HOUSTON — DXP Enterprises Inc. provided shareholders with a pre-announcement of DXP’s financial performance for the fiscal year ending Dec. 31, 2022, which features significant growth in sales, operating income, earnings before interest, taxes, depreciation, and amortization (EBITDA) and diluted earnings per common share.
Preliminary financial highlights:
- Fiscal 2022 sales expected to be in the range of $1.40 billion to $1.46 billion, an increase of 26% to 31%, compared to fiscal 2021.
- GAAP operating income expected to be in the range of $80 to $90 million, an increase of 101% to 126%, compared to fiscal 2021.
- EBITDA is expected to be in the range of $110 to $120 million, an increase of 63% to 78%, compared to fiscal 2021.
- EPS is expected to be in the range of $1.92 to $2.07, an increase of 131% to 149%, compared to 2021.
The preliminary results above are unaudited and are based on management’s initial review of DXP’s financial results for the fiscal year ended Dec. 31. In preparing this information, management made complex and subjective judgments and estimates about the appropriateness of certain reported amounts and disclosures.
The actual financial results for the 12 months ended Dec. 31, 2022, have not yet been finalized by management and remain subject to the completion of management’s final review and our other closing procedures, as well as the completion of the integrated audit of our annual financial statements. These preliminary estimated results do not represent a comprehensive statement of all financial results for the fiscal year. We are required to consider all available information through the finalization of our financial statements and their possible impact on our financial conditions and results of operations for the period, including the impact of such information on the complex judgments and estimates referred to above.
DXP is currently in its quiet period ahead of its fourth quarter and fiscal year end 2022 earnings call and will not host a call to provide additional commentary regarding this pre-announcement. We will host a conference call regarding fiscal 2022 on the company’s website as soon as practicable and upon completing our fiscal 2022 audit. Please see our SEC filings for additional information and details.
The company will continue to provide updates, as appropriate.