DXP Enterprises, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:08 am IST
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DXP Enterprises, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 419.25 million compared to USD 387.31 million a year ago. Net income was USD 16.17 million compared to USD 13.93 million a year ago. Diluted earnings per share from continuing operations was USD 0.93 compared to USD 0.71 a year ago.
For the nine months, sales was USD 1,271.56 million compared to USD 1,074.54 million a year ago. Net income was USD 52.81 million compared to USD 41 million a year ago. Diluted earnings per share from continuing operations was USD 2.94 compared to USD 2.1 a year ago.
DXP Enterprises, Inc. is a products and service distributor that offers solutions to industrial customers. It provides pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services. It has three segments: Service Centers (SC), Innovative Pumping Solutions (IPS) and Supply Chain Services (SCS). SC segment is engaged in providing MRO products, equipment and services, including technical expertise and logistics capabilities, to a variety of customers serving varied end markets with the ability to provide same day delivery. IPS segment provides integrated, custom pump skid packages, pump remanufacturing and manufactures branded private label pumps. SCS segment provides fully outsourced MRO solutions for sourcing MRO products, including inventory optimization and management, storeroom management, transaction consolidation and control, vendor oversight and procurement cost optimization, productivity improvement services, and customized reporting.