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Sep 30, 2023
ePlus Q2 2024 Earnings Report
Net sales increased driven by growth in most customer segments and key verticals along with solid growth in networking, collaboration and managed services.
Key Takeaways
ePlus reported a strong second quarter with net sales increasing by 19% to $587.6 million. The technology business segment saw a 21.3% increase in net sales, while professional and managed services revenues grew by 9.0%. Net earnings increased by 14.7% to $32.7 million, and diluted earnings per share rose by 14.0% to $1.22.
Net sales increased 19.0% to $587.6 million.
Technology business net sales increased 21.3% to $571.9 million.
Net earnings increased 14.7% to $32.7 million.
Diluted earnings per share increased 14.0% to $1.22.
ePlus
ePlus
Forward Guidance
ePlus is maintaining 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
- Targeting higher-growth focus areas
- Comprehensive portfolio of solutions
- Value-added services
Challenges Ahead
- Uncertain macroeconomic environment
- Customers are likely to remain disciplined in their IT spending
- Prioritizing mission-critical projects
- Cybersecurity-focused projects
- Dependence on supply chain improvements