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) reported Q1 2021 sales of $245.6 million, a 5.6% sequential increase from Q4 2020, yet down 18.4% year-over-year. Earnings per diluted share were $0.02, a decrease from $0.31 in Q1 2020. Adjusted EBITDA was $13.9 million, slightly up from Q4 2020 but down from $18.8 million in Q1 2020. The company closed the acquisition of Carter & Verplanck, enhancing its market diversification. DXP ended the quarter with $127.5 million in cash and $201.7 million in net debt, maintaining a leverage ratio of 2.82:1.
DXP Enterprises, Inc. (NASDAQ: DXPE) has successfully acquired Carter & Verplanck, Inc., a distributor specializing in the water and wastewater markets. Founded in 1927 and headquartered in Tampa, Florida, Carter & Verplanck recorded approximately $29.5 million in sales and $5.0 million in adjusted EBITDA for the last twelve months ending December 31, 2020. The acquisition is expected to enhance DXP's market share and service capabilities in the water and wastewater sectors. Financial terms of the deal remain undisclosed, but it will be financed through cash and common stock.
DXP Enterprises, Inc. (NASDAQ:DXPE) will announce its first-quarter financial results for the period ending March 31, 2021, on May 7, 2021, before market opening. The conference call will take place at 10:30 A.M. Central Time, available via webcast on the company's website. Additionally, earnings materials will be accessible in the 'Investor Relations' section after the market closes on May 6, 2021. The press release includes forward-looking statements and highlights risks related to economic conditions and capital needs.
DXP Enterprises, Inc. (NASDAQ: DXPE) has appointed Mr. Kent Yee, the Chief Financial Officer, as a director on its Board of Directors, effective immediately. Yee has been involved in Board meetings for the past decade and is recognized for his financial and strategic skills. As CFO, he's played a critical role in DXP's acquisitions and corporate activities, having executed over 45 transactions totaling more than $4.9 billion. His appointment is seen as a formal acknowledgment of his contributions to DXP's management team and reflects the trust the Board has in his capabilities.
DXP Enterprises reported a 5.7% sequential growth in Q4 2020 sales to $232.7 million. However, the earnings per diluted share stood at $(0.11), down from $0.12 in Q4 2019. For the full year, total sales were $1.0 billion, a decrease from $1.3 billion in 2019. Adjusted EBITDA for 2020 was $59.8 million, significantly lower than $93.6 million in 2019. The company closed six acquisitions, including four on December 31, and reported $101.1 million in free cash flow. Despite challenges from COVID-19, management expressed optimism for 2021.
DXP Enterprises, Inc. (NASDAQ:DXPE) is set to announce its financial results for the fourth quarter and full year ending December 31, 2020, on March 9, 2021, prior to the market opening. A conference call will follow at 10:30 A.M. Central Time, streamed live on the company’s website. Investors can access related materials, including the earnings press release and presentation slides, in the 'Investor Relations' section of their site after the market closes on March 8. Forward-looking statements are included, highlighting risks like capital acquisition and economic conditions.
DXP Enterprises, Inc. (NASDAQ: DXPE) announced the completion of acquisitions for Total Equipment Company, APO Pumps & Compressors (including Corporate Equipment Company), and Pumping Solutions, Inc. Financial details were not disclosed. The acquisitions enhance DXP's service capabilities and market diversification, particularly in water and wastewater sectors. Sales and adjusted EBITDA for these companies were approximately $114 million and $16 million, respectively, for the eleven months ending November 30, 2020. DXP expects the acquisitions to be accretive to earnings.
DXP Enterprises, Inc. (NASDAQ: DXPE) has closed a $330 million Senior Secured Term Loan B, maturing on December 23, 2027. The funds will repay the existing Term Loan B and support general corporate purposes, including potential acquisitions. The new loan is secured by the company's consolidated assets and priced at 4.75% over LIBOR, featuring leverage covenants ranging from 5.75:1 to 4.75:1. The refinancing enhances DXP's financial flexibility and liquidity, allowing for continued growth. Net debt to EBITDA stands at 2.6:1 following this transaction.
DXP Enterprises (NASDAQ: DXPE) reported third-quarter 2020 results with sales of $220.2 million, a drop from $327.2 million in Q3 2019. Earnings per diluted share were $(1.95), significantly lower than $0.71 in the same quarter last year. Excluding non-cash impairment charges totaling $48.4 million, adjusted earnings per share was $0.16. Free cash flow surged to $29.1 million compared to $5.3 million in Q3 2019. The company held $97.4 million in cash, with net debt reduced to $120.1 million. Despite a challenging economic environment, DXP remains focused on growth opportunities and cost management.
DXP Enterprises, Inc. (NASDAQ: DXPE) will announce its third-quarter financial results for the period ending September 30, 2020, on November 6, 2020, at 7:00 A.M. Central Time. A live conference call will follow at 10:30 A.M. Central Time, accessible via the company's website. Participants are urged to register ahead of time. The company emphasizes that forward-looking statements may involve risks and uncertainties that could cause actual results to differ significantly from those forecasted.