EPLUS INC. Files Q2 2024 10-Q Report

TL;DR

EPLUS INC. 10-Q filed. Q2 & YTD financials out. Check it.

AI Summary

EPLUS INC. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the second quarter and the first six months of its fiscal year. Specific financial figures and operational details are provided within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for EPLUS INC., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information and risk factors that could impact the company's performance.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20241112 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• EPLUS INC. (company) — Filer of the 10-Q
• 20240930 (date) — End of reporting period
• 20241112 (date) — Filing date
• 0001022408 (company) — Central Index Key for EPLUS INC.

FAQ

Filing Documents

• ef20034571_10q.htm (10-Q) — 3049KB
• ef20034571_ex10-2.htm (EX-10.2) — 9KB
• ef20034571_ex10-3.htm (EX-10.3) — 16KB
• ef20034571_ex31-1.htm (EX-31.1) — 11KB
• ef20034571_ex31-2.htm (EX-31.2) — 11KB
• ef20034571_32.htm (EX-32) — 6KB
• image00001.jpg (GRAPHIC) — 2KB
• 0001140361-24-046230.txt ( ) — 13077KB
• plus-20240930.xsd (EX-101.SCH) — 50KB
• plus-20240930_cal.xml (EX-101.CAL) — 72KB
• plus-20240930_def.xml (EX-101.DEF) — 312KB
• plus-20240930_lab.xml (EX-101.LAB) — 718KB
• plus-20240930_pre.xml (EX-101.PRE) — 469KB
• ef20034571_10q_htm.xml (XML) — 3156KB

Financial Information

Part I. Financial Information: Item 1.

Financial Statements

Financial Statements Unaudited Consolidated Balance Sheets as of September 30, 2024, and March 31, 2024 5 Unaudited Consolidated Statements of Operations for the Three and Six Months Ended September 30, 2024, and 2023 6 Unaudited Consolidated Statements of Comprehensive Income for the Three and Six Months Ended September 30, 2024, and 2023 7 Unaudited Consolidated Statements of Cash Flows for the Six Months Ended September 30, 2024, and 2023 8 Unaudited Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended September 30, 2024, and 2023 10 Notes to Unaudited Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 45 Item 4.

Controls and Procedures

Controls and Procedures 46

Other Information

Part II. Other Information: Item 1.

Legal Proceedings

Legal Proceedings 46 Item 1A.

Risk Factors

Risk Factors 46 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 46 Item 3. Defaults Upon Senior Securities 47 Item 4. Mine Safety Disclosures 47 Item 5. Other Information 47 Item 6. Exhibits 47

Signatures

Signatures 49 2 Table of Contents CAUTIONARY LANGUAGE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains certain statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or "Exchange Act," and are made in reliance upon the protections provided by such acts for forward-looking statements. Such statements are not based on historical fact but are based upon numerous assumptions about future conditions that may not occur. Forward-looking statements are generally identifiable by use of forward-looking words such as "may," "should," "would," "intend," "estimate," "will," "potential," "possible," "could," "believe," "expect," "intend," "plan," "anticipate," "project," and similar expressions. Readers are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf. Forward-looking statements are made based upon information that is currently available or management's current expectations and beliefs concerning future developments and their potential effects upon us, speak only as of the date hereof, and are subject to certain risks and uncertainties. We do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur, or of which we later become aware. Actual events, transactions and results may materially differ from the anticipated events, transactions, or results described in such statements. Our ability to consummate such transactions and achieve such events or results is subject to certain risks and uncertainties. Such risks and uncertainties include, but are not limited to, the matters set forth below: exposure to fluctuation in foreign currency rates, interest rates, and inflation, including as a result of national and international political instab

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements e Plus inc. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) September 30, 2024 March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 187,528 $ 253,021 Accounts receivable—trade, net 587,998 644,616 Accounts receivable—other, net 76,102 46,884 Inventories 93,857 139,690 Financing receivables—net, current 136,357 102,600 Deferred costs 61,874 59,449 Other current assets 58,663 27,269 Total current assets 1,202,379 1,273,529 Financing receivables and operating leases—net 90,561 79,435 Deferred tax asset 5,633 5,620 Property, equipment, and other assets—net 104,081 89,289 Goodwill 203,233 161,503 Other intangible assets—net 94,167 44,093 TOTAL ASSETS $ 1,700,054 $ 1,653,469 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current liabilities: Accounts payable $ 281,927 $ 315,676 Accounts payable—floor plan 115,660 105,104 Salaries and commissions payable 45,163 43,696 Deferred revenue 143,334 134,596 Non-recourse notes payable—current 28,970 23,288 Other current liabilities 34,868 34,630 Total current liabilities 649,922 656,990 Non-recourse notes payable—long-term 9,723 12,901 Other liabilities 93,412 81,799 TOTAL LIABILITIES 753,057 751,690 COMMITMENTS AND CONTINGENCIES ( Note 10 ) STOCKHOLDERS' EQUITY Preferred stock, $ 0.01 per share par value; 2,000 shares authorized; none outstanding - - Common stock, $ 0.01 per share par value; 50,000 shares authorized; 26,798 outstanding at September 30 , 2024 , and 26,952 outstanding at March 31 , 2024 276 274 Additional paid-in capital 187,330 180,058 Treasury stock, at cost, 750 shares at September 30 , 2024 , and 447 shares at March 31 , 2024 ( 47,461 ) ( 23,811 ) Retained earnings 801,627 742,978 Accumulated other comprehensive income—foreign currency translation adjustment

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View this 10-Q filing on SEC EDGAR