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Distribution Solutions Group Announces Fiscal 2023 Second Quarter Results
Record Second Quarter Revenue Up 17.6% CHICAGO--(BUSINESS WIRE)-- Distribution Solutions Group, Inc. (NASDAQ:DSGR) ("DSG" or the "Company"), a multi-platform
About this update from Distribution Solutions Group, Inc.
[{"type":"text","content":"\nRecord Second Quarter Revenue Up 17.6%\n\n\n CHICAGO--(BUSINESS WIRE)--\nDistribution Solutions Group, Inc. (NASDAQ:DSGR) (\"DSG\" or the \"Company\"), a multi-platform specialty distribution company providing high touch, value-added distribution solutions to the maintenance, repair & operations (MRO), the original equipment manufacturer (OEM) and the industrial technologies markets, today announced consolidated results for the second quarter ended June 30, 2023. This press release is supplemented by an earnings slide deck appearing on the Company’s investor relations page at https://investor.distributionsolutionsgroup.com/news/events.\n\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\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n(Dollars in thousands)\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\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\n\n\n\n\n\n% Change\n\n\n\n\n\n\n\n\nGAAP Revenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n377,984\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n321,336\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n17.6\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nGAAP Operating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n13,776\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n4,113\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n234.9\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nGAAP Operating income as a percent of GAAP Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n3.6\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n1.3\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n$\n\n\n\n\n\n\n40,100\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n31,653\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n26.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted EBITDA as a percent of GAAP Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n10.6\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n9.9\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\nBryan King, CEO and Chairman of the Bo...