NASDAQ$PLUS
ePlus Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
ePlus's first quarter performance in fiscal year 2023 was reported, marked by double-digit top-line growth driven by solid demand for technology offerings.
ePlus reported a 10.0% increase in net sales, reaching $458.4 million, with the technology segment driving growth with a 12.1% increase. However, net earnings decreased by 5.0% to $22.3 million, while adjusted EBITDA remained flat at $38.3 million.
- Net sales increased by 10.0% to $458.4 million, with technology segment net sales up by 12.1% to $448.8 million.
- Service revenues increased by 13.5% to $63.1 million due to increases in professional services and managed services.
- Consolidated gross profit increased by 7.6% to $113.5 million, though gross margin decreased to 24.8% from 25.3% due to lower service margins.
- Net earnings decreased by 5.0% to $22.3 million, and diluted earnings per share decreased by 3.4% to $0.84, while non-GAAP diluted earnings per share increased by 1.0% to $0.99.
Headline financials
Revenue & EPS history
ePlus · Revenue · Quarterly
$458M
Forward guidance
ePlus anticipates favorable market trends for information technology spending in fiscal year 2023, focusing on integrated services and solutions to fuel customer growth, enhance efficiency, and manage cybersecurity risks. Product availability remains limited, potentially extending project timelines.
Tailwinds
- Favorable market trends for IT spending are expected to continue throughout fiscal 2023.
- Focus on providing integrated services and solutions to help fuel customer growth.
- Commitment to enhancing customer efficiency.
- Emphasis on managing cybersecurity risks effectively.
- Leveraging channel partner relationships and developing innovative solutions to minimize the impact of product availability limitations on customers.
Headwinds
- Product availability remains limited overall.
- Extended timelines for project implementations are likely.
- Investments in personnel limited first quarter earnings.
- Foreign currency transaction losses impacted earnings.
- Higher reserves for credit losses affected earnings.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+1.2%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+2.0%
Avg return
30 days after
58%
38 / 65 earnings
Positive
+21.8%
Q2 2016
Best reaction
-23.0%
Q2 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -7.3% | -9.3% | — | |
| Q3 2026 | -1.7% | +0.3% | -9.4% | |
| Q2 2026 | +15.5% | +24.8% | +22.4% | |
| Q1 2026 | +9.5% | +17.0% | +11.9% | |
| Q4 2025 | +2.0% | +7.1% | +9.3% | |
| Q3 2025 | -13.1% | -14.7% | -19.0% | |
| Q2 2025 | -17.9% | -19.3% | -19.5% | |
| Q1 2025 | +6.9% | +9.1% | +13.0% | |
| Q4 2024 | -0.4% | -1.7% | -7.8% | |
| Q3 2024 | -12.0% | -2.4% | +3.5% | |
| Q2 2024 | -9.3% | -7.3% | +5.2% | |
| Q1 2024 | +14.4% | +13.5% | +12.9% | |
| Q4 2023 | +4.9% | +7.4% | +15.5% | |
| Q3 2023 | +8.3% | +5.5% | -3.2% | |
| Q2 2023 | +3.4% | +4.7% | +2.9% | |
| Q1 2023 | -13.5% | -13.2% | -17.3% | |
| Q4 2022 | +2.8% | +2.4% | -1.1% | |
| Q3 2022 | +0.1% | +1.0% | +11.1% | |
| Q2 2022 | +6.2% | +0.4% | -6.9% | |
| Q1 2022 | +6.7% | +7.4% | +18.2% | |
| Q4 2021 | -5.4% | -3.2% | -12.1% | |
| Q3 2021 | +6.8% | +7.2% | +14.6% | |
| Q2 2021 | +5.0% | +7.3% | +21.8% | |
| Q1 2021 | +0.5% | +2.8% | -0.1% | |
| Q4 2020 | +6.8% | +5.8% | -2.6% | |
| Q3 2020 | +7.3% | +1.6% | -11.7% | |
| Q2 2020 | +20.7% | +10.9% | +5.6% | |
| Q1 2020 | +13.9% | +9.1% | +13.4% | |
| Q4 2019 | -19.7% | -16.5% | -22.1% | |
| Q3 2019 | +4.9% | +4.8% | +10.6% | |
| Q2 2019 | -5.1% | -5.3% | -13.0% | |
| Q1 2019 | -4.0% | -5.9% | -1.2% | |
| Q4 2018 | -1.4% | +1.9% | +6.3% | |
| Q3 2018 | -8.3% | -6.1% | +7.2% | |
| Q2 2018 | -23.0% | -22.3% | -18.7% | |
| Q1 2018 | +7.8% | +2.9% | +1.0% | |
| Q4 2017 | +5.0% | +3.7% | +0.3% | |
| Q3 2017 | +6.4% | +8.7% | +14.7% | |
| Q2 2017 | +7.6% | +5.1% | +22.9% | |
| Q1 2017 | -2.0% | -0.7% | +6.8% | |
| Q4 2016 | +0.7% | +1.1% | -3.6% | |
| Q3 2016 | -17.0% | — | — | |
| Q2 2016 | +21.8% | — | — | |
| Q1 2016 | +4.8% | — | — | |
| Q4 2015 | -9.7% | — | — | |
| Q3 2015 | +18.2% | — | — | |
| Q2 2015 | +19.0% | — | — | |
| Q1 2015 | +5.8% | — | — | |
| Q4 2014 | -0.8% | — | — | |
| Q3 2014 | +9.2% | — | — | |
| Q2 2014 | -0.8% | — | — | |
| Q1 2014 | -7.8% | — | — | |
| Q4 2013 | -3.1% | — | — | |
| Q3 2013 | +1.2% | — | — | |
| Q2 2013 | -5.0% | — | — | |
| Q4 2012 | -2.9% | — | — | |
| Q1 2013 | +1.4% | — | — | |
| Q4 2010 | +4.2% | — | — | |
| Q3 2012 | +1.8% | — | — | |
| Q2 2011 | +1.8% | — | — | |
| Q3 2011 | +1.8% | — | — | |
| Q2 2012 | +1.6% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q1 2012 | +0.0% | — | — |
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