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. provides technology solutions and services for organizations across security, cloud, data center, networking, collaboration, artificial intelligence, service provider and critical infrastructure environments. Company news commonly covers earnings releases, guidance, dividends, service launches and customer-facing offerings tied to IT modernization and infrastructure capacity.
Updates also include managed and professional services activity, channel certifications and industry recognition, governance changes, and developments at Bailiwick Services, an ePlus Technology subsidiary focused on managed IT services, technology deployment and digital lock technology for retail use cases.
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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