Company: DXPE
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001020710-25-000092
Chunk: 27

Company: DXP ENTERPRISES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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ITEM 1: FINANCIAL STATEMENTS

DXP ENTERPRISES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

AND COMPREHENSIVE INCOME

(in thousands, except per share amounts) (unaudited)

 Three Months Ended March 31, 20252024Sales$476,569 $412,635 Cost of sales326,304 288,753 Gross profit150,265 123,882 Selling, general and administrative expenses109,750 94,751 Income from operations40,515 29,131 Interest expense14,660 15,544 Other income, net (Note 15)(1,318)(1,968)Income before income taxes27,173 15,555 Provision for income taxes6,584 4,223 Net income 20,589 11,332 Preferred stock dividend23 23 Net income attributable to common shareholders20,566 11,309 Net income $20,589 $11,332 Foreign currency translation adjustments86 (614)Comprehensive income $20,675 $10,718 Earnings per share (Note 9):     Basic$1.31 $0.70      Diluted$1.25 $0.67 Weighted average common shares outstanding:     Basic15,698 16,128      Diluted16,538 16,968  

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

3

   DXP ENTERPRISES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share amounts) (unaudited)

March 31, 2025December 31, 2024ASSETS Current assets:  Cash$114,283 $148,320 Restricted cash— 91 Accounts receivable, net of allowance of $3,537 and $5,172, respectively357,764 339,365 Inventories109,876 103,113 Costs and estimated profits in excess of billings47,844 50,735 Prepaid expenses and other current assets31,989 20,250 Total current assets661,756 661,874 Property and equipment, net97,658 81,556 Good