Welcome to our dedicated page for Dxp Enterprises news (Ticker: DXPE), a resource for investors and traders seeking the latest updates and insights on Dxp Enterprises stock.
DXP Enterprises, Inc. distributes maintenance, repair and operating products, equipment and services to MRO and OEM customers across industrial, energy, food and beverage, chemical, transportation, water and wastewater markets. The company operates through Service Centers, Innovative Pumping Solutions and Supply Chain Services, with product categories that include rotating equipment, bearings, power transmission, hose, fluid power, metal working, fasteners, industrial supplies and safety products.
Recurring news for DXPE includes quarterly and annual results, segment revenue and operating margin trends, Adjusted EBITDA, free cash flow and balance-sheet updates. Company announcements also cover completed acquisitions that expand DXP Water, water and wastewater service capabilities, integrated pump systems and related distribution platforms, as well as debt refinancing and other capital actions tied to its growth strategy.
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.
DXP Enterprises (NASDAQ: DXPE) has completed the acquisition of Sullivan Environmental Technologies, a distributor focused on water and wastewater treatment in Ohio, Kentucky, and Indiana. The financial terms were not disclosed, but Sullivan reported sales of $4.4 million and adjusted EBITDA of $1.6 million for the last twelve months ending July 31, 2022. This acquisition marks DXP's fourth in 2022 and aligns with its strategy to diversify its portfolio beyond oil & gas, which now constitutes less than 28% of its operations.
DXP Enterprises (NASDAQ: DXPE) reported strong financial results for Q2 2022, with sales of $367.8 million, marking a 28.7% year-over-year increase and a 15.2% sequential rise. Net income rose to $14.4 million compared to $8.1 million in Q2 2021, leading to GAAP diluted EPS of $0.74. Adjusted EBITDA also grew to $32.6 million, a 43.8% increase. The acquisition of Cisco Air Systems contributed $21.3 million to sales. DXP's solid performance reflects effective management amidst inflationary pressures and a positive outlook for the second half of 2022.
DXP Enterprises, Inc. (NASDAQ:DXPE) plans to announce its financial results for the second quarter ended June 30, 2022, on August 8. The earnings report will be released before market opening, followed by a live conference call at 10:00 A.M. Central Time. Investors can access the earnings press release and supporting materials on the company's website in the Investor Relations section. The press release includes forward-looking statements, outlining risks such as capital acquisition and economic conditions that could affect future results.
DXP Enterprises, Inc. (NASDAQ: DXPE) announced an extension of its $135 million Asset Based Loan Facility to 2027.
The amended agreement allows for up to $125 million for US borrowers and $10 million for Canadian borrowers, with the option to increase the facility by an additional $50 million. This financial strategy aims to maintain liquidity and support growth initiatives amidst changing market conditions. CEO David R. Little and CFO Kent Yee emphasized the importance of a strong capital structure for funding both working capital and acquisition growth.
DXP Enterprises, Inc. (NASDAQ: DXPE) reported a strong first quarter 2022, achieving $319.4 million in sales, marking a 30.1% year-over-year increase and a 9.0% sequential growth. The company’s diluted EPS was $0.65 based on 19.4 million shares outstanding, a significant rise from $0.02 per share last year. Adjusted EBITDA reached $28.3 million, up 91% sequentially. DXP remains optimistic despite ongoing challenges from inflation and supply chain issues, attributing growth to strong customer demand and successful acquisitions.
DXP Enterprises (NASDAQ:DXPE) has announced it will release its financial results for the first quarter ended March 31, 2022 on May 10. The press release will be made available before the market opens, followed by a conference call at 10:30 A.M. Central Time. Interested participants can access the call via DXP's website, where the earnings materials will also be posted. DXP emphasizes the importance of this earnings call for stakeholders and investors.
DXP Enterprises, Inc. (NASDAQ: DXPE) has completed the acquisition of Cisco Air Systems, a distributor of air compressors serving the food & beverage, transportation, and general industrial markets in Northern California and Nevada. The acquisition, which adds scale and capabilities to DXP, is part of their growth strategy to diversify end markets. Cisco reported approximately $43.2 million in sales and $7.0 million in adjusted EBITDA for the last twelve months. DXP aims to enhance its competitive position in the market through this transaction, funded by cash and common stock.
DXP Enterprises reported fiscal 2021 sales of $1.1 billion, a 10.8% increase from 2020. The company's GAAP diluted EPS reached $0.83, rebounding from a loss of $(1.65) per share in 2020. Fourth-quarter sales rose 26.0% to $293.1 million, with adjusted EPS at $0.05. DXP generated $32.8 million in free cash flow and $70.2 million in adjusted EBITDA. Three acquisitions were completed, and the company maintains a strong liquidity position with $49.1 million in cash. The auditor transition to PricewaterhouseCoopers for 2022 was also announced.
On March 25, 2022, DXP Enterprises, Inc. (NASDAQ: DXPE) announced the appointment of PricewaterhouseCoopers LLP as its independent registered public accounting firm for fiscal 2022. The Audit Committee informed McConnell & Jones LLP of this change on March 23, 2022, while they continue to finalize the audit for the fiscal year ending December 31, 2021. CFO Kent Yee expressed gratitude to McConnell & Jones for their professionalism during the audit process. DXP aims to enhance its finance and accounting capabilities to support its growth into a multi-billion-dollar enterprise.