Descartes 1Q Revenue Tops $116M for FY '23 - Modern Distribution Management

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Descartes 1Q Revenue Tops $116M for FY ’23

The Ontario, Canada-based logistics provider says fiscal 2023 1Q revenue was up 18% from the previous-year quarter.
In the latest earnings reporting p

Descartes Systems Group Inc., (TSX:DSG) (Nasdaq:DSGX) of Waterloo, Ontario, reported fiscal 2023 first-quarter revenues of $116.4 million, up 18% from $98.8 million in the first quarter of fiscal 2022 and up 4% from $112.4 million in FY 2022’s fourth quarter.

“Global supply chains continue to be impacted by a combination of issues stemming from the ongoing pandemic, geopolitical events and the current economic environment,” said Edward J. Ryan, Descartes’ CEO. “It’s more important than ever for supply chain constituents to share, access and process information from multiple sources in real-time to help get the right goods in the right place at the right time. Our Global Logistics Network (GLN) is designed to do just that, helping shippers, carriers, and logistics services providers connect and collaborate to plan and execute shipments in an efficient and sustainable manner. We continue to see growth from existing customers and new participants on our network as we add more solutions to the GLN.”

Income from operations in FY 2023’s 1Q was $30.6 million, up 31% from $23.4 million in same quarter last year and up 18% from $26 million in FY 2022’s 4Q.

Earnings per share on a diluted basis were $0.27, up 29% from $0.21 in the same quarter last year and up 23% from the end of FY 2022.

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