Dxp Enterprises Inc Stock Price, News & Analysis

DXP Enterprises (NASDAQ: DXPE) has scheduled its third quarter 2024 earnings release for Monday, November 4th, after market close. The company will host a conference call and webcast on Tuesday, November 5th at 10:30 AM Central Time to discuss the financial results for the quarter ended September 30, 2024. The presentation will be available on the company's website investor relations section, along with accompanying slides and earnings materials. A replay will be available after the call.

DXP Enterprises (NASDAQ: DXPE) has successfully refinanced its existing Senior Secured Term Loan B (TLB) borrowings and raised an additional $105 million, bringing the total TLB borrowings to $649.5 million. The new loan matures on October 13, 2030, and is priced at Term SOFR plus a 3.75% margin, reducing the applicable margin by 100 basis points. This refinancing provides DXP with $110 million in cash on the balance sheet at close and supports its accelerating acquisition strategy.

The company plans to use the proceeds to repay existing TLB borrowings and for general corporate purposes, potential acquisitions, and transaction expenses. DXP's sales have grown from $1.0 billion in 2020 to $1.7 billion for the last twelve months ending June 30, 2024, with covenant compliance adjusted EBITDA increasing from $64.9 million to over $187.6 million in the same period. The pro forma net debt to EBITDA ratio stands at 2.75:1 following the transaction.

DXP Enterprises, Inc. (NASDAQ: DXPE) has acquired Hartwell Environmental , a leading manufacturer's representative of pumps, controls, and process equipment for the water and wastewater industry. The acquisition, completed on September 1, 2024, strengthens DXP's National Water & Wastewater efforts and establishes its presence in Texas and Oklahoma.

Hartwell's last twelve months' performance ending July 31, 2024, showed sales of $18.4 million and adjusted EBITDA of $4.1 million. This strategic move is expected to enhance DXP's technical products and services offerings, while providing access to new talent and resources to better serve customers.

DXP Enterprises (NASDAQ: DXPE) has announced a new stock repurchase program authorized by its Board of Directors. The program allows for the acquisition of up to $85.0 million or 2.5 million shares of outstanding common stock over the next 24 months. This follows the successful completion of a previous program where the company repurchased $85 million or 2.8 million shares.

The new program demonstrates confidence in DXP's future and aims to create additional shareholder value. The company views its shares as an attractive investment opportunity and believes that repurchasing shares is an accretive use of cash. DXP's management highlights the company's resilience, transformed end markets, and diversified business as factors supporting this decision.

DXP Enterprises, Inc. (NASDAQ: DXPE) reported strong financial results for Q2 2024. Sales increased 8.0% sequentially to $445.6 million, up 4.1% year-over-year. Net income was $16.7 million, with earnings per diluted share at $1.00. Adjusted EBITDA reached $48.2 million, a 10.8% margin. The company saw growth across its segments: Service Center ($306.5M), Innovative Pumping Solutions ($73.4M), and Supply Chain Services ($65.7M). DXP completed four acquisitions through Q2, enhancing its water and industrial rotating equipment capabilities. With a strong balance sheet and a secured leverage ratio of 2.64:1.0, DXP plans to close at least two more acquisitions in H2 2024, demonstrating its commitment to strategic growth and diversification.

DXP Enterprises, Inc. (NASDAQ: DXPE), a leading business-to-business products and service distributor, has announced its plans to release second quarter 2024 financial results on Thursday, August 8th, after market close. The company will host a conference call and webcast on Friday, August 9th at 10:30 AM Central Time to discuss the earnings.

Investors can access the webcast live on DXP's website (www.dxpe.com) in the 'Investor Relations' section. The earnings press release, accompanying slide presentation, and other related materials will be available on the website under the 'Financial Information' subheading. A replay of the webcast will be accessible shortly after the presentation concludes.

Web participants are advised to register and install any necessary audio software at least 15 minutes before the call starts. This announcement is protected under the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

DXP Enterprises, Inc. reported strong first quarter 2024 results with $412.6 million in sales, $0.67 GAAP diluted EPS, and $0.74 non-GAAP diluted EPS. The company saw a 1.4% sequential sales increase, completed multiple acquisitions, and generated $24.1 million in free cash flow. While net income decreased to $11.3 million, DXP remains optimistic about market conditions and growth initiatives for 2024.

DXP Enterprises, Inc. (NASDAQ:DXPE) will release its financial results for the first quarter of 2024 on May 8th after the market closes. A conference call will be held on May 9th at 10:30 A.M. Central Time, with a webcast available on the company's website. Earnings press release, slides, and other presentation materials will be posted on the Investor Relations section of DXP's website.