DXP Enterprises, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
March 07, 2024 at 09:15 am EST
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DXP Enterprises, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 1,678.6 million compared to USD 1,480.83 million a year ago. Net income was USD 68.81 million compared to USD 48.16 million a year ago.
Basic earnings per share from continuing operations was USD 4.07 compared to USD 2.58 a year ago. Diluted earnings per share from continuing operations was USD 3.89 compared to USD 2.47 a year ago.
DXP Enterprises, Inc. is a products and service distributor that offers solutions to industrial customers. It provides pumping solutions, supply chain services and maintenance, repair, operating and production (MROP) services. It has three segments: Service Centers (SC), Innovative Pumping Solutions (IPS) and Supply Chain Services (SCS). SC segment is engaged in providing MRO products, equipment and services, including technical expertise and logistics capabilities, to a variety of customers serving varied end markets with the ability to provide same day delivery. IPS segment provides integrated, custom pump skid packages, pump remanufacturing and manufactures branded private label pumps. SCS segment provides fully outsourced MRO solutions for sourcing MRO products, including inventory optimization and management, storeroom management, transaction consolidation and control, vendor oversight and procurement cost optimization, productivity improvement services, and customized reporting.