Business
Distribution Solutions Group Announces 2022 Fourth Quarter and Full Year Results
Reported Full Year Revenue of $1.2 Billion Strong Q4 Results: Organic Sales Growth of 17% CHICAGO--(BUSINESS WIRE)-- Distribution Solutions Group, Inc.
About this update from Distribution Solutions Group, Inc.
[{"type":"text","content":"\nReported Full Year Revenue of $1.2 Billion\n\nStrong Q4 Results: Organic Sales Growth of 17%\n\n CHICAGO--(BUSINESS WIRE)--\nDistribution Solutions Group, Inc. (NASDAQ:DSGR) (\"DSG\" or the \"Company\"), a premier, multi-platform distribution company providing high touch, value-added distribution solutions to the maintenance, repair & operations (MRO), original equipment manufacturer (OEM) and industrial technologies markets, today announced consolidated results for the fourth quarter and full year ended December 31, 2022. This press release is supplemented by an earnings slide deck appearing on the Company’s investor relations home page at www.distributionsolutionsgroup.com.\n\nNote Regarding Reverse Merger Accounting\n\nAs a result of the April 1, 2022 strategic combination of Lawson Products, Gexpro Services and TestEquity, our financial results are reported under reverse merger accounting treatment as required by generally accepted accounting principles (\"GAAP\"). Accordingly, Lawson Products results are included only for the period following the April 1, 2022 merger closing date. GAAP results for the three and twelve months ended December 31, 2021 include the combined results of Gexpro Services and TestEquity, GAAP results for the three months ended December 31, 2022 include the results of Lawson Products, Gexpro Services and TestEquity and GAAP results for the year ended December 31, 2022 include the results of Lawson Products for the nine months after the April 1, 2022 merger closing date as well as the results of Gexpro Services and TestEquity for the full twelve months.\n\nThe following represents a summary of certain operating results (unaudited). See reconciliation of GAAP to non-GAAP measures in tables 2 and 3.\n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\nDecember 31,\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nDecember 31,\n\n\n\n \n\n\n\n \n\n\n\n\n\n(Dollars in thousands)\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n% Change\n\n\n\n \n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nGAAP Revenue\n\n\n\n$\n\n\n\n328,850\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n129,221\n\n\n\n \n\n\n\n \n\n\n\n154.5\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n1,151,422\n\n\n\n \n\n\...