DXP Enterprises Inc., Houston, Tex. (NASDAQ: DXPE), MRO and industrial distributor, reported first-quarter sales for the period ending March 31, 2024, were $412.6 million, up $1.4% from fourth quarter 2023, and down 2.7% from a year ago.
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Profit for the first quarter of 2024 was $11.3 million, compared to $17.6 million for the first quarter of 2023.
First-quarter Service Center revenue was $288.4 million, a decrease of 5.7% year-over-year. Innovative Pumping Solutions revenue was $62.2 million, an increase of 21%. Supply Chain Services revenue was $62 million, a decrease of 7.5%.
David R. Little, CEO, said: “Our first-quarter results reflect sequential sales growth driven by acquisitions, strong free cash flow, and continued efforts to expand and grow our business.”
