DXP Q3 2023 Earnings Report
Key Takeaways
DXP Enterprises, Inc. announced financial results for the third quarter ended September 30, 2023. Sales increased by 8.2 percent to $419.2 million, net income increased by 16.1 percent to $16.2 million, and diluted earnings per share increased to $0.93. Adjusted EBITDA was $44.0 million, and Free Cash Flow was $38.3 million.
Sales increased 8.2 percent year-over-year to $419.2 million.
Net income increased 16.1 percent year-over-year to $16.2 million.
Earnings per diluted share increased to $0.93, up 31.0 percent compared to Q3 2022.
Adjusted EBITDA was $44.0 million, with an Adjusted EBITDA Margin of 10.5 percent.
DXP
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DXP Revenue by Segment
Forward Guidance
DXP Enterprises expects to finish fiscal year 2023 strong with momentum continuing into fiscal year 2024.
Positive Outlook
- Anticipated acquisition growth
- Maintaining liquidity
- Maintaining flexibility
- Well positioned to outgrow the market
- Generate improved operating margins and returns
Revenue & Expenses
Visualization of income flow from segment revenue to net income