Company: DXPE
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001020710-25-000081
Chunk: 65

Company: DXP ENTERPRISES INC
Filing Date: 2025-04-30
Form: ARS
Chunk 65
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; and (iii) performing a comparison of the originally estimated and actual costs of materials incurred on similar completed contracts. Table of Contents 47

/s/ PricewaterhouseCoopers LLP Houston, Texas March 10, 2025 We have served as the Company’s auditor since 2022. Table of Contents 48

DXP ENTERPRISES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands, except per share amounts) Twelve Months Ended December 31, 2024 2023 2022 Sales $ 1,802,040 $ 1,678,600 $ 1,480,832 Cost of sales 1,245,763 1,173,309 1,058,794 Gross profit 556,277 505,291 422,038 Selling, general and administrative expenses 410,895 366,569 324,286 Income from operations 145,382 138,722 97,752 Interest expense 63,927 53,146 29,135 Other (income) expense, net (Note 18) (3,517) (1,355) 2,716 Income before income taxes 84,972 86,931 65,901 Provision for income taxes 14,483 18,119 17,799 Net income 70,489 68,812 48,102 Net loss attributable to noncontrolling interest — — (53) Net income attributable to DXP Enterprises, Inc. 70,489 68,812 48,155 Preferred stock dividend 90 90 90 Net income attributable to common shareholders $ 70,399 $ 68,722 $ 48,065 Net income $ 70,489 $ 68,812 $ 48,102 Foreign currency translation adjustments (2,370) 435 (2,393) Comprehensive income $ 68,119 $ 69,247 $ 45,709 Earnings per share (Note 12): Basic $ 4.44 $ 4.07 $ 2.58 Diluted $ 4.22 $ 3.89 $ 2.47 Weighted average common shares outstanding: Basic 15,861 16,870 18,631 Diluted 16,701 17,710 19,471 The accompanying notes are an integral part of these consolidated financial statements. Table of Contents 49

DXP ENTERPRI