Why ePlus Stock Plunged 28% on Wednesday [Yahoo! Finance]
ePlus inc. (PLUS)
Last eplus inc. earnings: 2/5 04:05 pm
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US:NASDAQ Investor Relations:
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Source: Yahoo! Finance
Shares closed the day down 13%. From bad to worse Quarterly sales fell 18.4% to $509.1 million, and technology gross billings fell 11.3% to $797 million. Gross profit fell 3.3% to $133.8 million as margins improved from 22.2% a year ago to 26.3%. Net income was down 23.6% to $27.3 million, and earnings per share fell a similar amount to $1.02. On a non-GAAP (generally accepted accounting principles) basis, earnings were $1.18 per share. Management said technology business demand slowed as larger customers focused on completing previously delayed projects and sales cycle times lengthened. But backlog improved later in the quarter, and management thinks they'll still hit the low end of fiscal 2024 financial guidance. That guidance is for revenue of $2.23 billion to $2.33 billion and adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) of $200 million to $215 million. The macro environment is getting tough After years of IT spending during the
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News
- ePlus Announces Fourth Quarter and Fiscal Year 2024 Earnings Release Date and Conference Call [Yahoo! Finance]Yahoo! Finance
- ePlus Announces Fourth Quarter and Fiscal Year 2024 Earnings Release Date and Conference CallPR Newswire
- ePlus Honored as Growth Partner of the Year by VaronisPR Newswire
- Binary Defense Named as New Tier 2 Managed Detection and Response Partner for ePlus [Yahoo! Finance]Yahoo! Finance
- Binary Defense Named as New Tier 2 Managed Detection and Response Partner for ePlusPR Newswire
PLUS
Earnings
- 2/6/24 - Miss
PLUS
Analyst Actions
- 4/15/24 - Stifel
PLUS
Sec Filings
- 5/2/24 - Form SC
- 4/3/24 - Form 4
- 3/28/24 - Form 8-K
- PLUS's page on the SEC website