Distribution Solutions Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 03, 2022 at 07:51 am EDT
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Distribution Solutions Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 347.15 million compared to USD 132.09 million a year ago. Net income was USD 16.54 million compared to USD 1.23 million a year ago. Basic earnings per share from continuing operations was USD 0.425 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to USD 0.06 a year ago.
For the nine months, sales was USD 822.57 million compared to USD 391.07 million a year ago. Net income was USD 9.29 million compared to net loss of USD 0.204 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.265 compared to diluted loss per share from continuing operations of USD 0.01 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. 
