Business
DXP Enterprises Reports Fourth Quarter and Fiscal 2024 Results
Fiscal 2024 sales of $1.8 billion, up 7.4 percent from fiscal 2023 Full year GAAP diluted EPS of $4.22 $191.3 million in adjusted earnings before interest,
About this update from Dxp Enterprises, Inc.
[{"type":"text","content":"\n\nFiscal 2024 sales of $1.8 billion, up 7.4 percent from fiscal 2023\n\n\nFull year GAAP diluted EPS of $4.22\n\n\n$191.3 million in adjusted earnings before interest, taxes, depreciation, amortization and other non-cash charges (\"Adjusted EBITDA\")\n\n\nNet income of $70.5 million versus $68.8 million in fiscal 2023\n\n\nRefinanced our Senior Secured Term Loan B raising $649.5 million and reduced borrowing costs by 100 basis points\n\n\nRepurchased 0.6 million shares for $28.8 million in fiscal 2024\n\n\n$148.4 million in cash and restricted cash\n\n\nRemediated all previously existing material weaknesses\n\n\nCompleted seven acquisitions during the fiscal year\n\n\n HOUSTON--(BUSINESS WIRE)--\nDXP Enterprises, Inc. (NASDAQ: DXPE) today announced financial results for the fourth quarter and fiscal year ended December 31, 2024. The following are results for the three and twelve months ended December 31, 2024, compared to the three and twelve months ended December 31, 2023. A reconciliation of the non-GAAP financial measures can be found in the back of this press release.\n\nFourth Quarter 2024 financial highlights:\n\n\nSales were $470.9 million for the fourth quarter of 2024, compared to $407.0 million for the fourth quarter of 2023.\n\n\nDiluted earnings per share for the fourth quarter of 2024 was $1.29 based upon 16.5 million diluted shares, compared to $0.94 per share in the fourth quarter of 2023 based on 17.0 million diluted shares. Adjusted diluted earnings per shares was $1.38 per share compared to $1.12 per share for the fourth quarter of 2023.\n\n\nAdjusted earnings before interest, taxes, depreciation and amortization and other non-cash charges (\"Adjusted EBITDA\") for the fourth quarter of 2024 was $50.3 million compared to $41.9 million for the fourth quarter of 2023. Adjusted EBITDA as a percentage of sales was 10.7 percent and 10.3 percent, respectively.\n\n\nFree cash flow (cash flow from operating activities less capital expenditures) for the fourth quarter was $22.7 million or 46.4 percent of EBITDA.\n\n\nFiscal Year 2024 financial highlights:\n\n\nSales increased 7.4 percent to $1.8 billion, compared to $1.7 billion for fiscal 2023.\n\n\nDiluted earnings per share for 2024 was $4.22 based upon 16.7 million diluted shares, compared to $3.89 per share in 2023, based on 17.7 million basic shares. Adjusted di...