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) 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.
DXP Enterprises, Inc. (NASDAQ:DXPE) will announce its financial results for Q4 ending December 31, 2021, on March 25, 2022, before market open. A live conference call is scheduled for 10:30 AM CT on the same day, accessible via the Company's website. Preliminary results and a presentation will be available in the 'Investor Relations' section of the website prior to the call. This announcement is part of the company's regular reporting obligations, providing insights into its performance and future outlook.
DXP Enterprises (NASDAQ: DXPE) announces the acquisition of Drydon Equipment and Burlingame Engineers, enhancing its position in the water and wastewater treatment markets. Drydon specializes in pumps, valves, and controls in Illinois, Indiana, Wisconsin, and Michigan, while Burlingame focuses on California's industrial and municipal sectors. Financial terms are undisclosed, but DXP utilized cash and stock for the acquisitions. These transactions align with DXP's strategy for growth and diversification, aiming to increase market share and improve customer service capabilities.
DXP Enterprises (NASDAQ: DXPE) has appointed Nick Little as Chief Operating Officer and Paz Maestas as Chief Marketing & Technology Officer, effective January 7, 2022. Nick, who has been with DXP for 18 years, will oversee strategic direction and operations. Paz, with 20 years at DXP, will lead e-commerce initiatives. Chairman and CEO David Little highlighted their experience as crucial for DXP's growth amid industry recovery. These appointments aim to strengthen leadership and position DXP for future opportunities.
DXP Enterprises, Inc. (NASDAQ: DXPE) reported a strong third quarter for 2021, achieving $289.5 million in sales, up 31.5% year-over-year. The company produced a GAAP diluted EPS of $0.36 and net income of $7.1 million, a turnaround from last year's loss of $34.7 million. Despite operational cash flow of $6.6 million, free cash flow decreased to $5.2 million. The acquisition of Process Machinery and Premier Water contributed to revenue growth. DXP maintains a strong liquidity position with $63.1 million in cash and $194 million in total liquidity.