The 2020 Mid-Year Economic Update_long

DXP Enterprises Sales Grow 13.7% in 3Q

During the first nine months, DXP spent $61 million on acquisitions.

Houston-based DXP Enterprises Inc. (NASDAQ: DXPE), No. 16 on MDM’s 2013 list of the top 40 industrial distributors, announced sales for the third quarter of $329.7 million, an increase of 13.7 percent compared to the same period a year ago. Profit increased 25.2 percent to $16.4 million.

For the first nine months, sales were $927.8 million, an increase of 15.4 percent compared to the same period a year ago. Profit increased 17.3 percent to $43.3 million.

“Through the first nine months of 2013, DXP spent approximately $61 million on acquisitions achieving our goal of 10 percent inorganic growth,” Mac McConnell, senior vice president and CFO, said. “Our leverage ratio under our credit facility at September 30, 2013 is 1.8:1, giving us substantial room for future acquisitions.”

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