DXP Yearly Sales Rise 10.8% - Modern Distribution Management

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DXP Yearly Sales Rise 10.8%

DXP Enterprises, Inc. reported 2021 sales of $1.1 billion after closing three acquisitions during the year.
DXP 2022 sales 3Q

Houston-based MRO and industrial distributor DXP Enterprises Inc. (NASDAQ: DXPE) reported fiscal 2021 sales of $1.1 billion, a 10.8% increase over 2020.

The company reported $70.2 million adjusted EBITDA and boasted three closed acquisitions for the year ending Dec. 31: Carter & Verplanck, Process Machinery and Premier Water.

In the fourth quarter of 2021, sales grew 26% to $293.1 million, compared to $232.7 million for the fourth quarter of 2020, DXP said.

“Given that our oil and gas customers’ budgets were significantly reduced and the impact of COVID were stronger during the first of half of 2021, impacting the industrial side of DXP, fiscal 2021 was a good transitional year,” said David R. Little, chairman and CEO. “DXP experienced growth in sales and gross margin resulting in 19.1 percent year-over-year growth in adjusted EBITDA. We are pleased with the overall financial performance in 2021. Similar to last year, fiscal 2021 was another unique year and presented corporate, societal and individual challenges. During the second half of 2021, we worked through accelerating supply chain headwinds and the beginning of meaningful inflation along with the continued impacts from COVID-19. DXP’s fiscal 2021 total sales were $1.1 billion a 10.8 percent increase year-over-year. Service Center sales were up 23.2 percent to $816.5 million, followed by Supply Chain Services growing 2.1 percent at $157.8 million and Innovative Pumping Solutions sales declined 25.8 percent to $139.6 million.”

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