Distribution Solutions Group Announces 2025 Second Quarter Results

About this update from Distribution Solutions Group, Inc.

Strong 14.3% Revenue Growth Drives Improved Operating Income, Cash Flows and Sequential Margins FORT WORTH, Texas --(BUSINESS WIRE)-- Distribution Solutions Group, Inc. (NASDAQ:DSGR) ("DSG" or the "Company") , a premier specialty distribution company, today announced consolidated results for the second quarter ended June 30, 2025 . This press release is supplemented by an earnings presentation at https://investor.distributionsolutionsgroup.com/news/events . The following represents a summary of certain operating results (unaudited). See the reconciliations of GAAP to non-GAAP measures in Tables 2, 3 and 4. Three Months Ended June 30 , March 31 , (Dollars in thousands) 2025 2024 % Change 2025 % Change Revenue $ 502,437 $ 439,536 14.3 % $ 478,029 5.1 % Operating income $ 26,826 $ 14,158 89.5 % $ 20,097 33.5 % Non-GAAP adjusted operating income $ 39,873 $ 38,852 2.6 % $ 34,392 15.9 % Non-GAAP adjusted EBITDA $ 48,561 $ 45,181 7.5 % $ 42,786 13.5 % Operating income (loss) as a percent of revenue 5.3 % 3.2 % 210bps 4.2 % 110bps Adjusted EBITDA as a percent of revenue 9.7 % 10.3 % -60bps 9.0 % 70bps N/M - Not meaningful Bryan King , CEO and Chairman, said, "We are pleased to deliver strong top and bottom-line results and cash flows for the quarter. Sales increased 14.3% to $502.4 million for the quarter, driven by acquisitions and a 3.3% average daily organic sales growth versus last year. Sequentially, seasonal daily sales grew by 2.4% over the first quarter. Adjusted EBITDA rose to $48.6 million , or 9.7% of sales, and grew year-over-year and sequentially by 7.5% and 13.5%, respectively. Compared to the same quarter last year, Adjusted EBITDA margins declined slightly pressured by approximately 60bps from our Source Atlantic acquisition. However, we saw a lift in margin sequentially as we vigorously work on improving margins in Canada . "In the second quarter, each of our operational teams delivered sequential expansion of adjusted margins driven partially by an expected seasonality benefit, but also evidencing progress on the execution of initiatives across our DSG platform. Sequentially, Lawson’s net margins in the quarter expanded from 11.9% to 12.6%, Gexpro Services expanded from 12.6% to 13.4%, TestEquity expanded from 6.8% to 6.9% and Canada Branch Division expanded from 5.2% to 6.5%. Initiatives to improve margins in each of our five 2024 acquisitions are still in the early stages, and we remain confident in our plan to enhance margins further and achieve higher returns. During the quarter, the teams also improved working capital management, enabling us to generate $33.3 million from cash flows from operations while ending the quarter with no outstanding revolver debt. We are well positioned with liquidity and flexibility as we evaluate our acquisition pipeline. "DSG’s core strengths include strong vendor relationships and robust source capabilities, which have become increasingly important amid ongoing trade policy changes. These shifts have driven greater customer engagement as DSG teams help guide customers through sourcing options and product alternatives to add value. We remain cautiously optimistic about the remainder of 2025 given this uncertainty. In the first half of 2025, our stock buyback program was active, and we repurchased $20.0 million of DSGR stock, with $8.8 million of the repurchases occurring in the second quarter. I am confident that we will continue to build strong businesses through a combination of organic growth and the acquisition of strategic bolt-on businesses. We are fully aligned with shareholders and expect that by generating significant free cash flow and building structurally higher margin businesses, that our shareholders will be rewarded with an expanded valuation," concluded Mr. King . 2025 Second Quarter Summary (1) Revenue increased $62.9 million , or 14.3%, to $502.4 million , driven by $48.8 million of incremental revenue from five acquisitions closed in 2024. Organic sales grew 3.3% over a year ago and 5.1% sequentially over the first quarter of 2025. Operating income was $26.8 million , net of $11.7 million of non-cash acquired intangible amortization and $1.4 million of non-recurring severance and acquisition-related retention costs, stock-based compensation, acquisition-related costs and other non-recurring items. This compares to an operating income of $14.2 million in the prior year quarter, net of similar items as 2024. Adjusted operating income, excluding these non-cash and non-recurring items, was $39.9 million in the current quarter compared to $38.9 million in the year-ago quarter and $34.4 million in the first quarter of 2025. Diluted net income per share was $0.11 for the quarter compared to diluted net income per share of $0.04 in the year-ago quarter. Adjusted EBITDA grew $3.4 million to $48.6 million , or 9.7% of sales, compared to $45.2 million , or 10.3% of sales in the prior year quarter. Inclusion of the 2024 Source Atlantic acquisition compressed Adjusted EBITDA as a percentage of sales by approximately 60bps over the year ago quarter. Sequentially, Adjusted EBITDA increased by $5.8 million from the first quarter of 2025 and increased as a percentage of sales by 70bps. Cash flow from operations was $33.3 million for the quarter. Uses of cash for the quarter included net capital expenditures of $5.5 million and share repurchases of $8.8 million . The Company ended the quarter with total liquidity of $314.4 million , consisting of $61.8 million of cash (restricted and unrestricted) and $252.7 million available under its credit facility with net debt leverage of 3.5x. (1) See reconciliation of GAAP to non-GAAP measures in tables 2, 3 and 4. Conference Call Distribution Solutions Group, Inc. will conduct a conference call with investors to discuss 2025 second quarter results at 9:00 a.m. Eastern Time on July 31, 2025 . The conference call is available by direct dial at 1-888-506-0062 in the U.S. or 1-973-528-0011 from outside of the U.S. The participant access code is 661521. A replay of the conference call will be available by telephone approximately two hours after completion of the call through August 14, 2025 . Callers can access the replay by dialing 1-877-481-4010 in the U.S. or 1-919-882-2331 outside the U.S. The passcode for the replay is 52605. A streaming audio of the call and an archived replay will also be available on the investor relations page of Distribution Solutions Group's website. Presentations may be supplemented by a series of slides appearing on the company's investor relations home page at https://investor.distributionsolutionsgroup.com/news/events . About Distribution Solutions Group, Inc. Distribution Solutions Group ("DSG") is a premier 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. DSG was formed through the strategic combination of Lawson Products , a leader in MRO distribution of C-parts, Gexpro Services, a leading global supply chain services provider to manufacturing customers, and TestEquity , a leader in electronic test & measurement solutions. Through its collective businesses, DSG is dedicated to helping customers lower their total cost of operation by increasing productivity and efficiency with the right products, expert technical support and fast, reliable delivery to be a one-stop solution provider. DSG serves approximately 200,000 customers in several diverse end markets supported by approximately 4,400 dedicated employees and strong vendor partnerships. DSG ships from strategically located distribution and service centers to customers in North America , Europe , Asia , South America and the Middle East . For more information on Distribution Solutions Group , please visit www.distributionsolutionsgroup.com . This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the “safe-harbor” provisions under the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. The Terms "aim," "anticipate," "believe," "contemplates," "continues," "could," "ensure," "estimate," "expect," "forecasts," "if," "intend," "likely," "may," "might," "objective," "outlook," "plan," "positioned," "potential," "predict," "probable," "project," "shall," "should," "strategy," "will," "would," and variations of them and other words and terms of similar meaning and expression (and the negatives of such words and terms) are intended to identify forward-looking statements. Forward-looking statements can also be identified by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements are based on current expectations and involve inherent risks, uncertainties and assumptions, including factors that could delay, divert or change any of them, and could cause actual outcomes to differ materially from current expectations. DSG can give no assurance that any goal or plan set forth in forward-looking statements can be achieved and DSG cautions readers not to place undue reliance on such statements. DSG undertakes no obligation to release publicly any revisions to forward-looking statements as a result of new information, future events or otherwise. Each forward-looking statement speaks only as of the date on which such statement is made, and DSG undertakes no obligation to update any such statement to reflect events or circumstances arising after such date. Actual results may differ materially from those projected as a result of certain risks and uncertainties. Factors that could cause or contribute to such differences or that might otherwise impact DSG’s business, financial condition and results of operations include the risks that DSG may encounter difficulties integrating the business of DSG with the business of other companies that DSG has combined with or may otherwise combine with and that certain assumptions with respect to such business or transactions could prove to be inaccurate. Certain risks associated with DSG’s business are also discussed from time to time in the reports DSG files with the Securities and Exchange Commission , including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K or other reports the Company may file from time to time with the Securities and Exchange Commission , which should be reviewed carefully. Distribution Solutions Group, Inc. Condensed Consolidated Balance Sheets (Dollars in thousands, except share data) (Unaudited) June 30 , 2025 December 31 , 2024 ASSETS Current assets: Cash and cash equivalents $ 47,430 $ 66,479 Restricted cash 14,333 15,247 Accounts receivable, less allowances 283,467 250,717 Inventories 350,303 348,226 Prepaid expenses and other current assets 45,373 31,505 Total current assets 740,906 712,174 Property, plant and equipment, net 127,095 125,524 Rental equipment, net 36,819 39,376 Goodwill 468,573 462,789 Deferred tax asset, net 159 136 Intangible assets, net 249,562 269,763 Cash value of life insurance 20,592 19,916 Right of use operating lease assets 103,268 91,962 Other assets 5,009 5,615 Total assets $ 1,751,983 $ 1,727,255 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 143,262 $ 125,575 Current portion of long-term debt 41,378 40,476 Current portion of lease liabilities 19,131 18,951 Accrued expenses and other current liabilities 82,529 81,259 Total current liabilities 286,300 266,261 Long-term debt, less current portion, net 674,994 693,903 Lease liabilities 91,704 77,758 Deferred tax liability, net 24,081 22,265 Other liabilities 25,529 26,525 Total liabilities 1,102,608 1,086,712 Stockholders' equity: Preferred stock, $1 par value: Authorized - 500,000 shares, issued and outstanding — None — — Common stock, $1 par value: Authorized - 70,000,000 shares Issued - 47,811,425 and 47,738,290 shares, respectively Outstanding - 46,275,093 and 46,856,757 shares, respectively 46,275 46,856 Capital in excess of par value 681,808 677,473 Retained deficit (33,775 ) (42,039 ) Treasury stock – 1,536,332 and 881,533 shares, respectively (39,932 ) (19,631 ) Accumulated other comprehensive income (loss) (5,001 ) (22,116 ) Total stockholders' equity 649,375 640,543 Total liabilities and stockholders' equity $ 1,751,983 $ 1,727,255 Distribution Solutions Group, Inc. Condensed Consolidated Statements of Operations (Dollars in thousands, except per share data) (Unaudited) Three Months Ended Six Months Ended June 30 , June 30 , 2025 2024 2025 2024 Revenue $ 502,437 $ 439,536 $ 980,466 $ 855,622 Cost of goods sold 332,353 288,009 646,402 560,686 Gross profit 170,084 151,527 334,064 294,936 Selling, general and administrative expenses 143,258 137,369 287,141 277,995 Operating income (loss) 26,826 14,158 46,923 16,941 Interest expense (14,238 ) (12,793 ) (28,453 ) (24,620 ) Change in fair value of earnout liabilities — (8 ) (1,000 ) (3 ) Other income (expense), net (726 ) 359 (94 ) 97 Income (loss) before income taxes 11,862 1,716 17,376 (7,585 ) Income tax expense (benefit) 6,859 (180 ) 9,112 (4,257 ) Net income (loss) $ 5,003 $ 1,896 $ 8,264 $ (3,328 ) Basic income (loss) per share of common stock $ 0.11 $ 0.04 $ 0.18 $ (0.07 ) Diluted income (loss) per share of common stock $ 0.11 $ 0.04 $ 0.17 $ (0.07 ) Basic weighted average shares outstanding 46,381,194 46,818,932 46,490,702 46,798,055 Diluted weighted average shares outstanding 46,562,690 47,623,712 47,295,547 46,798,055 Distribution Solutions Group, Inc. Condensed Consolidated Statements of Cash Flows (Dollars in thousands) (Unaudited) Six Months Ended June 30 , 2025 2024 Operating activities Net income (loss) $ 8,264 $ (3,328 ) Adjustments to reconcile to net cash used in operating activities: Depreciation and amortization 40,317 35,587 Amortization of debt issuance costs 1,752 1,320 Stock-based compensation 2,224 1,891 Deferred income taxes 1,793 (1,541 ) Change in fair value of earnout liabilities 1,000 3 (Gain) loss on sale of rental equipment (2,129 ) (900 ) (Gain) loss on sale of property, plant and equipment (543 ) (5 ) Charge for step-up of acquired inventory — 634 Net realizable value adjustment and write-offs for obsolete and excess inventory 4,907 3,110 Bad debt expense 2,119 106 Changes in operating assets and liabilities, net of acquisitions: Accounts receivable (31,048 ) (18,331 ) Inventories (1,470 ) (1,636 ) Prepaid expenses and other current assets (16,364 ) (15,345 ) Accounts payable 15,552 9,771 Accrued expenses and other current liabilities 1,216 15,636 Other changes in operating assets and liabilities 946 1,037 Net cash provided by (used in) operating activities 28,536 28,009 Investing activities Purchases of property, plant and equipment (10,289 ) (5,829 ) Proceeds from sale of property, plant and equipment 990 — Business acquisitions, net of cash acquired (1,426 ) (95,437 ) Purchases of rental equipment (7,177 ) (3,214 ) Proceeds from sale of rental equipment 5,913 2,110 Net cash provided by (used in) investing activities (11,989 ) (102,370 ) Financing activities Proceeds from revolving lines of credit 196,652 84,139 Payments on revolving lines of credit (195,865 ) (40,285 ) Payments on term loans (20,125 ) (8,188 ) Repurchase of common stock (20,256 ) (1,683 ) Shares repurchased held in treasury (45 ) (538 ) Stock option exercises 877 — Payment of financing lease principal (296 ) (237 ) Net cash provided by (used in) financing activities (39,058 ) 33,208 Effect of exchange rate changes on cash and cash equivalents 2,548 (1,562 ) Increase (decrease) in cash, cash equivalents and restricted cash (19,963 ) (42,715 ) Cash, cash equivalents and restricted cash at beginning of period 81,726 99,626 Cash, cash equivalents and restricted cash at end of period $ 61,763 $ 56,911 Cash and cash equivalents $ 47,430 $ 46,786 Restricted cash 14,333 10,125 Total cash, cash equivalents and restricted cash $ 61,763 $ 56,911 Distribution Solutions Group, Inc. Segment Reporting Change in Reportable Segments: In the third quarter of 2024, as a result of the Source Atlantic Limited ("Source Atlantic ") acquisition, we realigned our reportable segments by adding a new segment with a focus on the Canadian MRO market. The new Canada Branch Division segment includes the results of Source Atlantic and Bolt Supply House ("Bolt"). The results of Bolt had previously been included in our All Other non-reportable segment prior to Q3 2024. The results of the Lawson, TestEquity and Gexpro Services reportable segments did not change. The segment realignment had no impact on our financial condition or results of operations. Prior period segment results have been recast to reflect our new reportable segments. Distribution Solutions Group, Inc. Table 1 - Selected Segment Financial Data (Dollars in thousands) (Unaudited) Three Months Ended June 30 , 2025 2024 Revenue: Lawson Products $ 124,313 $ 121,118 Canada Branch Division 55,852 14,471 Gexpro Services 127,807 107,134 TestEquity 195,046 197,481 Intersegment revenue elimination (581 ) (668 ) Total $ 502,437 $ 439,536 Operating income (loss): Lawson Products $ 7,975 $ 6,129 Canada Branch Division 1,751 1,463 Gexpro Services 13,902 8,091 TestEquity 4,813 703 All Other (1,615 ) (2,228 ) Total $ 26,826 $ 14,158 DISTRIBUTION SOLUTIONS GROUP, INC. SEC REGULATION G GAAP RECONCILIATIONS The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, the Company's management believes that certain non-GAAP financial measures may provide users of this financial information with additional meaningful comparisons between current results and results in prior operating periods. Management believes that these non-GAAP financial measures can provide additional meaningful reflections of underlying trends of the business because they provide a comparison of historical information that excludes certain non-operational or non-cash items that impact the overall comparability. See Tables below for supplemental financial data and corresponding reconciliations to GAAP financial measures for the three months ended June 30, 2025 and 2024 and the three months ended March 31, 2025 . Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company's reported results prepared in accordance with GAAP. Distribution Solutions Group, Inc. Table 2 - Reconciliation of GAAP Net Income (Loss) and GAAP Operating Income (Loss) to Non-GAAP Adjusted EBITDA (Dollars in thousands) (Unaudited) Three Months Ended June 30 , March 31 , 2025 2024 2025 Net income (loss) $ 5,003 $ 1,896 $ 3,261 Income tax expense (benefit) 6,859 (180 ) 2,253 Other income (expense), net 726 (359 ) (632 ) Change in fair value of earnout liabilities — 8 1,000 Interest expense 14,238 12,793 14,215 Operating income (loss) 26,826 14,158 20,097 Depreciation and amortization 20,338 18,535 19,979 Stock-based compensation(1) 1,250 (307 ) 974 Severance and acquisition related retention expenses(2) 355 8,313 1,628 Acquisition related costs(3) (208 ) 3,598 108 Inventory step-up(4) — 634 — Other non-recurring(5) — 250 — Non-GAAP adjusted EBITDA $ 48,561 $ 45,181 $ 42,786 Operating income (loss) as a percent of revenue 5.3% 3.2% 4.2% Adjusted EBITDA as a percent of revenue 9.7% 10.3% 9.0% (1) Expense (benefit) primarily for stock-based compensation, of which a portion varies with the Company's stock price. (2) Includes severance expense for actions taken not related to a formal restructuring plan and acquisition related retention expenses. (3) Transaction and integration costs related to acquisitions. (4) Inventory fair value step-up adjustment for acquisition accounting related to acquisitions completed. (5) Other non-recurring costs consist of certain non-recurring strategic projects and other non-recurring items. Distribution Solutions Group, Inc. Table 3 - Reconciliation of GAAP Net Income (Loss) and GAAP Diluted EPS to Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Diluted EPS (Dollars in thousands, except per share data) (Unaudited) Three Months Ended June 30, 2025 June 30, 2024 March 31, 2025 Amount Diluted EPS(2) Amount Diluted EPS(2) Amount Diluted EPS(2) Net income (loss) $ 5,003 $ 0.11 $ 1,896 $ 0.04 $ 3,261 $ 0.07 Pretax adjustments: Stock-based compensation 1,250 0.03 (307 ) (0.01 ) 974 0.02 Acquisition related costs (208 ) — 3,598 0.08 108 — Amortization of intangible assets 11,650 0.25 12,206 0.26 11,585 0.24 Severance and acquisition related retention expenses 355 0.01 8,313 0.17 1,628 0.03 Change in fair value of earnout liabilities — — 8 — 1,000 0.02 Inventory step-up — — 634 0.01 — — Other non-recurring — — 250 0.01 — — Total pretax adjustments 13,047 0.29 24,702 0.52 15,295 0.31 Tax effect on adjustments(1)/(3) (3,135 ) (0.08 ) (7,238 ) (0.15 ) (4,044 ) (0.07 ) Deferred tax asset valuation allowance(3)/(4) 1,536 0.03 (410 ) (0.01 ) 190 — Non-GAAP adjusted net income $ 16,451 $ 0.35 $ 18,950 $ 0.40 $ 14,702 $ 0.31 (1) The adjustment to the income tax expense (benefit) is determined by excluding the non-GAAP adjustments by jurisdiction. (2) Pretax adjustments to diluted EPS calculated on 46.563 million, 47.624 million and 47.400 million diluted shares for the second quarter of 2025 and 2024, and the first quarter of 2025, respectively. (3) The quarter-to-date amounts are derived from the current period year-to-date amount less the previous quarter year-to-date amount. (4) The estimated impact to the deferred tax asset valuation allowance from interest expense limitations under Section 163(j) determined by including the non-GAAP adjustments by jurisdiction. Distribution Solutions Group, Inc. Table 4 - Reconciliation of GAAP Operating Income (Loss) to Non-GAAP Adjusted Operating Income (Dollars in thousands) (Unaudited) Three Months Ended June 30 , March 31 , 2025 2024 2025 Operating income (loss) $ 26,826 $ 14,158 $ 20,097 Gross profit adjustments: Inventory step-up(1) — 634 — Total gross profit adjustments — 634 — Selling, general and administrative expenses adjustments: Acquisition related costs(2) (208 ) 3,598 108 Amortization of intangible assets 11,650 12,206 11,585 Stock-based compensation(3) 1,250 (307 ) 974 Severance and acquisition related retention expenses(4) 355 8,313 1,628 Other non-recurring(5) — 250 — Total selling, general and administrative adjustments 13,047 24,060 14,295 Total adjustments 13,047 24,694 14,295 Non-GAAP adjusted operating income $ 39,873 $ 38,852 $ 34,392 (1) Inventory fair value step-up adjustment for acquisition accounting related to acquisitions completed. (2) Transaction and integration costs related to acquisitions. (3) Expense (benefit) primarily for stock-based compensation, of which a portion varies with the Company's stock price. (4) Includes severance expense for actions taken not related to a formal restructuring plan and acquisition related retention expenses. (5) Other non-recurring costs consist of certain non-recurring strategic projects and other non-recurring items. Distribution Solutions Group, Inc. Table 5 - Reconciliation of GAAP Operating Income (Loss) to Non-GAAP Adjusted EBITDA Q2 2025 and Q2 2024 (Dollars in thousands) (Unaudited) Lawson Products Gexpro Services TestEquity Canada Branch Division All Other Eliminations Consolidated DSG Quarter Ended Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Revenue from external customers $ 124,287 $ 121,089 $ 127,474 $ 106,530 $ 194,830 $ 197,446 $ 55,846 $ 14,471 $ — $ — $ — $ — $ 502,437 $ 439,536 Intersegment revenue 26 29 333 604 216 35 6 — — — (581 ) (668 ) — — Revenue $ 124,313 $ 121,118 $ 127,807 $ 107,134 $ 195,046 $ 197,481 $ 55,852 $ 14,471 $ — $ — $ (581 ) $ (668 ) $ 502,437 $ 439,536 Operating income (loss) $ 7,975 $ 6,129 $ 13,902 $ 8,091 $ 4,813 $ 703 $ 1,751 $ 1,463 $ (1,615 ) $ (2,228 ) $ 26,826 $ 14,158 Depreciation and amortization 6,808 6,390 3,532 3,825 8,280 7,795 1,718 525 — — 20,338 18,535 Adjustments: Acquisition related costs(1) 12 2,400 (397 ) 382 29 282 148 — — 534 (208 ) 3,598 Stock-based compensation(2) 775 (633 ) 18 — 168 160 — — 289 166 1,250 (307 ) Severance and acquisition related retention expenses(3) 139 1,583 27 192 187 6,508 3 30 (1 ) — 355 8,313 Inventory step-up(4) — 634 — — — — — — — — — 634 Other non-recurring(5) — — — 250 — — — — — — — 250 Non-GAAP adjusted EBITDA $ 15,709 $ 16,503 $ 17,082 $ 12,740 $ 13,477 $ 15,448 $ 3,620 $ 2,018 $ (1,327 ) $ (1,528 ) $ 48,561 $ 45,181 Operating income (loss) as a percent of revenue 6.4% 5.1% 10.9% 7.6% 2.5% 0.4% 3.1% 10.1% N/M N/M 5.3% 3.2% Adjusted EBITDA as a percent of revenue 12.6% 13.6% 13.4% 11.9% 6.9% 7.8% 6.5% 13.9% N/M N/M 9.7% 10.3% (1) Transaction and integration costs related to acquisitions. (2) Expense (benefit) primarily for stock-based compensation, of which a portion varies with the Company's stock price. (3) Includes severance expense from actions taken not related to a formal restructuring plan and acquisition related retention expenses. (4) Inventory fair value step-up adjustment for acquisition accounting related to acquisitions completed. (5) Other non-recurring costs consist of certain non-recurring strategic projects and other non-recurring items. N/M - Not meaningful View source version on businesswire.com : https://www.businesswire.com/news/home/20250730530495/en/ Company: Distribution Solutions Group, Inc. Ronald J. Knutson Executive Vice President, Chief Financial Officer and Treasurer 1-888-611-9888 Investor Relations: Three Part Advisors, LLC Steven Hooser / Sandy Martin 214-872-2710 / 214-616-2207 Source: Distribution Solutions Group, Inc.

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