The following is a summary of the DXP Enterprises, Inc. (DXPE) Q1 2024 Earnings Call Transcript:

Financial Performance:

• DXP Enterprises reported Q1 adjusted EBITDA of $40.3 million, a 1.4% sequential increase in revenues totaling $412.6 million.

• The company delivered adjusted diluted earnings of $0.74 per share.

• Gross profit margins improved to 30%, coupled with a total operating income of $29.1 million.

• The company utilized $16.8 million in share repurchase, buying back 326,000 shares during Q1.

• DXP Enterprises reported a free cash flow of $24.1 million in Q1.

Business Progress:

• DXP Enterprises successfully closed three acquisitions in Q1, strengthening its diversity and business prospects.

• Their concerted efforts in enhancing customer service and operational improvements resulted in a sequential sales growth of 1.4%.

• The company anticipates robust organic and inorganic growth and progress with the business diversification strategy.

• Investments in business, software, facilities, and operations for employees are on the horizon, coupled with planning for future strategic acquisitions.

• The company is optimistic about the strong performance of Innovative Pumping Solutions over the next 9 to 15 months.

• DXP's growth strategy includes capturing national accounts for rotating equipment business, new product capacity additions, and strategic acquisitions particularly in the water/wastewater segment and industrial equipment distributors.

More details: DXP Enterprises IR

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