Filing Flows › Distribution Solutions Group (DSGR) › Q2 2026 › vs Q1 2026
Distribution Solutions Group (DSGR) Q2 2026 vs Q1 2026 (quarter over quarter)
Distribution Solutions Group's revenue rose $61.7M (+12%) from $496M in Q1 2026 to $558M in Q2 2026. The biggest changes: TestEquity +$25.2M (+12%); Gexpro Services +$22.2M (+19%); Canada Branch Division +$12.7M (+25%). Gross margin 32.3% against 32.9% (-0.6 pts).
Distribution Solutions Group, Q2 2026: revenue $558M (+11% year over year), operating margin 5.0%, net earnings $8.5M, operating cash flow $22.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 32.3% | 32.9% | -0.6 pts |
| Operating margin | 5.0% | 2.7% | +2.2 pts |
| Net margin | 1.5% | 0.1% | +1.4 pts |
| Free cash flow margin | 2.9% | -4.8% | +7.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| TestEquity | $229M | $204M | $25.2M | +12% |
| Gexpro Services | $140M | $118M | $22.2M | +19% |
| Lawson | $125M | $124M | $1.7M | +1% |
| Canada Branch Division | $63.7M | $51.0M | $12.7M | +25% |
| Revenue | $558M | $496M | $61.7M | +12% |
| Gross profit | $180M | $163M | $16.8M | +10% |
| Cost of revenue | $378M | $333M | $44.9M | +14% |
| Operating profit | $27.9M | $13.6M | $14.2M | +104% |
| Operating expenses | $152M | $150M | $2.6M | +2% |
| Pre-tax earnings | $14.4M | $757K | $13.6M | 19× |
| Other expense, net | $13.5M | $12.9M | $604K | +5% |
| Net earnings | $8.5M | $382K | $8.1M | 22× |
| Income tax | $5.9M | $375K | $5.5M | 16× |
| Operating cash sources | $30.6M | $22.5M | $8.1M | +36% |
| Depreciation & amortization | $19.9M | $19.7M | $141K | +0.7% |
| Share-based compensation | $2.2M | $2.4M | −$200K | -8% |
| Working capital & other | $8.6M | $42.9M | −$34.3M | -80% |
| Operating cash flow | $22.0M | −$20.4M | $42.3M | — |
| Free cash flow (OCF − capex) | $16.4M | −$23.7M | $40.2M | — |
| Capital expenditures | $5.5M | $3.4M | $2.2M | +65% |
Questions
How much did Distribution Solutions Group's revenue grow quarter over quarter in Q2 2026?
Distribution Solutions Group's revenue rose $61.7M (+12%) from $496M in Q1 2026 to $558M in Q2 2026.
What drove Distribution Solutions Group's revenue change in Q2 2026?
TestEquity +$25.2M (+12%); Gexpro Services +$22.2M (+19%); Canada Branch Division +$12.7M (+25%).