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Published on 10 May 2024 on GuruFocus.com via Yahoo Finance

DXP Enterprises Inc (DXPE) Reports Q1 2024 Earnings: Misses Revenue and Earnings Projections


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Revenue: $412.6 million, down 2.7% year-over-year from $424.3 million, below estimates of $457.0 million.Net Income: $11.3 million, down significantly from $17.6 million in the prior year, below the estimated $16.0 million.EPS (Non-GAAP diluted): $0.74, compared to $0.95 year-over-year, below the estimated $0.94.Free Cash Flow: Increased to $24.1 million, up 6.4% from $22.6 million in the previous year.Adjusted EBITDA: $40.3 million, down from $43.1 million year-over-year, with a margin decrease to 9.8% from 10.2%.Acquisitions: Completed the acquisitions of Hennesy Mechanical Sales, Kappe Associates, and Pro-Seal, Inc., enhancing service offerings and market reach.Cash Position: Ended the quarter with $139.7 million in cash, supporting strategic initiatives and operational needs.

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