Posted March 8, 2019

DXPE 2018 sales climb 20.8 percent

DXP Enterprises announced that its fourth-quarter sales increased 17.1 percent to $311.0 million, compared to $265.6 million for the fourth quarter of 2017.

Net income of $11.1 million, or 60 cents per diluted share, compared to $6.6 million, or 36 cents, in the same quarter last year.

For the full year, sales increased 20.8 percent to $1.2 billion, compared to $1.0 billion for 2017. Full-year net income of $35.5 million, or $1.94 per share, compared to $16.8 million, or 93 cents, in 2017. 

Fiscal 2018 sales for Innovative Pumping Solutions grew 43.0 percent to $291.7 million, Service Centers grew 17.0 percent to $750.0 million and Supply Chain Services grew 8.0 percent to $174.5 million.

“We are pleased with our fourth quarter results which wrapped up a tremendous fiscal 2018. In 2018, we returned to the sales growth we are accustomed to experiencing. This was driven through a combination of strong organic sales from our core, complemented by the acquisition of Application Specialties," said David R. Little, chairman and CEO.