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 on November 12, 2021, its decision to transition to a new audit firm for the remainder of fiscal 2021 and fiscal 2022. The company appointed McConnell & Jones LLP as its interim auditor to ensure timely completion of its Q3 Form 10-Q and full year audit. Despite late-year challenges, McConnell Jones is well-equipped to handle this transition. DXP emphasized its commitment to strengthening its finance and accounting functions while acknowledging successful recovery and reduced oil and gas exposure.
DXP Enterprises, Inc. (NASDAQ: DXPE) announced the appointment of Karen Hoffman as a new independent board member, effective immediately. Hoffman brings over 19 years of experience in tax accounting and the energy sector, currently serving as Global Tax Director for Transocean. DXP’s chairman, David Little, expressed enthusiasm about her diverse expertise, emphasizing the anticipated benefits of adding more diversity to the board as the company continues its growth trajectory.
DXP Enterprises (NASDAQ: DXPE) filed its 10K/A, reporting a slight increase in net income for 2018 and 2019, but a decrease in 2020. The restatement impacts were 7.6%, 2.8%, and 1.9% to net income for 2018, 2019, and 2020, respectively. The company emphasized its positive balance sheet and ongoing improvements in finance and accounting processes, including automation in accounts payable. DXP's CFO stated that the company has maintained strong cash availability over 16 quarters and is focused on stakeholder interests.
DXP Enterprises, Inc. (NASDAQ: DXPE) has completed the acquisition of Premier Water, a distributor focused on water and wastewater treatment in North and South Carolina. Although financial terms remain undisclosed, Premier's sales were approximately $3.6 million with an adjusted EBITDA of $850,000. This acquisition enhances DXP's capabilities in the water sector, adding new geography and diversifying their market exposure. The leadership expressed optimism about the positive impact on customers, employees, and shareholders.
DXP Enterprises, Inc. (NASDAQ: DXPE) announced it received a notice from Nasdaq on August 17, 2021, regarding non-compliance for failing to timely file its Quarterly Report on Form 10-Q for Q2 2021. The company has 60 days to submit a compliance plan, with the possibility of an extension until February 14, 2022, if accepted. Although the notice doesn't affect current trading, there is no guarantee of compliance or acceptance. DXP aims to file its Form 10-Q by September 15, 2021.
DXP Enterprises (NASDAQ: DXPE) reported preliminary financial results for Q2 2021, highlighting a 16.2% increase in sales to $285.5 million, compared to $245.6 million in Q1 2021 and $251.4 million in Q2 2020. Net income rose to $8.1 million from $2.1 million a year prior, with earnings per diluted share at $0.40. Adjusted EBITDA reached $22.6 million, a significant jump from previous quarters. However, cash flow from operations decreased to $7.6 million, down from $63.4 million in Q2 2020. The company plans adjustments to prior financial statements due to un-vouchered purchase orders.
DXP Enterprises, Inc. (NASDAQ:DXPE) will release its preliminary financial results for Q2 2021 on August 16, 2021, before market open. The results will be accessible on the Investor Relations section of DXP's website, along with a slide presentation. This announcement is part of DXP's commitment to transparency; however, forward-looking statements are subject to risks, including capital acquisition and economic conditions. Investors should review the company's filings with the SEC for comprehensive insights.
DXP Enterprises, Inc. (NASDAQ: DXPE) reports strong preliminary financial results for Q2 2021, reflecting a 16.2% sequential sales growth across all business segments. Total sales reached $285.5 million, up from $251.4 million in Q2 2020. Free cash flow was $10.6 million, supported by $79.3 million in cash and equivalents as of June 30, 2021. The company continues to see positive trends as markets recover from the COVID-19 pandemic, positioning itself for further growth.
DXP Enterprises, Inc. (NASDAQ:DXPE) is set to announce its financial results for the second quarter ending June 30, 2021, on August 6, 2021. The press release will be made available before the market opens, followed by a live conference call at 10:30 A.M. CT. Investors can access the earnings release, slides, and additional materials in the 'Investor Relations' section of DXP's website. The company emphasizes its commitment to transparency, and the release will include forward-looking statements subject to various risks and uncertainties.
DXP Enterprises, Inc. (NASDAQ: DXPE) has announced a stock repurchase program allowing the company to buy back up to $85 million worth of shares, approximately 1.5 million shares, over the next 24 months. This initiative reflects the Board’s confidence in the company’s future and aims to enhance shareholder value. Purchases will be made at prevailing market prices, funded from available working capital. The company has around 20 million shares outstanding as of March 31, 2021. DXP’s management emphasizes that stock repurchases may be a beneficial use of capital.