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.
On December 14, 2022, ePlus inc. (NASDAQ: PLUS) announced an expansion of its holiday campaign to support children in four hospitals across California, New York, Texas, and Virginia. The initiative includes virtual Santa experiences, streaming into over 200 patient rooms, and the distribution of holiday gifts like toys, books, and blankets. ePlus is also facilitating a national toy drive and providing gift cards to patient families. CEO Mark Marron emphasized the importance of giving back to the community during the holiday season.
ePlus inc. (NASDAQ: PLUS) has successfully earned multiple attestations for its Managed Services Center, Service Desk, and Cloud Hosted Services. The company achieved the Type 2 SSAE 18 (SOC 1) examination and the Type 2 SSAE 18 (SOC 2) examination, ensuring effective controls over security, availability, and confidentiality. Additionally, ePlus completed an attestation related to its Information Security Program under HIPAA and HITECH. These attestations cover the period from August 1, 2021, to July 31, 2022, affirming ePlus's commitment to operational excellence and customer service.
ePlus inc. (NASDAQ: PLUS) has received four significant awards at the Cisco Partner Summit, including U.S. Partner of the Year and Global Marketing Partner of the Year. The awards recognize ePlus's innovation and successful sales strategies that drive substantial customer outcomes. Cisco's executives praised ePlus for its customer focus and commitment to excellence in the evolving digital landscape. The recognition includes the Americas Marketing Partner of the Year and Enterprise Networking Partner of the Year for the U.S. East Region, highlighting ePlus's impactful contributions.
ePlus inc. (NASDAQ: PLUS) reported a strong second quarter for fiscal year 2023, with net sales rising 7.8% to $493.7 million and technology segment sales increasing 8.1%. Service revenues grew 7.1% to $65.2 million. Adjusted gross billings surged 15.3% to $765.8 million, while consolidated gross profit grew 8.4% to $133.3 million, with a gross margin of 27.0%. Despite this growth, net earnings decreased 9.4% to $28.5 million, and diluted earnings per share fell 8.5% to $1.07.
ePlus inc. (NASDAQ: PLUS) has become the first North American partner qualified in Cisco's Partner Lifecycle Services Support (PLS-S) program. The newly launched ePlus Lifecycle Services Support (eLSS) aims to streamline technical support for Cisco and adjacent technologies by providing centralized first-call support. Customers can expect faster resolution times and predictable costs. ePlus has developed this co-delivered model to address shifts in technology consumption and support, enhancing its existing services portfolio, which includes managed services and device-level support.
ePlus inc. (NASDAQ: PLUS) announced an increase in its credit facility from $375 million to $425 million, enhancing its working capital financing capacity. The credit agreement now allows a senior secured revolving credit facility of $150 million, up from $100 million. Additionally, all loans have transitioned from a LIBOR rate to a Term SOFR rate. CFO Elaine Marion expressed confidence that these financial adjustments will support customers' digital transformation initiatives across various technology solutions.
On October 28, 2022, ePlus inc. (NASDAQ: PLUS) announced that its CFO, Elaine Marion, received the 2022 Distinguished Alumni Award from the George Mason University School of Business. This award recognizes professional achievement across sectors. Dean Ajay Vinzé praised Marion's commitment to the community and technology sector. Marion expressed gratitude for her education and commitment to the university's future. ePlus continues to focus on leveraging technology for transformative business outcomes.
ePlus inc. (NASDAQ: PLUS) announced it will release earnings on November 3, 2022, after market close. The earnings will cover the financial results for the three and six months ended September 30, 2022. Following the release, a conference call and audio webcast will take place at 4:30 p.m. ET. Investors can access the call via a toll-free number or through a provided audio webcast link. A replay will be available for approximately two weeks after the call.
On October 25, 2022, ePlus inc. (NASDAQ: PLUS) announced its collaboration with Habitat for Humanity of Greater Sacramento, marking its renewed involvement in affordable housing projects since their initial partnership in 2018. A team of volunteers from ePlus contributed to the first of two home builds, benefiting over 60 low-income individuals. The next engagement is scheduled for 2023. ePlus continues to support community initiatives aimed at providing housing solutions, reflecting its commitment to social responsibility.
ePlus inc. has appointed Renée Bergeron, Chief Operating Officer of AppDirect, to its Board of Directors, filling a newly-created independent director seat. This addition is expected to enhance ePlus's strategic focus in areas like security and cloud services. CEO Mark Marron highlighted Bergeron’s extensive experience, believing her insights will strengthen the company’s position as a customer-centric partner. With over 30 years in technology solutions, ePlus aims to continue leading in providing transformative business outcomes.
FAQ
What is the current stock price of ePlus (PLUS)?
What is the market cap of ePlus (PLUS)?
What services does ePlus Inc. provide?
Where is ePlus Inc. headquartered?
Which markets does ePlus serve?
What are some recent achievements of ePlus Inc.?
What is the focus of ePlus's managed services?
How does ePlus leverage partnerships?
What are ePlus’s future financial expectations?
What initiatives does ePlus have for promoting diversity?
How does ePlus support its clients during challenging times?
What is ePlus's approach to innovation?
