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Jun 30, 2021
DSG Q2 2021 Earnings Report
Lawson Products' financial performance benefited from continuing recovery in customers' end markets, the inclusion of the 2020 Partsmaster acquisition, and ongoing operational investments.
Key Takeaways
Lawson Products reported a strong second quarter with sales reaching $107 million, driven by recovery in customer end markets, the Partsmaster acquisition, and operational investments. The company also successfully transitioned Partsmaster sales representatives to the Lawson platform.
Achieved second quarter sales of $106.5 million compared to $72.1 million in the prior year quarter and $103.6 million in the first quarter.
Reported operating income was $3.4 million in the second quarter of 2021 compared to $0.6 million in the second quarter of 2020.
Reported net income of $2.9 million for the quarter, or $0.31 per diluted share compared to $0.07 in the prior year quarter.
Ended the quarter with cash on hand, net of borrowings of $0.9 million and $91.9 million of availability under the credit facility after final payment in May 2021 of the $33.0 million accrued acquisition liability for Partsmaster.
Revenue by Segment
Forward Guidance
While continuing to give due respect to the uncertainties and unevenness of the pandemic recovery, the company remains in position to continue executing on all three pillars of its strategy to grow through sales rep productivity, expansion of its sales team and make accretive acquisitions on a reduced cost structure.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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