DXP Enterprises’ Sales UP 13.6% in 2Q - Modern Distribution Management

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DXP Enterprises’ Sales UP 13.6% in 2Q

DXP Enterprises’ net income for the second quarter was $8.1 million compared to $2.1 million for the prior-year period.
DXP 2022 sales 3Q

MRO and industrial distributor DXP Enterprises Inc. (NASDAQ: DXPE), Houston, reported second-quarter sales of $285.5 million, up 13.6% compared to the same quarter a year ago. Net income for the second quarter was $8.1 million compared to $2.1 million for the prior-year period.

“I am pleased that DXP’s performance continues to strengthen as we accelerate into the COVID-19 recovery,” said DPX Chairman and CEO David R. Little. “Our team continued to improve execution in the second quarter, driving sequential sales growth, and gross margin improvement while maintaining cost discipline. As a result of this performance and the team’s execution, we are confident we will continue to position DXP for long-term profitable growth and a positive outlook for the second half of 2021.

“During the second quarter, sales were $209.5 million for Service Centers, $39.3 million for Supply Chain Services and $36.7 million for Innovative Pumping Solutions. Most of our customers and the markets we serve continue to show improvement. We remain encouraged by the sequential increases despite the continued choppiness associated with COVID-19.”

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