Dxp Enterprises Inc Stock Price, News & Analysis

DXP Enterprises reported impressive results for fiscal 2022, with sales reaching $1.5 billion, marking a 32.9% increase from fiscal 2021. Net income surged to $48.2 million, a significant rise from $16.5 million in the previous year. The company also achieved a GAAP diluted EPS of $2.47, up from $0.83. Noteworthy, the fourth quarter sales grew by 38.6% to $406.3 million. DXP's Adjusted EBITDA reached $126.8 million, reflecting an 80.6% increase year-over-year. The company raised $105 million in financing and repurchased 1.3 million shares for $35.2 million. Management expressed confidence in sustaining growth into 2023 despite market volatility.

DXP Enterprises, Inc. (NASDAQ: DXPE) received a notice from Nasdaq on April 3, 2023, for failing to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The notice indicates non-compliance with Nasdaq Listing Rule 5250(c)(1). DXP has 60 days to submit a compliance plan, with a possible extension to September 27, 2023, pending Nasdaq's acceptance. The Company is working to file the Form 10-K by April 12, 2023. While the notice doesn't affect trading immediately, there is no guarantee of regaining compliance. DXP is focused on completing its filing as part of its ongoing business operations.

DXP Enterprises, Inc. (NASDAQ: DXPE) announced preliminary financial results for fiscal year 2022, showcasing remarkable growth. Sales are projected to reach between $1.40 billion and $1.46 billion, reflecting a 26% to 31% increase from the previous year. Operating income is expected to grow by 101% to 126%, estimated between $80 million and $90 million. Moreover, EBITDA is projected at $110 million to $120 million, marking a 63% to 78% rise. Diluted EPS is anticipated to range from $1.92 to $2.07, representing a substantial 131% to 149% increase compared to 2021.