ePlus Inc. (NASDAQ:PLUS) Q1 2024 Earnings Conference Call August 7, 2023 4:30 PM ET
Company Participants
Kley Parkhurst - Senior Vice President
Mark Marron - Chief Executive Officer & President
Elaine Marion - Chief Financial Officer
Conference Call Participants
Jesse Wilson - William Blair
Greg Burns - Sidoti
Matthew Sheerin - Stifel
Operator
Good day, everyone, and welcome to the ePlus Earnings Release Conference Call. At this time, all participants are in a listen-only mode and later we will take your questions.
I would now like to hand the call over to Mr. Kley Parkhurst. Please go ahead.
Kley Parkhurst
Thank you for joining us today. On the call is Mark Marron, CEO and President; Darren Raiguel, COO and President of ePlus Technology; Elaine Marion, CFO; and Erica Stoecker, General Counsel.
I want to take a moment to remind you that the statements we make this afternoon that are not historical facts may be deemed to be forward-looking statements and are based on management's current plans, estimates and projections. Actual and anticipated future results may vary materially due to certain risks and uncertainties detailed in the earnings release we issued this afternoon in our periodic filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K, quarterly reports on Form 10-Q and in other documents that we may file with the SEC. Any forward-looking statement speaks only as of the date on which the statement is made and the Company undertakes no responsibility to update any of these forward-looking statements in light of new information, future events or otherwise.
In addition, we will be using certain non-GAAP measures during the call. We have included a GAAP financial reconciliation in our earnings release, which is posted on the Investor Information section of our website at www.eplus.com.
I'd like to turn the call over to Mark Marron. Mark?
Mark Marron
Thank you, Kley. And thank you, everyone, for participating in today's call to discuss our first quarter fiscal 2024 results. I will start with some key takeaways. ePlus delivered strong results in the first quarter, marking a great start to our fiscal year. Double-digit sales growth was driven by solid execution, our land and expand strategy, supply chain improvements and contributions from acquisitions, our team performed at a high level, executing consistently across all end markets. Our net sales growth of 25%, along with our scalable operating platform and disciplined cost management drove significant operating leverage.