Business
DXP Enterprises Provides Update on Fiscal 2022 Financial Performance
Preliminary Fiscal 2022 sales increase of 26% to 31%, versus 2021 Preliminary EBITDA increase of 63% to 78% versus 2021 HOUSTON--(BUSINESS WIRE)-- DXP
About this update from Dxp Enterprises, Inc.
[{"type":"text","content":"\n\nPreliminary Fiscal 2022 sales increase of 26% to 31%, versus 2021\n\n\nPreliminary EBITDA increase of 63% to 78% versus 2021\n\n\n HOUSTON--(BUSINESS WIRE)--\nDXP Enterprises, Inc. (NASDAQ: DXPE), is pleased to provide shareholders with a preannouncement of DXP’s financial performance for the fiscal year ending December 31, 2022, which features significant growth in sales, operating income, earnings before interest, taxes, depreciation, and amortization (\"EBITDA\") and diluted earnings per common share (“EPS”).\n\nPreliminary Financial Highlights:\n\n\nFiscal 2022 sales expected to be in the range of $1.40 billion to $1.46 billion, an increase of 26% to 31%, compared to fiscal 2021.\n\n\nFiscal 2022 GAAP operating income expected to be in the range of $80 to $90 million, an increase of 101% to 126%, compared to fiscal 2021.\n\n\nFiscal 2022 EBITDA is expected to be in the range of $110 to $120 million, an increase of 63% to 78%, compared to fiscal 2021.\n\n\nFiscal 2022 EPS is expected to be in the range of $1.92 to $2.07, an increase of 131% to 149%, compared to 2021.\n\n\nPreliminary Financial Results:\n\nThe preliminary results above are unaudited and are based on management’s initial review of DXP’s financial results for the fiscal year ended December 31, 2022. In preparing this information, management made complex and subjective judgments and estimates about the appropriateness of certain reported amounts and disclosures. Our actual financial results for the twelve months ended December 31, 2022, have not yet been finalized by management and remain subject to the completion of management’s final review and our other closing procedures, as well as the completion of the integrated audit of our annual financial statements. These preliminary estimated results do not represent a comprehensive statement of all financial results for the fiscal year ended December 31, 2022. We are required to consider all available information through the finalization of our financial statements and their possible impact on our financial conditions and results of operations for the period, including the impact of such information on the complex judgments and estimates referred to above.\n\nFiscal 2022 preliminary results (dollars in millions, except per share amounts):\n\n\n\n \n\n\n\n \n\n\n\nPreliminary\n\n\n\n \n\n\n\nChange from\nPrior Yea...