ePlus Q4 net sales up 12.7% but net earnings down 33%; repurchases up to 1.25M shares

EPLUS INC

2024-FY EPS reported $4.33 revenue$2,225,302,000

Q4 net sales $554.5M (+12.7% YoY); net earnings $22.0M (-33.1%); diluted EPS $0.82 vs $1.23.
Product gross margin fell to 19.3% from 23.8% on higher enterprise sales; services margins improved.
FY2024 net sales $2.225B (+7.6%); net earnings $115.8M (-3.0%); diluted EPS $4.33 vs $4.48.
FY2025 guidance: net sales growth 3-6%; adjusted EBITDA $200M-$215M.
Board authorized repurchase of up to 1.25M shares over 12 months beginning May 28, 2024.

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