Welcome to our dedicated page for ePlus news (Ticker: PLUS), a resource for investors and traders seeking the latest updates and insights on ePlus stock.
ePlus Inc. (NASDAQ: PLUS) is a leading provider of transformative technology solutions aimed at helping visionary organizations achieve their IT goals. ePlus engineers sustainable IT roadmaps through their expert team of architects, engineers, and consultants, delivering strategies to fulfillment and managed services, allowing clients to optimize their IT environments and supply chain processes.
Headquartered in Virginia, ePlus operates through its subsidiaries to offer a broad array of technology solutions that cater to medium and large enterprises across various sectors in the United States and select international markets including the UK, EU, India, Singapore, and Israel. The company’s robust portfolio includes consulting, professional and managed services, and complete lifecycle management services, complemented by flexible financing solutions.
ePlus maintains deep partnerships with top manufacturers, leveraging these relationships to stay at the forefront of the IT ecosystem. The company's diverse network of over 1,500 vendor partnerships ensures that they can offer cutting-edge solutions tailored to the dynamic needs of their clients.
Recent achievements highlight ePlus's strong financial performance. For the fiscal year ending March 31, 2024, ePlus reported consolidated net sales of $2.23 billion to $2.33 billion, reflecting a significant increase driven by growth in key verticals and managed services. The company's adjusted EBITDA ranged between $200 million to $215 million. ePlus continued to expand capabilities through strategic acquisitions, such as the Network Solutions Group (NSG) and PEAK Resources, Inc., enhancing their engineering, sales, and service delivery capabilities.
ePlus's ongoing projects include the 2024 GRIT: Girls Re-Imagining Tomorrow® program, aimed at inspiring young women to pursue careers in technology. Additionally, ePlus has made significant strides in managed services, with substantial growth in Enhanced Maintenance Support, Service Desk, and Security Operations Center services.
In summary, ePlus Inc. is a trusted advisor in the IT industry, known for its relentless commitment to innovation, client service, and the ability to navigate through rapidly changing environments. With a strong balance sheet, a strategic focus on AI and cybersecurity, and a dedicated workforce, ePlus is well-positioned to continue delivering exceptional solutions and driving long-term shareholder value.
ePlus inc. (NASDAQ NGS: PLUS) has been recognized as Dell Technologies' North America Channel Services Delivery Excellence Partner of the Year and Server Excellence Partner of the Year for 2022. This accolade was awarded during the Dell Technologies World at the Global Partner Summit. The recognition highlights ePlus' exceptional performance and commitment in delivering Dell Server solutions across various sectors, including education and healthcare. With extensive expertise in cloud and data center technologies, ePlus aims to empower customers by providing tailored technology solutions.
ePlus inc. has been recognized as the 30th largest solution provider in North America on CRN's 2022 Solution Provider 500 List, highlighting the company’s significant revenue and service delivery. This ranking reflects ePlus's ability to provide advanced technology solutions in areas including security, cloud, data center, and networking, ensuring clients can leverage their technology investments. CEO Mark Marron stated that this achievement underscores the company's commitment to digital transformation and enterprise evolution, which are central to its operations.
ePlus reported strong financial results for the fourth quarter and fiscal year ended March 31, 2022. Net sales surged by 28.1% to $451.5 million, with technology segment sales up 26.4% to $419.4 million. Net earnings saw a remarkable 55.9% increase to $24.2 million, with diluted earnings per share rising 56.9% to $0.91. For the fiscal year, net sales increased 16.1% to $1.82 billion, and adjusted EBITDA rose 32.6% to $170 million. The company enters FY 2023 with a solid outlook for IT spending.
ePlus inc. (NASDAQ: PLUS) will release its earnings for the fourth quarter and fiscal year 2022 on May 25, 2022, after market close. The company will hold a conference call at 4:30 p.m. ET to discuss the financial results for the period ending March 31, 2022. Investors can access the audio webcast live and on replay through this link. A replay will be available until June 1, 2022.
ePlus inc. (NASDAQ: PLUS) has expanded its Managed Security Services portfolio to include several Fortinet solutions, such as FortiSwitch, FortiAP, FortiManager, and FortiAnalyzer. This enhancement aims to improve the efficiency and protection of clients' environments. According to Lee Waskevich, vice president of security strategy, the addition of Fortinet's offerings broadens ePlus' ability to comprehensively support customer security needs. The firm continues to focus on customized cybersecurity programs to mitigate business risks.
ePlus inc. (NASDAQ: PLUS) announced a stock repurchase program, allowing the company to buy back up to 1,000,000 shares of its outstanding common stock over a 12-month period starting May 28, 2022. As of March 23, 2022, ePlus had approximately 26.89 million shares outstanding. Repurchases may occur in the open market or through private transactions, subject to management's discretion and market conditions. The repurchased shares will be held as treasury shares for general corporate purposes.
ePlus inc. (NASDAQ: PLUS) has been recognized for the ninth consecutive year on the CRN® 2022 Tech Elite 250 list. This accolade celebrates ePlus's commitment to excellence in providing advanced technology solutions and exceptional customer service. The company boasts over 2,200 active certifications across various domains, including cloud, security, and networking. According to COO Darren Raiguel, the recognition highlights the team's dedication to continual learning and innovation. The Tech Elite 250 showcases solution providers meeting high standards of performance in the IT channel.
ePlus (NASDAQ: PLUS) announced its participation in the Sidoti & Company Small Cap Virtual Conference on March 23, 2022, at 11:30 a.m. ET. The conference is by invitation only, showcasing ePlus's role as a consultative technology solutions provider. Founded in 1990 and headquartered in Herndon, VA, ePlus focuses on enhancing technology utilization for customers across various sectors, offering services in security, cloud, and networking, among others.
ePlus inc. (NASDAQ: PLUS) has launched its 2022 GRIT: Girls Re-Imagining Tomorrow program at six schools across California, North Carolina, and Virginia. This initiative aims to inspire over 90 students in technology careers, focusing on cybersecurity and AI. The program features STEAM education, mentorship, and guest speakers, enhancing participants' skills in coding, online safety, and personal branding. The initiative underscores ePlus's commitment to closing the gender gap in tech fields.
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