Distribution Solutions Group, Inc. (NASDAQ: DSGR), a specialty distributor providing high-touch, value-added distribution solutions to the maintenance, repair and operations (MRO), original equipment manufacturer (OEM) and industrial technologies markets, reported sales for the full year 2022 were $1.2 billion.
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The full-year sales can’t be compared on a year-over-year basis because Distribution Solutions Group was formed from the combination of TestEquity, Gexpro Services and Lawson Products in April 2022.
Fourth quarter 2022 sales for the period ended Dec. 31, 2022, were $329 million. Organic sales growth for the quarter was 17%.
“We are pleased with fourth-quarter results that exceeded expectations,” said Bryan King, CEO and Chairman of the Board. “Our continued topline growth and sequential improvement in margins further support our strategic decision to combine Lawson Products, Gexpro Services and TestEquity.
“While macroeconomic uncertainties remain, we are laser-focused on driving greater returns on cash flow through a combination of organic growth, strategic acquisitions and operational efficiencies. We believe that our disciplined approach to capital allocation through our asset light model, coupled with our strengthening balance sheet, positions us to further generate meaningful returns and cash flow in 2023.”