ePlus inc. (NASDAQ:PLUS) Q3 2024 Earnings Conference Call February 6, 2024 4:30 PM ET

Company Participants

Erica Stoecker - General Counsel

Mark Marron - Director, President & Chief Executive Officer

Elaine Marion - Chief Financial Officer

Conference Call Participants

Maggie Nolan - William Blair

Matt Sheerin - Stifel

Greg Burns - Sidoti

Operator

Good day, ladies and gentlemen. Welcome to the ePlus Earnings Results Conference Call. As a reminder, this conference call is being recorded.

I would like to introduce your host for today's conference Ms. Erica Stoecker, General Counsel. Ma'am, you may begin.

Erica Stoecker

Thank you for joining us today. On the call is Mark Marron, CEO and President; Darren Raiguel, Chief Operating Officer and President of ePlus Technology; and Elaine Marion, Chief Financial Officer.

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 and our periodic filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K, quarterly report on Form 10-Q and other documents that we filed with the SEC, including the Form 8-K we filed on October 6, 2023 recasting certain disclosures in our most recent annual report.

Any forward-looking statements speaks only as of the date of 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 now like to turn the call over to Mark Marron. Mark?

Mark Marron

Thank you, Erica and thank you everyone for participating in today's call to discuss our third quarter fiscal 2024 results. Our year-to-date performance has been solid with net sales growth of 6% outpacing the industry and our peers. Customers' adoption of digital transformation technologies, security solutions and IT infrastructure to support AI remain strong.

Quarter-to-quarter top-line performance has been more variable than in prior years mostly due to supply chain fluctuations, which affected both customer behavior as well as our ability to ship equipment.