ePlus inc. (PLUS) Earnings: Q2 Fiscal 2027 Results

The quarter ended September 30, 2026 and ePlus inc. published the results on November 5, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. ePlus inc. reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Non-GAAP net earnings from continuing operations per diluted share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• ePlus's fiscal year ends March 31, so Q2 fiscal 2027 is the quarter to September 30, 2026.
• GAAP EPS on this page is total diluted EPS. The year-ago $1.32 includes a $0.13 loss from discontinued operations (the domestic financing business ePlus sold); diluted EPS from continuing operations was $1.56, against $1.45.
• ePlus revised previously issued financial statements for misstatements of product revenue from a miscalculation of accrued revenue, which it determined were not material.

Source: ePlus Q2 fiscal 2027 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How ePlus inc. splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• ePlus inc.'s Product revenue was $547 million in Q2 fiscal 2027, up 13% from $485 million in Q2 fiscal 2026, 82% of total revenue.
• ePlus inc.'s Professional services revenue was $67.8 million in Q2 fiscal 2027, down 11% from $76.3 million in Q2 fiscal 2026, 10% of total revenue.
• ePlus inc.'s Managed services revenue was $53.1 million in Q2 fiscal 2027, up 12% from $47.4 million in Q2 fiscal 2026, 8% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q2 fiscal 2027 release, ePlus inc. said:

“ePlus is increasing its fiscal year 2027 guidance of year over year growth to the upper single digits for net sales and gross profit, and the low double digits for adjusted EBITDA.”

“This guidance does not factor in recessionary conditions, or other unexpected developments.”

Source: ePlus Q2 fiscal 2027 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PLUS forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales in millions and total diluted EPS (including discontinued operations), each as first reported in that quarter's release.

We do not hold a confirmed date for ePlus inc.'s next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Nov 5, 2026

ePlus resells and services IT products, and most of its net sales come from products. In Q2 fiscal 2027 net sales were $667.9 million, up 9.7% from $608.8 million. The product segment brought in $547.1 million, professional services $67.8 million and managed services $53.1 million. (ePlus Q2 fiscal 2027 release, Nov 5, 2026)

Product sales rose 12.8% on cloud, security, collaboration and other products, partly offset by networking. Cloud product net sales were $178.6 million, up 39.2%, while networking fell 9.2% to $234.4 million. Product gross margin rose to 25.8% from 24.5%, which ePlus puts down to product mix and more sales of third-party maintenance, subscriptions and services that are recognized on a net basis. (ePlus Q2 fiscal 2027 release, Nov 5, 2026)

Because some of what ePlus sells is booked net, it also reports gross billings, which were a record $1,066.8 million, up 4.3%. Professional services revenue fell 11.3%, which ePlus attributes to delays in project-related services from retail customers, while managed services rose 11.9% on cloud managed services. (ePlus Q2 fiscal 2027 release, Nov 5, 2026)

ePlus depends heavily on Cisco: products made by Cisco Systems were about 31% of net sales in the quarter and 29% for fiscal 2026. By customer end market, financial services net sales rose 48.3% to $93.5 million and healthcare 22.0% to $100.4 million, while telecom, media & entertainment, the largest market at $153.9 million, fell 12.9%. (ePlus Form 10-Q, Q2 fiscal 2027, Nov 5, 2026; ePlus Form 10-K, fiscal 2026, May 28, 2026; ePlus Q2 fiscal 2027 release, Nov 5, 2026)

ePlus earned $1.56 per diluted share in Q2 fiscal 2027, all from continuing operations, and $1.82 on its non-GAAP measure. The non-GAAP figure adds back $0.12 of acquisition related amortization, $0.11 of share-based compensation, $0.02 of acquisition related expenses and $0.01 of other expense, net of tax. (ePlus Q2 fiscal 2027 release, Nov 5, 2026)

Other income (expense), net was a $0.5 million expense, against $5.2 million of income a year earlier, because of a $3.5 million reduction in the fair value of the contingent consideration receivable from the sale of ePlus's domestic financing business, lower interest income and foreign currency losses. The effective tax rate was 27.9%, against 29.3%. (ePlus Q2 fiscal 2027 release, Nov 5, 2026)

Diluted weighted average shares fell to 25,911 thousand from 26,406 thousand. In the first half of fiscal 2027 ePlus bought back 399,388 shares for $33.9 million, and in August 2026 its board authorized repurchases of up to 1,500,000 shares over 12 months. It declared a quarterly dividend of $0.27 per share. (ePlus Q2 fiscal 2027 release, Nov 5, 2026; ePlus Form 10-Q, Q2 fiscal 2027, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

ePlus gives annual guidance as growth ranges, not dollar figures. In its Q2 fiscal 2027 release it raised its fiscal 2027 outlook to year-over-year growth in the upper single digits for net sales and gross profit and the low double digits for adjusted EBITDA, and said the guidance does not factor in recessionary conditions. (ePlus Q2 fiscal 2027 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover ePlus inc., collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones ePlus inc.'s own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PLUS is on is PLUS a buy or a sell?, what analysts expect next is on the PLUS forecast, and what the company does is on the ePlus inc. (PLUS) stock page.

Every number on this page can be traced to a document ePlus inc. published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.