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: PLUS) announced a significant increase to its credit facility, raising the amount from $425 million to $500 million. Additionally, the revolving credit facility limit has been raised from $150 million to $200 million. This expanded financing capacity will enable ePlus to enhance its technology and IT services, particularly in areas like digital transformation and cloud solutions. The company expresses gratitude for the support from its lenders, including the addition of two new banks to its financing arrangement.
ePlus inc. (NASDAQ: PLUS) will participate in the 7th Annual Tech Innovators Conference hosted by William Blair on March 14, 2023, with virtual 1-on-1 meetings scheduled throughout the day. This event will not feature any public presentations or webcasts. Key executives participating include CEO Mark Marron and CFO Elaine Marion. Interested parties are encouraged to reach out to their William Blair sales representative for further details and meeting arrangements. ePlus focuses on leveraging technology to deliver transformative business outcomes, backed by over 30 years of industry expertise.
ePlus (NASDAQ: PLUS) announced the launch of its new ePlus Automated Virtual Assistant (AVA) for Collaboration Spaces on March 7, 2023. This innovative solution uses robotic process automation to enhance the user experience in video-enabled conference rooms. Key features include pre-meeting endpoint functionality assurance, synthetic testing of collaboration components, automated help ticketing, and streamlined reporting for real-time insights. By improving operational efficiency, ePlus AVA aims to reduce meeting delays by 50% for its customers and increase the return on investment in collaboration technology. The service supports various meeting platforms, with plans for future expansion.
ePlus inc. (NASDAQ: PLUS) has been named to CRN's Managed Service Provider (MSP) 500 list in the Elite 150 category for the sixth year in a row. This recognition highlights ePlus's leadership in providing innovative managed services that enhance efficiency and ROI for clients across North America. The company’s services include cloud hosting, managed security, and infrastructure support. With over 20 years of experience, ePlus continues to adapt to client needs, ensuring 24/7 support. The 2023 MSP list will be published in the February issue of CRN and online.
On February 13, 2023, ePlus inc. (NASDAQ: PLUS) announced advancements in its Cloud Disaster Recovery and Cloud Hosted Infrastructure services, enhancing cloud adoption for organizations. The new offerings utilize VMware Cloud on AWS, featuring custom offsite replication with ransomware detection, and a familiar environment for workload migration. These solutions are designed to reduce capital expenses through consumption-based pricing, aligning with ePlus's strategy to extend data centers into the cloud. This initiative supports clients in modernizing applications efficiently while leveraging expert services from ePlus and VMware.
ePlus inc. (NASDAQ: PLUS) reported a strong third quarter for fiscal year 2023, with net sales rising 26.0% to $623.5 million and technology segment sales increasing 28.3% to $611.8 million. Net earnings surged 35.1% to $35.7 million, while diluted EPS increased 36.7% to $1.34.
For the first nine months, net sales were up 15.0% to $1,575.5 million, with net earnings rising 6.3% to $86.5 million. Consolidated gross margin decreased to 24.4%, reflecting higher service costs.
ePlus inc. (NASDAQ: PLUS) will announce its earnings on February 7, 2023, detailing results for the three and nine months ended December 31, 2022. The earnings release will occur after market closure, followed by a conference call at 4:30 p.m. ET. Interested parties can access the audio webcast at this link. The conference call will cover key financial metrics, and a replay will be available post-event until February 14, 2023.
ePlus inc. (NASDAQ: PLUS) has been awarded the Palo Alto Networks 2022 Americas Social Impact Award during the Ignite '22 Executive Partner Summit. This recognition honors partners making significant social contributions. ePlus emphasizes corporate social responsibility, focusing on cybersecurity workforce development, mentorship, and community support. The award highlights ePlus's commitment to enhancing security for customers and communities.
In the last 12 months, ePlus has engaged in various initiatives to promote a safer digital experience, aligning with Palo Alto Networks to meet evolving security challenges.
ePlus inc. (NASDAQ: PLUS) announced the launch of ePlus Storage-as-a-Service powered by Pure Storage Evergreen//One™ on January 5, 2023. This service aims to enhance enterprise storage solutions with flexible subscription models, technical support, and customer success resources. Key features include expedited issue resolution, improved capacity planning insights, a consumption-based utility model, and on-demand burst capacity. This offering allows customers to manage their data center infrastructure efficiently while minimizing upfront costs and risks associated with data center capacity planning.
ePlus inc. (NASDAQ: PLUS) received multiple accolades from Nutanix, including the 2022 Global Reseller of the Year and Americas Reseller of the Year Awards. These honors highlight ePlus's expertise in the Nutanix Cloud Platform and its commitment to assisting clients in modernizing their infrastructures. The company emphasizes its role as a trusted advisor, helping customers maximize their investment through training and support. Nutanix praised ePlus for its customer-centric approach and technical proficiency, underscoring its importance as a partner in advancing hybrid multicloud solutions.
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