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) announced it received the Cisco® Partner Summit Geographical Region award for Social Impact Partner of the Year during a digital event. This award recognizes a partner demonstrating a commitment to corporate social responsibility, including impactful community engagement. ePlus was highlighted for its collaboration with Rowan University to implement a cloud-based contact center for COVID vaccine distribution and its Girls Re-Imagining Tomorrow (GRIT) program for mentoring middle school girls in technology careers.
ePlus inc. (NASDAQ: PLUS) announced the launch of its READI networking strategy aimed at helping organizations modernize their enterprise network infrastructures. The READI methodology—Resilient, Efficient, Agile, Defensive, Intelligent—focuses on creating robust network architectures to meet modern demands driven by remote work, cloud workloads, and digital applications. ePlus offers a READI Network Assessment using automated tools to evaluate network operational states and support companies in their modernization efforts.
ePlus (NASDAQ NGS: PLUS) announced on Nov. 18, 2021, that it has achieved the Cloud Management and Automation VMware Master Services Competency. This recognition showcases ePlus's commitment to empowering organizations in their digital transformation journeys through advanced VMware technologies.
Justin Mescher, vice president of Cloud and Data Center Solutions at ePlus, emphasized that automation and simplified management are vital for customers transitioning to the cloud. VMware recognized ePlus for its expertise and dedication to delivering customer-centric solutions.
ePlus inc. (NASDAQ: PLUS) reported strong financial results for Q2 FY2022, with net sales rising 5.8% to $458 million and net earnings increasing 58.3% to $31.4 million. Key metrics include a 24.3% rise in gross profit, reaching $123 million, and adjusted EBITDA up 49.6% to $50.2 million. The technology segment's sales grew 4% to $436.3 million, while service revenues surged 23.1% to $60.9 million. A 2-for-1 stock split was also announced, expected to take effect on December 14, 2021, reflecting confidence in future growth.
ePlus inc. (NASDAQ: PLUS) announced a successful collaboration with Houston Habitat for Humanity to build two homes in Houston, Texas. This initiative marks the second partnership with Habitat for Humanity, following a previous project in Loudoun County, Virginia. The build, originally scheduled for Fall 2020, was postponed due to the pandemic and completed on October 21, 2021. Employees participated in activities such as building and raising walls. CEO Mark Marron emphasized ePlus's commitment to community engagement, while Houston Habitat thanked ePlus for its support in addressing homelessness.
ePlus inc. (NASDAQ: PLUS) will announce its earnings for the second quarter and six months ended September 30, 2021, on November 9, 2021, after market close. Management will host a conference call at 4:30 p.m. ET to discuss the results. A replay of the call will be available approximately two hours later until November 16, 2021. ePlus is a technology solutions provider with expertise in various IT areas, serving customers in the U.S., Europe, and Asia-Pac.
ePlus inc. announced on Oct. 26, 2021, that its subsidiary IGXGlobal UK Limited has expanded its Security Services portfolio by introducing a Managed Detection and Response (MDR) offering. This new service is designed to bolster cyber defenses for clients across Europe, providing 24/7 security monitoring, alerting, threat detection, and incident management. The initiative aims to address the growing cyber skills gap and budget constraints faced by organizations. IGXGlobal will collaborate with Proficio to enhance its MDR technology in key European markets.
ePlus (NASDAQ: PLUS) has launched a suite of Cyber Services to assist organizations with compliance to stringent cyber liability insurance standards. Announced during National Cyber Security Awareness Month, these services aim to fill security gaps that could affect insurability or premium costs. Key offerings include Cyber Insurance Consulting, Ransomware Preparedness Assessment, Incident Response Services, Cloud Managed Backup, and Managed Security Services. As ransomware claims account for 75% of cyber insurance filings, ePlus' services help clients better prepare and qualify for coverage while managing rising premiums, which have surged 30-50% recently.
ePlus inc. (NASDAQ: PLUS) announced the amendment and restatement of its credit agreements with Wells Fargo, increasing its credit facility from $275 million to $375 million. The new facility, managed by a bank syndicate, includes a $100 million revolving credit sublimit and is based on a borrowing base determined by accounts receivable and inventory. The facility has an initial one-year term with automatic renewals. CFO Elaine Marion stated that this facility supports the company's growth and customer service.
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