Company: DXPE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001020710-25-000036
Chunk: 95

Company: DXP ENTERPRISES INC
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1
Chunk 95
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ITEM 1.  Business

Company Overview

Founded in 1908, DXP Enterprises, Inc. (together with our subsidiaries, hereinafter referred to as “DXP” or the “Company” or by the terms such as we, our, or us) was incorporated in Texas in 1996 to be the successor to SEPCO Industries, Inc. Since our predecessor company was founded, we have primarily been engaged in the business of distributing maintenance, repair and operating (“MRO”) products, equipment and service to customers in a variety of end markets including the general industrial, energy, food & beverage, chemical, transportation, water and wastewater. The Company is organized into three business segments: Service Centers (“SC”), Innovative Pumping Solutions (“IPS”) and Supply Chain Services (“SCS”). Sales, operating income, and other financial information for 2024, 2023 and 2022, and identifiable assets at the close of such years for our business segments are presented in Note 20 – Segment Reporting to the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data.

Summary Sales and Operating Income by Business Segment

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Our total sales have increased from $125 million in 1996 to $1.8 billion in 2024 through a combination of internal growth and business acquisitions. The following table shows, as of the end of the last 10 fiscal years, our consolidated sales; total number of locations; the number of SC facilities, IPS facilities, SCS customer sites; and the corresponding sales and average sales per business segment location:

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Ten Year Consolidated and Business Segment Summary

($ in millions)2024202320222021202020192018201720162015Sales$1,802 $1,679 $1,481 $1,114 $1,005 $1,265 $1,216 $1,007 $962 $1,247 Locations279264275252247244249243245260SC sales$1,223 $1,200 $1,041 $816 $663 $762 $750 $641 $621 $827 SC facilities161161160152158145155165167179Avg. SC sales/facility$7.6 $7.5 $6.5 $5.4 $4.2 $5.3 $4.8