DXP Enterprises Inc. on Wednesday reported a 15.5% increase in first-quarter sales, while earnings soared by more than 80% compared to the first quarter last year.
The Houston pump and MRO distributor — no. 17 on ID’s 2024 Big 50 — posted $476.6 million in sales during the first three months of the year, up from $412.6 million in early 2024.
Company officials said that revenue increased across all three of its business segments — most notably in the Innovative Pumping Solutions division — and recent acquisitions contributed $31.1 million to its revenue total. Organic sales, the company said, rose by 11.1% year-over-year.
The company’s quarterly gross profit climbed from $123.9 million last year to $150.3 million in the latest period, while net income rose from $11.3 million to $20.6 million over that span — an increase of nearly 82%.
DXP Senior Vice President and CFO Kent Yee said that company officials “continue to see bright spots in the market.”
“We currently anticipate the second half of the year to drive growth as we benefit from increases in our project backlog and the diversification of our end markets,” Yee said in the company’s earnings release.
“Overall, we are very pleased with our performance and the progress DXP continues to make as a growth company,” added Chairman and CEO David Little. “We are optimistic that we can show continued sales and profit improvement during the remainder of 2025."
