Distribution Solutions Group Inc. (NASDAQ: DSGR), an MRO, OEM and industrial technologies distributor, announced its second-quarter sales for 2022 were $321.3 million, an increase of 139.5% over the second quarter of 2021. This report is the first since the merger of Lawson Products, Gexpro Services and TestEquity. Net loss was $4.7 million, in part due to merger-related costs.
Organic revenue growth was 11.8% for the period.
Lawson Products net sales were $107 million, Gexpro Services sales were $99 million, TestEquity’s sales were $97 million and all other sales were $16 million. Lawson Products results represent the period following the April 1, 2022, merger closing date.
“We are pleased with the strong results DSG is reporting for its initial quarter following the strategic combination of Lawson Products, Gexpro Services and TestEquity, and are excited about the future prospects of the combined DSG business. Each of the operating companies made significant progress giving us further confidence in our overall strategy and our teams, and raising our excitement about the future of the combined DSG business,” CEO and Chairman of the Board Bryan King said.