DXP Enterprises ( (DXPE) ) has released its Q4 earnings. Here is a breakdown of the information DXP Enterprises presented to its investors.
DXP Enterprises, Inc. is a prominent distributor providing industrial products and services across the United States, Canada, Mexico, and the U.A.E., specializing in innovative pumping solutions, supply chain services, and maintenance, repair, operating, and production services.
In its latest earnings report for the fiscal year 2024, DXP Enterprises announced a notable increase in sales, reaching $1.8 billion, a 7.4% rise from the previous year. The company also reported a full-year GAAP diluted earnings per share of $4.22 and a net income of $70.5 million, slightly up from $68.8 million in fiscal 2023.
Key financial metrics highlighted in the report include an adjusted EBITDA of $191.3 million, marking a 9.8% increase from the previous year, and a free cash flow of $77.1 million. The company also completed seven acquisitions during the year and refinanced its Senior Secured Term Loan B, raising $649.5 million and reducing borrowing costs by 100 basis points.
The company’s business segments showed varied performance, with Innovative Pumping Solutions experiencing a remarkable 47.7% revenue increase, while the Service Centers and Supply Chain Services saw modest growth and a slight decline, respectively. DXP Enterprises remains optimistic about its growth strategy, focusing on expanding its core business and exploring new market opportunities.
Looking ahead, DXP Enterprises is poised for continued growth in 2025, driven by strong sales momentum and strategic acquisitions. The company’s management remains confident in its ability to leverage market dynamics and maintain operational discipline to drive shareholder value.