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Jun 30, 2023
ePlus Q1 2024 Earnings Report
Net sales and EPS increased, driven by cloud and networking gains and recent acquisitions.
Key Takeaways
ePlus reported a strong first quarter with a 25.3% increase in net sales to $574.2 million and a 51.2% increase in EPS to $1.27. The growth was driven by gains in cloud and networking, contributions from recent acquisitions, and some easing of supply chain constraints.
Net sales increased by 25.3% to $574.2 million year-over-year.
Technology business net sales increased by 26.0% to $565.7 million.
Net earnings increased by 51.5% to $33.8 million.
Diluted earnings per share increased by 51.2% to $1.27.
Forward Guidance
ePlus initiated fiscal year 2024 revenue guidance of $2.23 billion to $2.33 billion, and an adjusted EBITDA range of $200 million to $215 million, representing a margin of 9.0% to 9.2%.
Positive Outlook
- Continued improvement in the supply chain
- Enabling previously delayed customer projects.
- Focus on serving faster-growing end markets
- Resilient nature of business
- Strength of backlog
Challenges Ahead
- Macroeconomic uncertainty continues to affect overall IT spending
- Organizations prioritize projects that enhance operational efficiency
- Organizations prioritize projects that reduce risk
- Organizations prioritize projects that deliver faster returns
- The Company cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of unusual gains and losses
Historical Earnings Impact
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Avg. Return Before/After Earnings
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