Posted December 8, 2021

DXPE sales climb 31.5 percent

DXP Enterprises said its third-quarter 2021 sales increased 31.5 percent to $289.5 million, compared to $220.2 million for the third quarter of 2020.

Net income for the third quarter was $7.1 million, or 36 cents per share, compared to a loss of $34.7 million, or a loss of $1.95 per share, for the prior-year period.

Sales were $212.5 million for Service Centers, $40.5 million for Supply Chain Services and $36.4 million for Innovative Pumping Solutions.

"DXP's third quarter sales included year-over-year increases across all three business segments. Total DXP sales increased sequentially and were essentially flat from a sales per business day standpoint compared to Q2 with continued improvement in gross margins," said David R. Little, chairman and CEO. "Most of our customers and the markets we serve continue to show improvement. We remain encouraged by the sequential increases despite the continued choppiness associated with COVID-19 and the related supply chain issues. We added two acquisitions during the quarter and have more active deals that we expect to close moving into fiscal year 2022."