Welcome to our dedicated page for Eplus news (Ticker: PLUS), a resource for investors and traders seeking the latest updates and insights on Eplus stock.
ePlus inc. (NASDAQ: PLUS) generates a steady flow of news as a services-led technology company focused on artificial intelligence, security, cloud and data center, networking, and collaboration solutions. Its announcements often highlight financial results, strategic transactions, technology expansions, and recognition from industry partners and organizations.
Investors following PLUS news will find regular earnings releases and related conference call information, where ePlus discusses quarterly and half-year financial performance, guidance updates, and commentary on trends across its product, professional services, and managed services segments. The company also reports on corporate actions such as the declaration of quarterly cash dividends and stock repurchase authorizations.
Company news also covers strategic moves, including the sale of its domestic financing business and acquisitions that enhance its technology capabilities. For example, ePlus disclosed the acquisition of substantially all operating assets of Realwave, Inc., adding cloud-based, AI-powered automated data analysis that can integrate with data sources such as video systems, IoT devices, sensors, and digital locks. Updates on subsidiaries like Bailiwick Services, LLC, including its selection for the National Retail Federation Big Show Innovators Showcase to spotlight digital lock technology, provide additional insight into specialized offerings within the ePlus family.
Other PLUS headlines feature partnership expansions and managed services developments, such as extended managed services and enhanced maintenance support portfolios for Juniper Networks infrastructure, as well as awards and leadership recognition in the technology channel. Governance and investor-relations items, including board appointments and annual meeting voting results, also appear in the news flow.
By reviewing the PLUS news page, readers can track how ePlus communicates its progress in AI, security, cloud, networking, and services, along with financial milestones and corporate developments. This makes the news feed a useful resource for understanding both the operational and strategic direction of ePlus over time.
ePlus has been named Juniper Networks' 2023 Partner of the Year for Cloud Ready Data Center in both Worldwide and Americas categories. This recognition highlights ePlus' expertise in creating modernized data centers and automated cloud-based network solutions using Juniper's AI-Native technologies. The award is part of the Juniper Partner Advantage Program, which honors partners for their innovative solutions and exceptional customer experiences. Juniper's GVP, Gordon Mackintosh, praised ePlus for their dedication to advancing network solutions, while ePlus' president, Ken Farber, emphasized the importance of their partnership with Juniper in driving cloud infrastructure innovation.
ePlus has launched Azure Recover, a fully-managed Disaster Recovery-as-a-Service (DRaaS) solution powered by Azure Site Recovery. Announced on June 26, 2024, this service aims to protect critical workloads across on-premises, Azure, and other cloud environments. Key features of Azure Recover include fully-automated monthly testing, failover event support, and continuous recovery validation. According to Justin Mescher, VP of AI, cloud, and data center solutions at ePlus, this new service will help organizations reduce recovery time objectives, maintain compliance, and ensure business continuity during unforeseen events. For more information, visit their official webpage.
On June 11, 2024, ePlus announced it received the Lenovo U.S. Infrastructure Solutions Group (ISG) Partner of the Year Award at Lenovo's Accelerate Express '24 event. This award recognizes partners for their year-on-year growth, engagement, certifications, and contributions to community and culture. ePlus was honored for its ability to help customers innovate data centers using Lenovo's servers, storage, and networking solutions. Lenovo senior director Stacey Goodman highlighted ePlus's role as a trusted advisor and its expertise in Lenovo technology. ePlus COO Darren Raiguel emphasized the importance of strong industry partnerships in the AI-driven technology landscape.
ePlus has been ranked number 26 on CRN's 2024 Solution Provider 500 list, climbing two spots from the previous year. This annual list identifies North America's largest solution providers by revenue, with this year's companies representing a combined revenue of over $501.2 billion. ePlus, known for its expertise in AI, Data Center, Cloud, Security, Networking, and Collaboration, partners with leading technology vendors to offer comprehensive technology solutions. CEO Mark Marron attributes this achievement to the company's extensive technical capabilities and over 30 years of industry experience. CRN's list highlights companies demonstrating business agility and innovation amid rapid IT channel changes.
ePlus reported financial results for Q4 and fiscal year 2024, noting a 12.7% increase in net sales to $554.5 million and a 12.6% rise in technology business sales. However, the company saw a 33.1% drop in net earnings to $22 million and a 24.4% decrease in adjusted EBITDA to $36.8 million.
Annual net sales grew 7.6% to $2.225 billion, with a 6.4% rise in consolidated gross profit to $550.8 million. Despite revenue growth, net earnings fell 3% to $115.8 million, and adjusted EBITDA slightly decreased. The company announced a new share repurchase plan to buy back up to 1.25 million shares.
ePlus highlighted a strong cash position of $253 million and outlined guidance for 2025, projecting 3-6% revenue growth and $200-$215 million in adjusted EBITDA.
ePlus (NASDAQ: PLUS) announced that it will release its earnings report for Q4 and the fiscal year ending March 31, 2024, on May 22, 2024, after the market closes.
The company will host a conference call and audio webcast at 4:30 p.m. ET on the same day to discuss the financial results. The live call is accessible via domestic and international numbers, with a replay available until May 29, 2024.
ePlus Inc. has been recognized as Growth Partner of the Year by Varonis for its expertise in leveraging Varonis technology to enhance data security and combat cyber threats. ePlus' Compromise Nothing initiative, in collaboration with Varonis, helps organizations improve data governance in modern IT environments.
ePlus Inc. announced Binary Defense as a new Tier 2 Managed Detection and Response partner, offering customized security solutions with accelerated detection, investigation, and response capabilities. Binary Defense's industry recognition and expertise aim to enhance customers' security posture through the collaboration.
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