Business
Lawson Products Announces First Quarter 2020 Results
CHICAGO--(BUSINESS WIRE)-- Lawson Products, Inc. (NASDAQ: LAWS) (“Lawson” or the "Company"), a distributor of products and services to the MRO marketplace,
About this update from Distribution Solutions Group, Inc.
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nLawson Products, Inc. (NASDAQ: LAWS) (“Lawson” or the \"Company\"), a distributor of products and services to the MRO marketplace, today announced results for the first quarter ended March 31, 2020.\n\n\n\n\nFirst Quarter Summary Financial Highlights\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n\n($ in millions, except earnings per share data)\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nNet Sales\n\n\n\n \n\n\n\n$91.0\n\n\n\n \n\n\n\n$91.3\n\n\n\n \n\n\n\n(0.3)%\n\n\n\n\n\nAverage Daily Net Sales\n\n\n\n \n\n\n\n$1.422\n\n\n\n \n\n\n\n$1.450\n\n\n\n \n\n\n\n(1.9)%\n\n\n\n\n\nNumber of Business Days\n\n\n\n \n\n\n\n64\n\n\n\n \n\n\n\n63\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\nReported Operating Income\n\n\n\n \n\n\n\n$18.6\n\n\n\n \n\n\n\n$5.5\n\n\n\n \n\n\n\n236.2%\n\n\n\n\n\nAdjusted Operating Income (1)\n\n\n\n \n\n\n\n$7.9\n\n\n\n \n\n\n\n$6.0\n\n\n\n \n\n\n\n32.9%\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\n\n \n\n\n\n\n\nAdjusted EBITDA (1)\n\n\n\n \n\n\n\n$9.5\n\n\n\n \n\n\n\n$7.5\n\n\n\n \n\n\n\n26.8%\n\n\n\n\n\nAdjusted EBITDA Margin (1)\n\n\n\n \n\n\n\n10.4%\n\n\n\n \n\n\n\n8.2%\n\n\n\n \n\n\n\n+220 bps\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\nReported Diluted Earnings (loss) Per Share\n\n\n\n \n\n\n\n$1.34\n\n\n\n \n\n\n\n$0.44\n\n\n\n \n\n\n\n$0.90\n\n\n\n\n\nAdjusted Diluted Earnings Per Share (2)\n\n\n\n \n\n\n\n$0.52\n\n\n\n \n\n\n\n$0.48\n\n\n\n \n\n\n\n$0.04\n\n\n\n\n\n\n\n(1)\n\n\n\nExcludes the impact of stock-based compensation and severance. (See reconciliation in Table 1)\n\n\n\n\n\n(2)\n\n\n\nExcludes the impact of stock-based compensation and severance. (See reconciliation in Table 2)\n\n\n\n\n\n\"During this challenging coronavirus period, Lawson is focused on the safety of our team members, servicing our customers and maintaining our financial strength. Lawson has been deemed an essential business by the government. Our field sales team and distribution network continue to operate while following a strict health protocol. I am confident that the strength and dedication of our team and suppliers, coupled with our financial strength, will see us through this environment,” said Michael DeCata, president and chief executive offic...