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.
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.