Distribution Solutions Group, Inc. (NASDAQ:DSGR), Fort Worth, Texas, reported sales for the third quarter ended Sept. 30, 2023, were $438.9 million, up 26.4% from the prior-year period. That increase includes $106.3 million in revenue from 2022 and 2023 acquisitions.
The third-quarter results included a full quarter of Hisco results, acquired in June.
Consolidated organic revenue declined 4.2% for the quarter, primarily driven by softness in the Industrial Technologies (TestEquity) vertical.
The distributor reported a $1.6 million loss for the quarter.
For the first nine months of 2023, sales were $1.16 billion, up from $822 million in the prior-year period. Profit was $9.2 million.