Thu, Oct 31, 11:54 AM (63 days ago)
**Summary of Distribution Solutions Group, Inc. (DSGR) Q3 2024 Financial Performance** For the quarter ending September 30, 2024, Distribution Solutions Group, Inc. (DSGR) reported revenue of $468,019,000, a 6.7% increase from $438,909,000 in Q3 2023. The gross profit rose to $158,848,000, with a gross margin of 33.9%. Operating income improved to $18,947,000, compared to $12,783,000 in the previous year. Net income was $21,921,000, reversing a loss of $1,568,000 in Q3 2023, largely due to a tax benefit of $19 million. The company experienced a significant increase in SG&A expenses, which totaled $139,901,000, reflecting costs associated with recent acquisitions. Cash flow from operations was $10,736,000, a decline from $74,053,000 in the prior year, influenced by increased working capital needs. DSGR completed several acquisitions, including Source Atlantic and S&S Automotive, which contributed to revenue growth. The company amended its credit facility, increasing its borrowing capacity to support these acquisitions. Despite challenges such as inflation and supply chain constraints, DSGR remains focused on organic growth and strategic acquisitions to enhance its market position.