Company: DXPE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001020710-25-000036
Chunk: 149

Company: DXP ENTERPRISES INC
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 149
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2Income before income taxes84.9 4.787.0 5.265.9 4.5Provision for income tax expense14.5 0.818.1 1.117.8 1.2Net income70.4 3.968.9 4.148.1 3.2Net loss attributable to noncontrolling interest— —— —(0.1)—Net income attributable to DXP Enterprises, Inc.$70.4 3.9$68.9 4.1$48.2 3.3Earning per share:    Basic$4.44 $4.07  $2.58  Diluted$4.22 $3.89  $2.47  

Year Ended December 31, 2024 compared to Year Ended December 31, 2023

SALES.  Sales for the year ended December 31, 2024 increased $123.4 million, or 7.4%, to approximately $1.8 billion from $1.7 billion for the year ended December 31, 2023. The sales increase was primarily due to new acquisitions within our SC and IPS segments during the year ended December 31, 2024. Sales in our SC and IPS segments increased $23.1 million and $104.3 million, respectively, offset by a decrease in sales in our SCS segment of $4.0 million. The fluctuations in sales are further explained in our business segment discussions below.

Years Ended December 31(in thousands, except percentages)2024% Total2023(1)% TotalChangeChange %Sales by Business SegmentService Centers$1,222,599 67.9$1,199,501 71.5$23,098 1.9 %Innovative Pumping Solutions323,026 17.9218,731 13.0104,295 47.7 %Supply Chain Services256,415 14.2260,368 15.5(3,953)(1.5)%Total Sales$1,802,040 100.0$1,678,600 100.0$123,440 7.4 %(1) Prior period segment disclosures have been recast. For additional information, please refer to Note 20. Segment Reporting.

Service Centers Segment.  Sales for the Service Centers segment increased by $23.