DXP Says its 2022 Sales Topped $1.4B as EBITDA Soared - Modern Distribution Management

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DXP Says its 2022 Sales Topped $1.4B as EBITDA Soared

DXP made four acquisitions during 2022 and ended the year by raising $105 million in borrowings to fund further growth.
DXP 2022 sales 3Q

On March 20, Houston-based industrial distributor DXP Enterprises provided an update on its 2022 financial performance. According to its preliminary fiscal results, DXP’s 2022 sales are expected to have increased 26% to 31% compared to 2021’s $1.1 billion.

While its 2022 financial results aren’t yet finalized, DXP management’s initial review estimated total 2022 sales to be in the range of $1.4 billion to $1.46 billion. Alongside the major sales increase, DXP said its EBITDA saw a considerably higher jump, with the company estimating its 2022 EBITDA to be in the range of $110 to $120 billion — an increase of between 63% and 78% compared to 2021.

DXP’s 2022 operating income is expected to be in the range of $80 to $90 billion, an increase of 101% to 126% over 2021, according to the report. Earnings per share (EPS) is expected to be between $1.92 to $2.07, an increase of 131% to 149% compared to 2021.

In preparing its preliminary report, DXP’s management team made “complex and subjective judgments and estimates about the appropriateness of certain reported amounts and disclosures,” the company said. DXP’s actual results for the 2022 fiscal year remain subject to the completion of “management’s final review and our other closing procedures, as well as the completion of the integrated audit of our annual financial statements.” DXP will host a conference call for its 2022 fiscal results “as soon as practicable and upon completing our fiscal 2022 audit.”

DXP ranked as the No. 11 MRO Industrial Distributor, No. 23 Industrial Distributor and was also listed among the top Safety Distributors on MDM’s Top Distributors lists in 2022. The company made four acquisitions in 2022 and finished the year by raising $105 million, giving DXP further operational and financial flexibility to pursue its strategy of organic and targeted acquisition growth.


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