DSG Q4 2023 Earnings Report
Key Takeaways
Distribution Solutions Group reported a 23% increase in revenue to $405.2 million, driven by acquisitions, although organic revenue contracted by 6%. The company faced headwinds in the technology end-market and project-related verticals, impacting overall performance. Adjusted EBITDA remained nearly flat at $33.9 million compared to the prior year quarter.
Revenue increased by 23% to $405.2 million, primarily due to acquired revenue from Hisco.
Organic revenue contracted by 6%, but two-year stacked organic revenue grew by 10%.
Operating loss was $0.3 million, impacted by non-cash amortization and non-recurring expenses.
Adjusted EBITDA was $33.9 million, with Hisco operations pressuring adjusted EBITDA margins by approximately 35bps.
DSG
DSG
Forward Guidance
The company did not provide a specific forward guidance in this earnings report.