Distribution Solutions Group Inc. (DSG) (NASDAQ: DSGR), Fort Worth, Texas, reported sales for the first quarter ended March 31, 2024, were $416.1 million, up 19.5% from the prior-year period. That increase includes $99.2 million in revenue from 2023 and 2024 acquisitions.
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Sales grew 2.7% over the fourth quarter of 2023. Two-year organic revenue grew by 4.7% despite softness in the technology and renewables markets and DSG’s industrial test and measurement business.
DSG completed the acquisition of Emergent Safety Supply in January 2024 to expand its safety product category. They also announced the acquisition of S&S Automotive, which has annual revenues of $40 million.
“We are actively working our pipeline of acquisition targets, incremental margin enhancement initiatives and cost savings — and expect sequential margin improvements as 2024 develops. Our asset-light business model, combined with our focus on growing operating cash flows and accelerating returns on invested capital, positions us well to maximize long-term shareholder value,” said Bryan King, DSG’s CEO.
