DXP Enterprises, Inc. (NASDAQ: DXPE) announced sales for the third quarter of 2022 were $387.3 million, a 5.3% sequential and 33.8% increase compared with the prior-year period. Net income was $13.2 million.
Service Centers revenue for the third quarter was $260.1 million, Innovative Pumping Solutions revenue was $59 million, and Supply Chain Services revenue was $68.2 million. All three business segments saw a year-over-year increase of 22.4%, 62% and 68.3%, respectively.
“Thanks to solid execution by our employees, DXP posted strong record sales results for our third quarter of 2022. Our sales growth is being fueled by diversifying into new markets, selling innovative products in new and existing markets, and helping our customers with environmental projects. Our acquisition strategy is focused on stable essential markets that are environmentally friendly,” DXP Chairman and CEO David R. Little said.