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 has announced a new stock repurchase program, allowing the company to buy back up to 1,000,000 shares of its common stock over a period of 12 months starting May 28, 2023. This program follows the expiration of the current plan on May 27, 2023, with ePlus having approximately 26.9 million shares outstanding as of April 3, 2023. The repurchased shares will be classified as treasury shares and utilized for general corporate purposes. Management retains discretion over the timing and amount of repurchases, dependent on stock price and availability.
ePlus inc. (NASDAQ: PLUS) has been honored by CRN as part of the 2023 Tech Elite 250 for the tenth consecutive year. This prestigious list recognizes solution providers in the U.S. and Canada that have achieved significant certifications and specializations from key technology vendors in the IT sector, particularly in infrastructure, cloud, and security. ePlus serves over 4,200 customers globally, leveraging its technical expertise and commitment to innovation. The company aims to assist clients in navigating complex IT environments while optimizing technology for enhanced financial outcomes.
ePlus inc. (NASDAQ: PLUS) announced its participation in the 2023 Small Cap Virtual Conference taking place on March 23, 2023. The event will feature meetings throughout the day, although no public presentations or webcasts will be available. Key representatives from ePlus, including Mark Marron (CEO) and Elaine Marion (CFO), will be attending virtually. Interested parties are encouraged to reach out to their Sidoti & Company sales representative for additional details.
ePlus leverages technology to deliver transformative business outcomes, boasting over 30 years of experience and a workforce of more than 1,700 associates worldwide.
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.
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