The 2020 Mid-Year Economic Update_long

DXP Enterprises Sales Grow 17.4% in 3Q

Year-to-date sales jump 20.4 percent.

DXP Enterprises Inc. (NASDAQ: DXPE), Houston, TX, reported sales for the third quarter of $387.1 million, an increase of 17.4 percent compared to the same period a year ago. Profit increased 7.9 percent to $17.6 million.

Service centers revenue was up 9.7 percent year-over-year, with an 11.5 percent operating income margin. Organic revenue was up 2.5 percent year-over-year.

Innovative pumping solutions revenue was up 45 percent year-over-year with a 16.9 percent operating income margin. Organic revenue was down 3.5 percent.

Supply chain services revenue was up 20.2 percent year-over-year, with an 8.6 percent operating margin.

For the first nine months, sales were $1.1 billion, an increase of 20.4 percent compared to the same period a year ago. Profit increased 3.4 percent to $4.8 million.

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