service and result in a reduction of net sales from the goods transferred to the customer at the later of when the related revenue is recognized or when the Company promises to pay the consideration. The Company estimates its volume rebate accruals and records its sign-on payments based on various factors, including contract terms, historical experience, and performance levels. Total accrued sales incentives, primarily related to volume rebates, were $27,940 and $22,948 as of May 30, 2026 and August 30, 2025, respectively, and are included in Accrued expenses and other current liabilities in the unaudited Condensed Consolidated Balance Sheets. Sign-on payments, not yet recognized as a reduction of net sales, are recorded in Prepaid expenses and other current assets in the unaudited Condensed Consolidated Balance Sheets and were $6,143 and $6,723 as of May 30, 2026 and August 30, 2025, respectively. 
Contract Assets and Liabilities 
The Company records a contract asset when it has a right to payment from a customer that is conditioned on events other than the passage of time. The Company records a contract liability when customers prepay but the Company has not yet satisfied its performance obligations. The Company did not have material contract assets or liabilities as of May 30, 2026 and August 30, 2025.
7

MSC INDUSTRIAL DIRECT CO., INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Dollar amounts and shares in thousands, except per share data)
(Unaudited)

Disaggregation of Revenue 
The Company serves a large number of customers of various types and in diverse industries, which are subject to different economic and industry factors. The Company’s presentation of net sales by customer end-market, customer type and geography most reasonably depicts how the nature, amount, timing and uncertainty of Company revenue and cash flows are affected by economic and industry factors. The Company does not disclose net sales information by product category as it is impracticable to do so as a result of its numerous product offerings and the way its business is managed.
The following table presents the Company’s percentage of revenue by customer end-market for the thirteen- and thirty-nine-week periods ended May 30, 2026 and May 31, 2025:

Thirteen Weeks Ended Thirty-Nine Weeks Ended
May 30, 2026May 31, 2025May 30, 2026May 31, 2025
Manufacturing Heavy58 %58 %58 %58 %
Manufacturing Light9 %9 %9 %9 %
Public Sector9 %9 %9 %9 %
Retail/Wholesale7 %7 %7 %7 %
Commercial Services4 %5 %4 %5 %
Other (1)
13 %12 %13 %12 %
Total 100 %100 %100 %100 %

(1)The Other category primarily makes up specific industry classifications that do not individually exceed 3% of net sales.

The Company groups customers into three categories by type of customer: national account, public sector and core and other. National account customers include Fortune 1000 companies, large privately held companies, and international companies doing business in North America. Public sector customers are governments and their instrumentalities such as federal agencies, state governments, and public sector healthcare providers. Federal government customers include the United States General Services Administration, the United States Department of Defense, the United States Marine Corps, the United States Coast Guard, the United States Postal Service, the United States Department of Energy, large and small military bases, Veterans Affairs hospitals, and correctional facilities. The Company has individual state and local contracts, as well as contracts through partnerships with several state co-operatives. Core and other customers are those customers that are not national account customers or public sector customers.

The following table presents the Company’s percentage of revenue by customer type for the thirteen- and thirty-nine-week periods ended May 30, 2026 and May 31, 2025:

Thirteen Weeks EndedThirty-Nine Weeks Ended
May 30, 2026May 31, 2025May 30, 2026May 31, 2025
National Account Customers36 %37 %36 %37 %
Public Sector Customers 9 %9 %9 %9 %
Core and Other Customers55 %54 %55 %54 %
Total100 %100 %100 %100 %

8

MSC INDUSTRIAL DIRECT CO., INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Dollar amounts and shares in thousands, except per share data)
(Unaudited)

The Company’s revenue originating from the following geographic areas was as follows for the thirteen- and thirty-nine-week periods ended May 30, 2026 and May 31, 2025:

Thirteen Weeks EndedThirty-Nine Weeks Ended
May 30, 2026May 31, 2025May 30, 2026March 31, 2025
United States95 %95 %95 %95 %
Mexico1 %2 %1 %2 %
Canada2 %2 %2 %2 %
North America 98 %99 %98 %99 %
Other foreign countries2 %1 %2 %1 %
Total 100 %100 %100 %100 %

Note 3. Net Income per Share
Basic net income per share is computed by dividing net income by the weighted-average number of shares of the Company’s Class A Common Stock (“Class A Common Stock”) outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of shares of Class A Common Stock outstanding during the period, including potentially dilutive shares of Class A Common Stock equivalents outstanding during the period. The dilutive effect of potential shares of Class A Common Stock is determined using the treasury stock method. The following table sets forth the computation of basic and diluted net income per common share under the treasury stock method for the thirteen- and thirty-nine-week periods ended May 30, 2026 and May 31, 2025:

Thirteen Weeks EndedThirty-Nine Weeks Ended
May 30,
2026May 31,
2025May 30,
2026May 31,
2025
Numerator:
Net income attributable to MSC Industrial, as reported$80,362 $56,845 $174,650 $142,782 
Denominator:
Weighted-average shares outstanding for basic net income per share55,838 55,694 55,817 55,795 
Effect of dilutive securities152 71 138 100 
Weighted-average shares outstanding for diluted net income per share55,990 55,765 55,955 55,895 
Net income per share:
Basic$1.44 $1.02 $3.13 $2.56 
Diluted$1.44 $1.02 $3.12 $2.55 

Potentially dilutive securities—208—170

Potentially dilutive securities attributable to outstanding share-based awards are excluded