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.

DXP Enterprises, Inc. (NASDAQ: DXPE) has initiated a new stock repurchase program, authorizing the purchase of up to $85 million or approximately 2.8 million shares over the next 24 months. This decision follows the successful completion of a previous repurchase program that resulted in the buyback of 1.5 million shares. The company aims to enhance shareholder value and demonstrates management’s confidence in its business future, as noted by CEO David R. Little and CFO Kent Yee.

DXP Enterprises, Inc. (NASDAQ: DXPE) has successfully closed an incremental $105 million Senior Secured Term Loan B, raising its total borrowings to $417.2 million. This loan, maturing in 2027 and priced at Term SOFR plus an applicable margin, will help DXP repay existing Asset Based Loans and support general corporate purposes, acquisitions, and expenses. With $70 million in cash on hand, DXP is positioned to enhance its liquidity and financial flexibility, aiming for growth amidst changing market conditions.

DXP Enterprises, Inc. (NASDAQ: DXPE) reported strong Q3 2022 results, achieving $387.3 million in sales, a 33.8% increase year-over-year and 5.3% sequentially. Net income rose to $13.2 million from $7.1 million in Q3 2021, with GAAP diluted EPS of $0.67 and non-GAAP diluted EPS of $0.75. Adjusted EBITDA was $34.3 million, reflecting a robust 9% margin. The company completed the acquisition of Sullivan Environmental Technologies, focusing on environmentally friendly markets. Total debt stood at $364.8 million, with a secured leverage ratio of 2.86:1.0.

DXP Enterprises, Inc. (NASDAQ:DXPE) will announce its financial results for the third quarter ended September 30, 2022, on November 9. The earnings release will occur before the market opens, followed by a live conference call at 10:30 A.M. Central Time. Interested participants can access the call on DXP's website, where a replay will also be available. Key risks that may affect future results include economic conditions and changes in customer preferences.