Distribution Solutions Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 07:30 am EDT
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Distribution Solutions Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 438.91 million compared to USD 347.15 million a year ago. Net loss was USD 1.57 million compared to net income of USD 16.54 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.43 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to diluted earnings per share from continuing operations of USD 0.42 a year ago.
For the nine months, sales was USD 1,165.16 million compared to USD 822.57 million a year ago. Net income was USD 7.36 million compared to USD 9.29 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.27 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to USD 0.27 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. 
