DSG Q1 2022 Earnings Report
Key Takeaways
Lawson Products reported a 13.8% increase in sales compared to the prior year quarter, driven by growth in the integrated Lawson/Partsmaster business and The Bolt Supply House. The company is taking actions to mitigate inflationary pressures and investing in sales representatives to improve productivity.
Net sales increased to $117.9 million compared to $103.6 million in the first quarter 2021.
Average daily sales (ADS) were $1.842 million in the first quarter 2022, an improvement of 12.0% compared to $1.644 million of ADS in the first quarter of 2021.
Reported operating income was $12.1 million compared to operating income of $4.8 million in the prior year quarter, inclusive of a $5.0 million non-operating net benefit.
Adjusted EBITDA was $9.2 million or 7.8% of sales for the quarter compared to $9.1 million or 8.8% of sales in the first quarter 2021.
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DSG Revenue by Geographic Location
Forward Guidance
The company did not provide specific forward guidance in this earnings report. However, they mentioned continuing to invest in growth initiatives and pursue accretive acquisitions.