The 2020 Mid-Year Economic Update_long

DXP Sales Up 24% in Second Quarter

Organic sales increased 4.2 percent for the period.

DXP Enterprises Inc. (NASDAQ: DXPE), Houston, TX, reported second-quarter sales of $381.6 million, up 23.9 percent over the same period a year ago. Organic sales grew 4.2 percent. Profit increased 13 percent to $15.5 million.

Service centers revenue was up 14.2 percent year-over-year, with a 10.2 percent operating income margin. Organic revenue was up 3.7 percent year-over-year. Innovative Pumping Solutions revenue was up 71 percent year-over-year with a 17.4 percent operating income margin. Organic revenue was down 0.3 percent. Supply chain services revenue was up 13.8 percent year-over-year, with an 8.5 percent operating margin.

For the six month period, sales were $730.1 million, up 22 percent from the prior-year period. Profit increased slightly to $27.2 million.

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