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Breaking news in Wholesale Distribution
The distributor says Steven Breeden has been named district vice president for the company’s Seattle District effective July 1.
The industrial distributor reported 2022 first-quarter revenue of $439.5 million, up from $387.1 million in 1Q 2021.
The Pittsburgh, Pennsylvania-based company record first-quarter net sales of $4.9 billion, up 22% from 1Q 2021.
The Texas-based supplier also reported that 1Q 2022 net income was $30 million.
It comes a month after a merger between Lawson, TestEquity and Gexpro Services and a week after Lawson reported strong 1Q earnings.
For the month, the distributor reported net sales of $570.76 million, up from more than $497 million in April 2021.
The growing distributor says revenue increased 33% in 2021, and it expects to top that this year.
DXP Enterprises, Inc. says the deal adds scale and complements the company’s previous air compressor acquisitions.
The global packaging company has named Scott Beamer chief financial officer and Declan McCarthy president of TricorBraun Europe.
The company’s board of directors declared a regular quarterly cash dividend of $0.895 per share on common stock.
