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Mar 31, 2023
ePlus Q4 2023 Earnings Report
ePlus's Q4 2023 earnings reflected strong growth in net sales, gross profit, and earnings per share, driven by a focus on high-value end markets and strategic investments.
Key Takeaways
ePlus reported a strong fourth quarter with a 9.0% increase in net sales to $492.2 million and a 35.5% increase in net earnings to $32.9 million. Diluted earnings per share increased by 35.2% to $1.23, and non-GAAP diluted earnings per share increased by 34.7% to $1.36.
Net sales increased by 9.0% to $492.2 million, with technology segment net sales up 15.2% to $483.2 million.
Consolidated gross profit increased by 14.7% to $132.3 million, and gross margin improved to 26.9%.
Net earnings increased by 35.5% to $32.9 million, with diluted earnings per share at $1.23 and non-GAAP diluted earnings per share at $1.36.
The company's headcount increased by 177, with 140 customer-facing employees, including 84 in professional services and technical support.
Forward Guidance
Despite an uncertain economic environment, ePlus believes its portfolio is strongly aligned with customers' needs and remains committed to building long-term stakeholder value through organic growth, acquisitions, and operational efficiencies.
Positive Outlook
- Resilient business model and capabilities to deliver cost-effective technology solutions.
- IT spending focused on solutions that drive growth, digital transformation, efficiencies, and cybersecurity.
- Portfolio strongly aligned with customers’ needs.
- Commitment to building long-term stakeholder value.
- Consistent execution of growth strategy both organically and through acquisitions and generating further operational efficiencies.
Challenges Ahead
- Uncertain economic environment.
- Ongoing remote work trends.
- Increase in cybersecurity attacks while employees work remotely.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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