DXP Q2 2023 Earnings Report
Key Takeaways
DXP Enterprises, Inc. announced financial results for the second quarter ended June 30, 2023, featuring a 16.4% year-over-year increase in sales to $428.0 million and net income attributable to common shareholders of $19.0 million, compared to $14.4 million in Q2 2022. The company also reported adjusted EBITDA of $45.3 million and completed the acquisitions of Riordan Materials Corporation, Florida Valve & Equipment Corp., and Environmental MD.
Sales increased 16.4 percent year-over-year to $428.0 million.
Net income attributable to common shareholders was $19.0 million, up from $14.4 million in Q2 2022.
GAAP diluted EPS reached $1.06 compared to $0.74 per share in the previous year.
Adjusted EBITDA was $45.3 million, compared to $32.6 million for the second quarter of 2022.
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DXP Revenue by Segment
Forward Guidance
DXP is optimistic that they can show continued sales and profit improvement during the second half of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income