ePlus Reports Second Quarter and First Half Financial Results Fiscal Year 2027

(NASDAQ:PLUS) ePlus inc. reported strong financial results for the second quarter and first half of fiscal year 2027, ended September 30, 2026. Net sales for the second quarter increased 9.7% to $667.9 million, with services revenues decreasing 2.4% to $120.8 million. Gross billings for the quarter rose 4.3% to $1,066.8 million, and gross profit increased 11.2% to $180.3 million. Gross margin for the quarter was 27.0%, up from 26.6% in the prior year period. Net earnings from continuing operations for the quarter increased 5.8% to $40.4 million, and adjusted EBITDA rose 14.3% to $67.1 million. Diluted net earnings per common share from continuing operations were $1.56, with non-GAAP diluted net earnings per share at $1.82. For the first half of fiscal 2027, net sales increased 5.2% to $1,317.0 million, and services revenues were $240.2 million. Gross billings for the first half rose 2.5% to $2,023.9 million, and gross profit increased 5.0% to $331.6 million. Gross margin for the first half was 25.2%. Net earnings from continuing operations for the first half increased 0.7% to $70.7 million, and adjusted EBITDA rose 3.2% to $114.9 million. Diluted net earnings per common share from continuing operations for the first half were $2.72, with non-GAAP diluted net earnings per share at $3.11. As of September 30, 2026, cash and cash equivalents were $380.9 million, inventory was $271.4 million, accounts receivable—trade, net was $746.9 million, and total stockholders' equity was $1,096.4 million. The company acquired certain assets and liabilities of Daymark Solutions during the quarter. ePlus announced a quarterly cash dividend of $0.27 per common share, payable on December 16, 2026, to shareholders of record as of November 24, 2026. The company increased its fiscal year 2027 guidance to upper single-digit year-over-year growth for net sales and gross profit, and low double-digit growth for adjusted EBITDA. The company achieved Exclusive Ambassador Partner Status with Everpure and was named NetApp North America Flash Partner of the Year. Total shares outstanding were 26.0 million as of September 30, 2026, and 26.3 million as of March 31, 2026. The company reported no transactions for discontinued operations for the three and six months ended September 30, 2026.