DXP Enterprises Reports Second-Quarter Sales Up 28.7% YOY

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All three DXP business segments saw a year-over-year increase.

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DXP Enterprises, Inc. (NASDAQ: DXPE) announced sales in the second quarter of 2022 were $367.8 million, a 15.2% sequential and 28.7% year-over-year increase. Net income was $14.4 million, compared with $8.1 million in the second quarter of 2021.

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Service Centers revenue for the second quarter was $251.1 million, Innovative Pumping Solutions revenue was $57.8 million and Supply Chain Services revenue was $58.9 million. All three business segments saw a year-over-year increase of 19.8%, 57.3% and 49.8%, respectively.

“Our second-quarter financial results reflect broad-based strength across DXP. We are pleased with our sequential and year-over-year sales growth and continual strength in EBITDA margins. We have underlying business momentum while our industry continues to effectively manage through inflationary pressures,” DXP Chairman and CEO David R. Little said.

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Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.

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