Business
DXP Enterprises Provides Update on Q2 Performance and Sets New Date for Earnings Release
HOUSTON--(BUSINESS WIRE)-- DXP Enterprises, Inc. (NASDAQ: DXPE) is pleased to provide shareholders with a preannouncement of DXP’s performance for the three
About this update from Dxp Enterprises, Inc.
[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nDXP Enterprises, Inc. (NASDAQ: DXPE) is pleased to provide shareholders with a preannouncement of DXP’s performance for the three months ended June 30, 2021, which features growth in sequential sales, improvement in gross margins and solid free cash flow generation.\n\nDavid R. Little, Chairman and CEO commented, “Today, based on preliminary financial information, we are pleased to announce sequential sales growth in all three business segments for the second quarter of 2021. I am pleased that DXP’s performance continues to strengthen as we accelerate into the COVID-19 recovery. Most of our customers and the markets we serve continue to show improvement. We remain encouraged by the sequential increases despite the continued choppiness. Thank you to all our customers and DXPeople for the support and efforts to remain safe and healthy while moving forward.”\n\nPreliminary Results:\n\n($ thousands, unaudited)\n\n\n\n \n\n\n\nThree Months Ended June 30,\n\n\n\n \n\n\n\nSix Months Ended June 30,\n\n\n\n\n\nSales\n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n\n\nService Centers\n\n\n\n$\n\n\n\n209,458\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n153,848\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n395,856\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n336,433\n\n\n\n \n\n\n\n\n\nInnovative Pumping Solutions\n\n\n\n36,727\n\n\n\n \n\n\n\n \n\n\n\n60,479\n\n\n\n \n\n\n\n \n\n\n\n59,972\n\n\n\n \n\n\n\n \n\n\n\n130,500\n\n\n\n \n\n\n\n\n\nSupply Chain Services\n\n\n\n39,331\n\n\n\n \n\n\n\n \n\n\n\n37,074\n\n\n\n \n\n\n\n \n\n\n\n75,304\n\n\n\n \n\n\n\n \n\n\n\n85,451\n\n\n\n \n\n\n\n\n\nTotal DXP Sales\n\n\n\n$\n\n\n\n285,516 \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n251,401 \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n531,132 \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n552,384 \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\nOther Items:\n\n\n\n \n\n\n\nThree Months Ended June 30,\n\n\n\n \n\n\n\nSix Months Ended June 30,\n\n\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNet cash from operating activities\n\n\n\n$\n\n\n\n11,403\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n63,376\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n21,955\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n61,764\n\n\n\n \n\n\n\...