ePlus Q1 Beats on Sales and EBITDA, Launches 1.5M Share Buyback
PLUS sits 56% above its 52-week low of $62.11.
Summary
ePlus delivered a modest Q1 beat with net sales of $649.1M and adjusted EBITDA of $47.8M, both above consensus. Managed services revenue jumped 15.1% to a record $50M quarter, offsetting product margin pressure from mix shift and memory chip supply delays. The company also authorized a new buyback for up to 1.5M shares and reiterated full-year guidance for mid-single digit growth in sales, gross profit, and EBITDA. The stock trades near its 52-week high, and the buyback signals confidence in the outlook. Watch for progress on AI, data center, and cybersecurity expansion, which management cited as growth drivers.
At the time of this announcement, PLUS was trading at $97.05 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $62.11 to $98.14. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.