DXP Enterprises Reports Fourth Quarter and Fiscal 2023 Results
- Strong fiscal 2023 performance for DXP Enterprises, Inc. with sales of $1.7 billion, up 13.4% from fiscal 2022.
- Solid GAAP diluted EPS of $3.89 and net income of $68.8 million reported for fiscal 2023.
- Adjusted EBITDA stood at $174.3 million, reflecting a 37.5% increase from the previous year.
- DXP Enterprises repurchased 1.7 million shares, closed three acquisitions, and refinanced $550 million in Senior Secured Term Loan B.
- Business segments showed significant growth, with Service Centers revenue at $1.1 billion, Innovative Pumping Solutions at $273.2 million, and Supply Chain Services at $260.4 million.
- CEO David R. Little expressed confidence in the company's growth strategy and positive outlook for 2024.
- None.
Insights
The reported fiscal 2023 sales growth of 13.4% for DXP Enterprises, Inc. indicates a robust year-over-year expansion, which is a positive sign for investors and stakeholders. The increase in net income from $48.2 million to $68.8 million is a substantial improvement in profitability. The repurchase of 1.7 million shares for $54.7 million signals a potential confidence by management in the company's valuation and a return of capital to shareholders, which can be seen as a bullish indicator. The refinancing of the Senior Secured Term Loan B and raising $550 million may improve the company's debt profile and provide additional liquidity for strategic initiatives.
However, the net debt of $375.5 million must be considered alongside the company's leverage ratio of 2.1:1.0, which reflects the company's borrowing levels relative to its EBITDA. While this ratio is within reasonable limits, it will be important to monitor how the company manages its debt, especially in the context of its acquisition strategy and any potential market volatility. The free cash flow figure of $94.0 million, representing 55.2% of EBITDA, is a strong indicator of the company's operational efficiency and its ability to generate cash from its business operations.
The performance of DXP Enterprises' business segments, particularly the Innovative Pumping Solutions with an 18.2% revenue increase, reflects a strategic focus on high-growth areas. The Service Centers and Supply Chain Services also reported healthy year-over-year growth. This diversification across segments may reduce risk and provide stability against market fluctuations. The company's focus on end markets like oil & gas and water & wastewater suggests an alignment with industries that have a positive outlook and potential for future growth.
It's also noteworthy that the company closed three acquisitions during the fiscal year, which could enhance its market position and service offerings. The impact of these acquisitions on the company's financials and market share will be an area to watch in the upcoming fiscal year. The company's strategy to grow both organically and through acquisitions, if executed effectively, could lead to increased market share and a stronger competitive position.
The financial results of DXP Enterprises reflect a broader economic context where industrial service providers are capitalizing on favorable market conditions. The company's reported revenue growth and increased net income suggest a healthy demand for its products and services, which could be indicative of broader industrial and manufacturing sector strength. The strategic acquisitions made during the fiscal year may also point to a consolidation trend within the industry, which is often a response to competitive pressures and a pursuit of economies of scale.
The company's ability to generate significant free cash flow and maintain a stable leverage ratio in a dynamic economic environment speaks to its operational resilience. Furthermore, the company's emphasis on margin improvement and operational discipline is crucial for sustaining profitability, especially if the economic conditions become less favorable. The reported results and strategic moves by DXP Enterprises could be seen as a microcosm of the industrial sector's current state and its trajectory in the short to medium term.
-
Fiscal 2023 sales of
$1.7 billion -
Solid full Year GAAP diluted EPS of
$3.89 -
$174.3 million -
Net income of
$68.8 million $48.2 million -
Refinanced Senior Secured Term Loan B raising
$550 million -
Repurchased 1.7 million shares for
$54.7 million -
$173.2 million - Closed three acquisitions during the fiscal year - Florida Valve, Riordan, and Alliance Pump & Mechanical
Fourth Quarter 2023 financial highlights:
-
Sales were
$407.0 million $6.7 million $406.3 million $6.6 million -
Diluted earnings per share for the fourth quarter was
$0.94 $0.37 $1.12 $0.50 -
Adjusted earnings before interest, taxes, depreciation and amortization and other non-cash charges ("Adjusted EBITDA") for the fourth quarter of 2023 was
$41.9 million $31.6 million -
Free cash flow (cash flow from operating activities less capital expenditures) for the fourth quarter was
$37.3 million
Fiscal Year 2023 financial highlights:
-
Sales increased 13.4 percent to
$1.7 billion $6.7 million $1.5 billion $5.9 million -
Diluted earnings per share for 2023 was
$3.89 $2.47 $4.09 $2.69 -
Net income for the year increased
$20.7 million $68.8 million $48.2 million -
Adjusted EBITDA for 2023 was
$174.3 million $126.8 million -
Free cash flow (cash flow from operating activities less capital expenditures) for fiscal 2023 was
$94.0 million $1.0 million
Business segment financial highlights:
-
Service Centers’ revenue for the fiscal year was
$1.1 billion -
Innovative Pumping Solutions’ revenue for the fiscal year was
$273.2 million -
Supply Chain Services’ revenue for the fiscal year was
$260.4 million
David R. Little, Chairman and CEO commented, "Fiscal 2023 was another great year for DXP. DXPeople drove fourth quarter results, with strong performance across all business segments. Broad based business strength across the business helped us deliver 13.4 percent revenue growth on a year-over-year basis. This growth has fueled a healthy momentum coming into 2024. DXP’s Innovative Pumping Solutions sales were up 18.2 percent to
Mr. Little continued, "The sales momentum from the fourth quarter accompanied by our backlogs has positioned us for further success as we move into 2024. Additionally, we strengthened our balance sheet in the fourth quarter, raising a new Term Loan B which put an incremental
Kent Yee, CFO commented, "Fiscal 2023 financial performance reflects the execution of our end market diversification efforts, our plans to grow both organically and through acquisitions, and continuous improvement in our operations and efficiency. Total sales and adjusted EBITDA grew 13.4 percent and 37.5 percent, respectively. Our fiscal 2023 diluted earnings per share was
Non-GAAP Financial Measures
DXP supplements reporting of net income with non-GAAP measurements, including EBITDA, adjusted EBITDA, free cash flow, Adjusted Net Income attributable to DXP Enterprises, Inc., and net debt. This supplemental information should not be considered in isolation or as a substitute for the unaudited GAAP measurements. Additional information regarding EBITDA, free cash flow and Adjusted Net Income attributable to DXP Enterprises, Inc. referred to in this press release are included below under "Unaudited Reconciliation of Non-GAAP Financial Information."
The Company believes EBITDA provides additional information about: (i) operating performance, because it assists in comparing the operating performance of the business, as it removes the impact of non-cash depreciation and amortization expense as well as items not directly resulting from core operations such as interest expense and income taxes and (ii) the performance and the effectiveness of operational strategies. Additionally, EBITDA performance is a component of a measure of the Company’s financial covenants under its credit facility. Furthermore, some investors use EBITDA as a supplemental measure to evaluate the overall operating performance of companies in the industry. Management believes that some investors’ understanding of performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing ongoing results of operations. By providing this non-GAAP financial measure, together with a reconciliation from net income, the Company believes it is enhancing investors’ understanding of the business and results of operations, as well as assisting investors in evaluating how well the Company is executing strategic initiatives.
Conference Call Information
DXP Enterprises, Inc. management will host a conference call, March 7, 2024, at 3:30 p.m. Central Time, to discuss the Company’s financial results. The conference call may be accessed by going to https://ir.dxpe.com. Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at https://ir.dxpe.com. The online replay will be available on the same website immediately following the call. A slide presentation highlighting the Company’s results and key performance indicators will also be available on the Investor Relations section of the Company’s website.
To learn more about DXP Enterprises, Inc., please visit the Company's website at https://ir.dxpe.com
About DXP Enterprises, Inc.
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout
The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. These forward-looking statements include without limitation those about the Company’s expectations regarding the impact of the COVID-19 pandemic and the impact of low commodity prices of oil and gas; the Company’s business, the Company’s future profitability, cash flow, liquidity, and growth. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; decreases in oil and natural gas prices; decreases in oil and natural gas industry expenditure levels, which may result from decreased oil and natural gas prices or other factors; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, economic risks related to the impact of COVID-19, ability to manage changes and the continued health or availability of management personnel and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
DXP ENTERPRISES, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands, except per share amounts) |
|||||||||||
|
Twelve Months Ended December 31, |
||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
|
2021 |
|
|
|
|
|
|
|
||||||
Sales |
$ |
1,678,600 |
|
|
$ |
1,480,832 |
|
|
$ |
1,113,921 |
|
Cost of sales |
|
1,173,309 |
|
|
|
1,058,794 |
|
|
|
785,415 |
|
Gross profit |
|
505,291 |
|
|
|
422,038 |
|
|
|
328,506 |
|
Selling, general and administrative expenses |
|
366,569 |
|
|
|
324,286 |
|
|
|
288,649 |
|
Income from operations |
|
138,722 |
|
|
|
97,752 |
|
|
|
39,857 |
|
Other (income) expense, net |
|
(1,355 |
) |
|
|
2,716 |
|
|
|
(414 |
) |
Interest expense |
|
53,146 |
|
|
|
29,135 |
|
|
|
21,089 |
|
Income before income taxes |
|
86,931 |
|
|
|
65,901 |
|
|
|
19,182 |
|
Provision for income tax expense |
|
18,119 |
|
|
|
17,799 |
|
|
|
3,431 |
|
Net income |
|
68,812 |
|
|
|
48,102 |
|
|
|
15,751 |
|
Net loss attributable to noncontrolling interest |
|
— |
|
|
|
(53 |
) |
|
|
(745 |
) |
Net income attributable to DXP Enterprises, Inc. |
|
68,812 |
|
|
|
48,155 |
|
|
|
16,496 |
|
Preferred stock dividend |
|
90 |
|
|
|
90 |
|
|
|
90 |
|
Net income attributable to common shareholders |
$ |
68,722 |
|
|
$ |
48,065 |
|
|
$ |
16,406 |
|
|
|
|
|
|
|
||||||
Net income |
$ |
68,812 |
|
|
$ |
48,102 |
|
|
$ |
15,751 |
|
Foreign currency translation adjustments |
|
435 |
|
|
|
(2,393 |
) |
|
|
747 |
|
Comprehensive income |
$ |
69,247 |
|
|
$ |
45,709 |
|
|
$ |
16,498 |
|
|
|
|
|
|
|
||||||
Basic |
$ |
4.07 |
|
|
$ |
2.58 |
|
|
$ |
0.87 |
|
Diluted |
$ |
3.89 |
|
|
$ |
2.47 |
|
|
$ |
0.83 |
|
|
|
|
|
|
|
||||||
Weighted average common shares outstanding: |
|
|
|
|
|
||||||
Basic |
|
16,870 |
|
|
|
18,631 |
|
|
|
18,949 |
|
Diluted |
|
17,710 |
|
|
|
19,471 |
|
|
|
19,789 |
|
DXP ENTERPRISES, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS ($ thousands, except per share amounts) |
|||||||
|
As of December 31, |
||||||
|
|
2023 |
|
|
|
2022 |
|
ASSETS |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash |
$ |
173,120 |
|
|
$ |
46,026 |
|
Restricted cash |
|
91 |
|
|
|
91 |
|
Accounts receivable, net of allowance of |
|
311,171 |
|
|
|
320,880 |
|
Inventories |
|
103,805 |
|
|
|
101,392 |
|
Costs and estimated profits in excess of billings |
|
42,323 |
|
|
|
23,588 |
|
Prepaid expenses and other current assets |
|
18,044 |
|
|
|
24,137 |
|
Total current assets |
|
648,554 |
|
|
|
516,114 |
|
Property and equipment, net |
|
61,618 |
|
|
|
45,964 |
|
Goodwill |
|
343,991 |
|
|
|
333,759 |
|
Other intangible assets, net |
|
63,895 |
|
|
|
79,585 |
|
Operating lease right of use assets, net |
|
48,729 |
|
|
|
57,402 |
|
Other long-term assets |
|
10,649 |
|
|
|
4,456 |
|
Total assets |
$ |
1,177,436 |
|
|
$ |
1,037,280 |
|
|
|
|
|
||||
LIABILITIES AND EQUITY |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Current maturities of debt |
$ |
5,500 |
|
|
$ |
4,369 |
|
Trade accounts payable |
|
96,469 |
|
|
|
92,805 |
|
Accrued wages and benefits |
|
36,238 |
|
|
|
26,260 |
|
Customer advances |
|
12,160 |
|
|
|
20,128 |
|
Billings in excess of costs and estimated profits |
|
9,506 |
|
|
|
10,411 |
|
Short-term operating lease liabilities |
|
15,438 |
|
|
|
18,083 |
|
Other current liabilities |
|
48,854 |
|
|
|
40,845 |
|
Total current liabilities |
|
224,165 |
|
|
|
212,901 |
|
Long-term debt, net of unamortized debt issuance costs and discounts |
|
520,697 |
|
|
|
409,205 |
|
Long-term operating lease liabilities |
|
34,336 |
|
|
|
40,189 |
|
Other long-term liabilities |
|
17,359 |
|
|
|
9,593 |
|
Total long-term liabilities |
|
572,392 |
|
|
|
458,987 |
|
Total liabilities |
|
796,557 |
|
|
|
671,888 |
|
Shareholders' Equity: |
|
|
|
||||
Series A preferred stock, |
|
1 |
|
|
|
1 |
|
Series B convertible preferred stock, |
|
15 |
|
|
|
15 |
|
Common stock, |
|
345 |
|
|
|
345 |
|
Additional paid-in capital |
|
216,482 |
|
|
|
213,937 |
|
Retained earnings |
|
319,271 |
|
|
|
250,549 |
|
Accumulated other comprehensive loss |
|
(31,240 |
) |
|
|
(31,675 |
) |
Treasury stock, at cost 4,141,989 and 2,435,352 shares, respectively |
|
(123,995 |
) |
|
|
(67,780 |
) |
Total DXP Enterprises, Inc. equity |
|
380,879 |
|
|
|
365,392 |
|
Total liabilities and equity |
$ |
1,177,436 |
|
|
$ |
1,037,280 |
|
SEGMENT DATA ($ thousands, unaudited) |
|||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||
Sales |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
Service Centers |
$ |
256,966 |
|
$ |
279,378 |
|
$ |
1,145,082 |
|
$ |
1,009,356 |
Innovative Pumping Solutions |
|
88,748 |
|
|
61,212 |
|
|
273,150 |
|
|
231,102 |
Supply Chain Services |
|
61,330 |
|
|
65,704 |
|
|
260,368 |
|
|
240,374 |
Total DXP Sales |
$ |
407,044 |
|
$ |
406,294 |
|
$ |
1,678,600 |
|
$ |
1,480,832 |
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||
Operating Income |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
Service Centers |
$ |
33,603 |
|
$ |
31,807 |
|
$ |
163,877 |
|
$ |
127,174 |
Innovative Pumping Solutions |
|
12,622 |
|
|
6,826 |
|
|
44,260 |
|
|
30,037 |
Supply Chain Services |
|
5,001 |
|
|
5,238 |
|
|
21,524 |
|
|
19,530 |
Total segment operating income |
$ |
51,226 |
|
$ |
43,871 |
|
$ |
229,661 |
|
$ |
176,741 |
Reconciliation of Operating Income for Reportable Segments ($ thousands, unaudited) |
||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
|||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
Operating income for reportable segments |
$ |
51,226 |
|
|
$ |
43,871 |
|
|
$ |
229,661 |
|
|
$ |
176,741 |
Adjustment for: |
|
|
|
|
|
|
|
|||||||
Amortization of intangibles |
|
3,025 |
|
|
|
4,957 |
|
|
|
18,231 |
|
|
|
18,915 |
Corporate and other expense, net |
|
18,214 |
|
|
|
15,180 |
|
|
|
72,708 |
|
|
|
60,074 |
Total operating income |
$ |
29,987 |
|
|
$ |
23,734 |
|
|
$ |
138,722 |
|
|
$ |
97,752 |
Interest expense |
|
17,078 |
|
|
|
11,525 |
|
|
|
53,146 |
|
|
|
29,135 |
Other (income) expense, net |
|
(1,876 |
) |
|
|
(227 |
) |
|
|
(1,355 |
) |
|
|
2,716 |
Income before income taxes |
$ |
14,785 |
|
|
$ |
12,436 |
|
|
$ |
86,931 |
|
|
$ |
65,901 |
Unaudited Reconciliation of Non-GAAP Financial Information
($ thousands, unaudited)
The following table is a reconciliation of EBITDA and adjusted EBITDA, a non-GAAP financial measure, to income (loss) before income taxes, calculated and reported in accordance with
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Net income attributable to DXP Enterprises, Inc. |
$ |
16,005 |
|
|
$ |
7,154 |
|
$ |
68,812 |
|
$ |
48,155 |
|
Less: Net loss attributable to non-controlling interest (NCI) |
|
— |
|
|
|
885 |
|
|
— |
|
|
(53 |
) |
Plus: Interest expense |
|
17,078 |
|
|
|
11,525 |
|
|
53,146 |
|
|
29,135 |
|
Plus: Provision for income tax expense |
|
(1,220 |
) |
|
|
4,397 |
|
|
18,119 |
|
|
17,799 |
|
Plus: Depreciation and amortization |
|
8,637 |
|
|
|
7,175 |
|
|
30,105 |
|
|
28,500 |
|
EBITDA |
$ |
40,500 |
|
|
$ |
31,136 |
|
$ |
170,182 |
|
$ |
123,536 |
|
Plus: NCI income before tax |
|
— |
|
|
|
— |
|
|
— |
|
|
227 |
|
Plus: other non-recurring items(1) |
|
500 |
|
|
|
— |
|
|
1,051 |
|
|
1,193 |
|
Plus: stock compensation expense |
|
861 |
|
|
|
482 |
|
|
3,072 |
|
|
1,850 |
|
Adjusted EBITDA |
$ |
41,861 |
|
|
$ |
31,618 |
|
$ |
174,305 |
|
$ |
126,806 |
|
(1) Other non-recurring items primarily include the loss associated with closing an international location for the year ended December 31, 2023 and the loss associated with the sale of a variable interest entity (VIE) for the year ended December 31, 2022. |
|||||||||||||
The following table is a reconciliation of free cash flow, a non-GAAP financial measure, to cash flow from operating activities, calculated and reported in accordance with
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Net cash from operating activities |
$ |
42,444 |
|
|
$ |
3,638 |
|
|
$ |
106,222 |
|
|
$ |
5,894 |
|
Less: purchases of property and equipment, net |
|
(5,160 |
) |
|
|
(1,490 |
) |
|
|
(12,263 |
) |
|
|
(4,916 |
) |
Free Cash Flow |
$ |
37,284 |
|
|
$ |
2,148 |
|
|
$ |
93,959 |
|
|
$ |
978 |
|
|
|
|
|
|
|
|
|
||||||||
Unaudited Reconciliation of Non-GAAP Financial Information
($ thousands, unaudited)
The following table is a reconciliation of adjusted net income attributable to DXP Enterprises, Inc., a non-GAAP financial measure, to net income attributable to DXP Enterprises, Inc., calculated and reported in accordance with
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
Net Income attributable to DXP Enterprises, Inc. |
$ |
16,005 |
|
$ |
7,154 |
|
$ |
68,812 |
|
$ |
48,155 |
One-time non-cash loss |
|
— |
|
|
— |
|
|
— |
|
|
1,193 |
One-time debt financing costs |
|
1,981 |
|
|
1,972 |
|
|
1,981 |
|
|
2,103 |
Other non-recurring items |
|
500 |
|
|
— |
|
|
1,051 |
|
|
— |
Adjustment for taxes* |
|
517 |
|
|
533 |
|
|
632 |
|
|
890 |
Adjusted Net Income attributable to DXP Enterprises, Inc. |
$ |
19,003 |
|
$ |
9,659 |
|
$ |
72,476 |
|
$ |
52,341 |
|
|
|
|
|
|
|
|
||||
Weighted average common shares and common equivalent shares outstanding |
|
|
|
|
|
|
|
||||
Basic |
|
16,177 |
|
|
18,422 |
|
|
16,870 |
|
|
18,631 |
Diluted |
|
17,017 |
|
|
19,262 |
|
|
17,710 |
|
|
19,471 |
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
||||
Diluted Earnings per Share |
$ |
0.94 |
|
$ |
0.37 |
|
$ |
3.89 |
|
$ |
2.47 |
Adjusted Diluted Earnings per Share |
$ |
1.12 |
|
$ |
0.50 |
|
$ |
4.09 |
|
$ |
2.69 |
|
|
|
|
|
|
|
|
||||
* Adjustment for taxes relates to the tax effects of the adjustments that we incorporated into non-GAAP measures in order to provide a more meaningful measure of Adjusted Net Income attributable to DXP Enterprises, Inc. Also, we have included an adjustment for the normalizing of tax credits and adjustments. The year-to-date effective tax rate of 20.8 percent was applied to the one-time charges associated with the disposal of DXP's variable interest entity and one-time debt financing costs. |
|||||||||||
2023 Sales Per Business Day Reconciliation ($ thousands, except Business days, unaudited) |
||||
|
Q1 |
Q2 |
Q3 |
Q4 |
Total Sales |
|
|
|
|
Business Days |
64 |
64 |
63 |
61 |
Sales Per Business Day |
|
|
|
|
Organic Sales and Acquisition Sales ($ thousands, unaudited) |
|||||||||
|
|
Twelve Months Ended December 31, |
|||||||
|
|
|
2023 |
|
|
2022 |
|
|
2021 |
Service Centers |
|
$ |
1,145,082 |
|
$ |
1,009,356 |
|
$ |
816,496 |
Innovative Pumping Solutions |
|
|
273,150 |
|
|
231,102 |
|
|
139,591 |
Supply Chain Services |
|
|
260,368 |
|
|
240,374 |
|
|
157,834 |
Total DXP Sales |
|
|
1,678,600 |
|
|
1,480,832 |
|
|
1,113,921 |
Acquisition Sales |
|
|
33,078 |
|
|
41,527 |
|
|
147,472 |
Organic Sales |
|
$ |
1,645,522 |
|
$ |
1,439,305 |
|
$ |
966,449 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240307539845/en/
Kent Yee
Senior Vice President, CFO - 713-996-4700
www.dxpe.com
Source: DXP Enterprises, Inc.
FAQ
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