Filing Flows › Distribution Solutions Group (DSGR) › Q2 2026 › vs Q2 2025
Distribution Solutions Group (DSGR) Q2 2026 vs Q2 2025 (year over year)
Distribution Solutions Group's revenue rose $55.3M (+11%) from $502M in Q2 2025 to $558M in Q2 2026. The biggest changes: TestEquity +$34.1M (+17%); Gexpro Services +$12.3M (+10%); Canada Branch Division +$7.8M (+14%). Gross margin 32.3% against 33.9% (-1.6 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 32.3% | 33.9% | -1.6 pts |
| Operating margin | 5.0% | 5.3% | -0.3 pts |
| Net margin | 1.5% | 1.0% | +0.5 pts |
| Free cash flow margin | 2.9% | 5.7% | -2.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| TestEquity | $229M | $195M | $34.1M | +17% |
| Gexpro Services | $140M | $127M | $12.3M | +10% |
| Lawson | $125M | $124M | $1.1M | +0.9% |
| Canada Branch Division | $63.7M | $55.8M | $7.8M | +14% |
| Revenue | $558M | $502M | $55.3M | +11% |
| Gross profit | $180M | $170M | $10.1M | +6% |
| Cost of revenue | $378M | $332M | $45.2M | +14% |
| Operating profit | $27.9M | $26.8M | $1.0M | +4% |
| Operating expenses | $152M | $143M | $9.0M | +6% |
| Pre-tax earnings | $14.4M | $11.9M | $2.5M | +21% |
| Other expense, net | $13.5M | $15.0M | −$1.5M | -10% |
| Net earnings | $8.5M | $5.0M | $3.5M | +70% |
| Income tax | $5.9M | $6.9M | −$962K | -14% |
| Operating cash sources | $30.6M | $26.6M | $3.9M | +15% |
| Depreciation & amortization | $19.9M | $20.3M | −$473K | -2% |
| Share-based compensation | $2.2M | $1.3M | $900K | +69% |
| Working capital & other | $8.6M | −$6.7M | $15.2M | — |
| Operating cash flow | $22.0M | $33.3M | −$11.3M | -34% |
| Free cash flow (OCF − capex) | $16.4M | $28.7M | −$12.2M | -43% |
| Capital expenditures | $5.5M | $4.6M | $896K | +19% |
Questions
How much did Distribution Solutions Group's revenue grow year over year in Q2 2026?
Distribution Solutions Group's revenue rose $55.3M (+11%) from $502M in Q2 2025 to $558M in Q2 2026.
What drove Distribution Solutions Group's revenue change in Q2 2026?
TestEquity +$34.1M (+17%); Gexpro Services +$12.3M (+10%); Canada Branch Division +$7.8M (+14%).