Distribution Solutions Group, Inc. (DSG) reported a significant increase in its financial performance for the fiscal year ending December 31, 2024, with total revenue reaching $1.804 billion, a 15% increase from $1.570 billion in 2023. The company's net loss narrowed to $7.3 million, compared to a loss of $9 million in the previous year. This improvement was primarily driven by acquisitions, which contributed approximately $268 million to revenue, although organic revenue declined by $34.5 million.
The company undertook several strategic acquisitions in 2024, including the purchase of ConRes Test Equipment for $17 million, Tech-Component Resources Pte Ltd for $5.9 million, Source Atlantic Limited for $103.1 million, S&S Automotive for $80.1 million, and Emergent Safety Supply for $9.9 million. These acquisitions were aimed at expanding DSG's product offerings and geographic footprint, particularly in the Canadian market and Southeast Asia. As of December 31, 2024, DSG served approximately 200,000 distinct customers and employed around 4,400 individuals across its various segments.
Operationally, DSG's segments showed varied performance. The Lawson segment generated $469 million in revenue, a slight increase from the previous year, while TestEquity's revenue surged by 20% to $771 million, bolstered by acquisitions. Gexpro Services reported an 8.6% increase in revenue to $440.7 million, driven by growth in the renewable energy and aerospace sectors. The Canada Branch Division saw a substantial 123.8% increase in revenue, largely due to the acquisition of Source Atlantic.
Looking ahead, DSG's management expressed optimism about future growth, emphasizing a focus on organic growth strategies and further acquisitions. The company has also amended its credit agreement to increase its borrowing capacity, which will support ongoing operational needs and potential acquisitions. However, DSG remains cautious about market conditions, including inflation and supply chain disruptions, which could impact profitability and operational efficiency.
About Distribution Solutions Group, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.