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Mar 31, 2024
DSG Q1 2024 Earnings Report
DSG's first quarter results were in line with near-term expectations with revenue up 19.5% and sequential margin expansion.
Key Takeaways
Distribution Solutions Group reported a 19.5% increase in revenue to $416 million for the first quarter of 2024, driven by acquisitions. The adjusted EBITDA margin improved to 8.7% compared to 8.4% in the previous quarter. The Lawson MRO vertical had strong performance, Gexpro Services OEM vertical returned to double-digit margins, and TestEquity industrial technology vertical margins stabilized.
Revenue increased by 19.5% to $416.1 million, including $99.2 million from recent acquisitions.
Two-year stacked organic revenue grew by 4.7%, despite an 8.6% decrease in current quarter organic revenue.
Operating income was $2.8 million, including $10.7 million in non-cash acquired intangible amortization and $16.2 million in non-recurring expenses.
Adjusted EBITDA was $36.1 million, representing 8.7% of revenue, compared to $39.4 million in the prior year quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is actively working its pipeline of acquisition targets, incremental margin enhancement initiatives, and cost savings -- and expect sequential margin improvements as 2024 develops.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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