Strong Financial Performance
First quarter adjusted EBITDA of $52.5 million and adjusted diluted earnings per share of $1.26, supported by year-over-year sales growth of 15.5% and sequential sales growth of 1.2%.
Successful Acquisition Strategy
DXP closed one acquisition in the first quarter, Arroyo Process Equipment, contributing $31.1 million in sales. Two additional acquisitions are anticipated by the end of the second quarter.
Innovative Pumping Solutions Growth
Innovative Pumping Solutions led sales growth at 38.5% year-over-year, driven by strength in DXP Water and an increase in energy backlog.
Service Centers Sales Record
Service Centers established a new high water mark with sales at $327 million, growing 13.4% year-over-year.
Gross Margin Improvement
Gross margins improved by 151 basis points to 31.5% year-over-year, reflecting strong segment performance and favorable acquisition contribution.