Distribution Solutions Group, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 07, 2024 at 07:30 am EST
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Distribution Solutions Group, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 405.24 million compared to USD 328.85 million a year ago. Net loss was USD 16.33 million compared to USD 1.88 million a year ago. Basic loss per share from continuing operations was USD 0.35 compared to USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.35 compared to USD 0.05 a year ago.
For the full year, sales was USD 1,570.4 million compared to USD 1,151.42 million a year ago. Net loss was USD 8.97 million compared to net income of USD 7.41 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to basic earnings per share from continuing operations of USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 0.2 compared to diluted earnings per share from continuing operations of USD 0.21 a year ago.
Distribution Solutions Group, Inc. is a specialty distribution company. The Company is engaged in providing value-added distribution solutions to the maintenance, repair and operations (MRO), original equipment manufacturer (OEM) and industrial technology markets. The Company operates through three segments: Lawson, Gexpro Services and TestEquity. Lawson is a distributor of products and services to the industrial, commercial, institutional and governmental MRO marketplace. Lawson primarily distributes MRO products to its customers through a network of sales representatives throughout the United States and Canada. TestEquity is a distributor of test and measurement equipment and solutions, electronic production supplies and tool kits from its manufacturing partners. The Companyâs Gexpro Services is a global supply chain solutions provider, specializing in the development of mission critical production line management, aftermarket and field installation programs.
DISTRIBUTION SOLUTIONS GROUP, INC. 
