Strong Sales and Growth Performance
DXP delivered a sequential growth of 4.7% and a year-over-year growth of 11.9%. Total sales for Q2 increased to $498.7 million with an average of $7.9 million per business day.
Record Adjusted EBITDA Margins
The second quarter resulted in an adjusted EBITDA of $57.3 million or 11.5% of sales, setting a new all-time high in adjusted EBITDA margins.
Innovative Pumping Solutions (IPS) Performance
IPS led the way with a sales growth of 27.5% year-over-year. The energy business is up 37.3% year-over-year, and the water platform experienced its 11th consecutive quarter of sequential sales growth.
Successful M&A Strategy
DXP completed three acquisitions, including Oreo Process Equipment, McBride, and Moores Pump, enhancing its diversification strategy.
Strong Financial Position
DXP has a strong balance sheet with a secured leverage ratio of 2.4:1 and liquidity of $219 million, including $112.9 million in cash.