The latest trading session saw DXP Enterprises (DXPE) ending at $53.23, denoting a +1.95% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.32% for the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.2%.The industrial products supplier's shares have seen an increase of 52.08% over the last month, surpassing the Industrial Products sector's gain of 7.87% and the S&P 500's gain of 5.11%.Market participants will be closely following the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _________ to _________. Commission file number 0-21513 DXP Enterprises, Inc. (Exact name of registrant as specified in its charter) Texas 5301 Hollister, Houston, Texas 770 ...

Financial Data and Key Metrics - Total sales for fiscal 2023 increased by 13.4% to $1.7 billion, with Service Centers leading at $1.1 billion, followed by Innovative Pumping Solutions at $273 million and Supply Chain Services at $260 million [3][23] - Operating income increased by 166 basis points to $138.7 million compared to fiscal 2022 [5] - Adjusted EBITDA for fiscal 2023 was $174.3 million, a 32.4% increase year-over-year, with adjusted EBITDA margins at 10.38%, up 182 basis points [20][28] - Gross profit margins improved by 160 basis points to 30.1% in fiscal 2023, driven by strength in the Innovative Pumping Solutions segment [20][64] - Net income for fiscal 2023 was $68.8 million, with diluted earnings per share at $3.89, or $4.9 when adjusted for one-time items [66] Business Segment Performance - Service Centers grew 13.5% year-over-year, driven by diverse end markets and MRO nature, with notable growth in regions like North Rockies, Alaska, Texas Gulf Coast, and South Central [3][50] - Innovative Pumping Solutions (IPS) grew 18.2% year-over-year, with a 349 basis point improvement in gross margins and a 324 basis point improvement in operating income margins [24][64][65] - Supply Chain Services grew 8.3% year-over-year, with operating income margins improving by 14 basis points, though it experienced a decline in Q3 and Q4 [5][24][25] Market Performance - Energy accounted for 25% of the business, followed by chemical at 10%, water and wastewater at 7%, food and beverage at 7%, manufacturing at 8%, and general industry at 12% [37] - The IPS backlog for energy and water-related projects continued to grow, with Q4 energy-related backlog up 5.2% over Q3 and 37% above industry levels [18][26][51] - Regional growth was strong in North Rockies, Alaska, Texas Gulf Coast, and South Central, with air compressors and rotating equipment driving sales [43][50] Strategic Direction and Industry Competition - The company aims to double its size over the next three to five years through strategic investments, acquisitions, and operational efficiencies [14][17] - DXP completed three acquisitions in 2023 (Florida Valve & Equipment, Riordan, and Alliance Pump Mechanical) and expects to close one to three more by mid-2024 [16][56] - The company is focusing on diversifying end markets, particularly in water and wastewater, and leveraging its acquisition strategy to scale in existing and new markets [17][38] Management Commentary on Operating Environment and Future Outlook - Management highlighted the resilience of the business model, with strong organic growth and a focus on driving operating efficiencies while growing the business [11][12] - The company expects to benefit from the early stages of an energy upcycle, supported by energy transition trends [80] - DXP is committed to maintaining 10%+ sales growth and 10%+ adjusted EBITDA margins, with a focus on managing working capital and generating free cash flow [36][21] Other Important Information - The company refinanced its Term Loan B in Q4 2023, reducing borrowing costs by 50 basis points and raising $125 million in capital for acquisitions and investments [67] - Free cash flow for fiscal 2023 was $94 million, with a 54% conversion rate to EBITDA, reflecting strong cash flow generation and working capital management [30][57] - DXP returned $54.7 million to shareholders through share repurchases in fiscal 2023, buying back 1.7 million shares [56] Q&A Session Summary Question: Can you provide color on quarter-to-date trends for daily sales, including recent acquisitions? - Sales per business day in October were $6.392 million, November $6.553 million, December $7.125 million, January $5.9 million, and February $6.37 million, with January up 4.5% and February up 2.5% year-over-year [59] - Q1 2024 will have 63 business days, three fewer than March 2023 [60] Question: How are you thinking about Q1 adjusted EBITDA margins progressing versus Q4 2023? - EBITDA margins are influenced by business mix, with a goal of maintaining 10%+ margins, assuming all businesses perform as expected [73]

NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS DXP ENTERPRISES REPORTS FOURTH QUARTER AND FISCAL 2023 RESULTS Page 1 • Fiscal 2023 sales of $1.7 billion, up 13.4 percent from fiscal 2022 • Solid full Year GAAP diluted EPS of $3.89 • $174.3 million in adjusted earnings before interest, taxes, depreciation, amortization and other non-cash charges ("Adjusted EBITDA") • Net income of $68.8 million versus $48.2 million in fiscal 2022 • Refinanced Senior ...

HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced financial results for the fourth quarter and fiscal year ended December 31, 2023. The following are results for the three and twelve months ended December 31, 2023, compared to the three and twelve months ended December 31, 2022. A reconciliation of the non-GAAP financial measures can be found in the back of this press release. Fourth Quarter 2023 financial highlights: Sales were $407.0 million or $6.7 million per day for th ...

HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it has completed the acquisition of Pro-Seal, Inc. (“Pro-Seal”). Founded in 1987, Pro-Seal is headquartered in Pontiac, Michigan and operates out of two locations servicing the Great Lakes Region of the U.S. and all of Alaska. Pro-Seal is a leading distributor of pumping systems, fluid sealing and related seal support systems and other industrial pumping equipment and services and lubricants. DXP funded the acquisition wi ...

DXP Enterprises (DXPE) ended the recent trading session at $35.12, demonstrating a -1.27% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.12%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.41%.Shares of the industrial products supplier have appreciated by 9.61% over the course of the past month, outperforming the Industrial Products sector's gain of 6.08% and the S&P 500's gain of 4.83%.Investors will be eagerly watching ...

HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ:DXPE), a leading products and service distributor that adds value and total cost savings solutions to MRO and OEM customers in virtually every industry, plans to issue a press release announcing its financial results for the fourth quarter and year ended December 31, 2023, on Thursday, March 7th. The earnings announcement will be released before the market opens. DXP will host a conference call, to be webcast live, on the Company’s website (www.dxpe.co ...

The latest trading session saw DXP Enterprises (DXPE) ending at $35.16, denoting a +0.46% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.13%.Shares of the industrial products supplier have appreciated by 6.03% over the course of the past month, underperforming the Industrial Products sector's gain of 6.21% and outperforming the S&P 500's gain of 4.74%.Market participants will be closely follow ...

In the latest trading session, DXP Enterprises (DXPE) closed at $34.24, marking a -1.27% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.6%. On the other hand, the Dow registered a loss of 0.17%, and the technology-centric Nasdaq decreased by 0.92%.Coming into today, shares of the industrial products supplier had gained 6.97% in the past month. In that same time, the Industrial Products sector gained 5.78%, while the S&P 500 gained 3.56%.The upcoming earnings relea ...