Distribution Solutions Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 07:44 am
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Distribution Solutions Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 377.98 million compared to USD 321.34 million a year ago. Net income was USD 3.02 million compared to net loss of USD 4.72 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 0.115 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 0.115 a year ago.
For the six months, sales was USD 726.25 million compared to USD 475.42 million a year ago. Net income was USD 8.93 million compared to net loss of USD 7.25 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to basic loss per share from continuing operations of USD 0.235 a year ago. Diluted earnings per share from continuing operations was USD 0.205 compared to diluted loss per share from continuing operations of USD 0.235 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. 
