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Mar 31, 2024
DXP Q1 2024 Earnings Report
DXP Enterprises reported results with sequential sales growth driven by acquisitions, strong free cash flow, and continued efforts to expand and grow the business.
Key Takeaways
DXP Enterprises, Inc. announced first quarter 2024 results, featuring $412.6 million in sales, GAAP diluted EPS of $0.67, non-GAAP diluted EPS of $0.74, and Adjusted EBITDA of $40.3 million. The company also reported free cash flow of $24.1 million, a 6.4 percent year-over-year increase, and completed the acquisitions of Hennesy Mechanical Sales, Kappe Associates, and Pro-Seal, Inc.
Sales increased 1.4 percent sequentially to $412.6 million.
Net income for the first quarter of 2024 was $11.3 million.
Adjusted EBITDA for the first quarter of 2024 was $40.3 million.
Free Cash Flow for the first quarter of 2024 was $24.1 million, compared to $22.6 million for the first quarter of 2023.
Revenue by Segment
Forward Guidance
DXP anticipates the second half of the year to drive growth as they benefit from increases in their project backlog and the diversification of their end markets. They expect to drive organic and acquisition driven growth as they move through fiscal 2024.
Positive Outlook
- Sequential sales growth driven by acquisitions
- Strong free cash flow
- Continued efforts to expand and grow our business
- Optimistic around market conditions
- Ability to execute growth initiatives
Challenges Ahead
- No specific negatives were mentioned in the provided text.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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