US Market News
4月前
DXP Enterprises, Inc. Reports Fourth Quarter and Fiscal 2025 ResultsFebruary 25, 2026 5:28 PM
Business Wire
Fiscal 2025 sales of $2.0 billion, up 11.9 percent from fiscal 2024
Full year GAAP diluted EPS of $5.37
$225.3 million in adjusted earnings before interest, taxes, depreciation, amortization and other non-cash charges ("Adjusted EBITDA")
Net income of $88.7 million versus $70.5 million in fiscal 2024
Refinanced Senior Secured Term Loan B raising an incremental $205 million and reduced borrowing costs by 50 basis points
Repurchased 0.2 million shares for $17.0 million in fiscal 2025
$303.8 million in cash and restricted cash
Completed six acquisitions during the fiscal year
DXP Enterprises, Inc. (NASDAQ: DXPE) today announced financial results for the fourth quarter and fiscal year ended December 31, 2025. The following are results for the three and twelve months ended December 31, 2025, compared to the three and twelve months ended December 31, 2024. A reconciliation of the non-GAAP financial measures can be found in the back of this press release.
Fourth Quarter 2025 financial highlights:
Sales increased 12.0 percent to $527.4 million, compared to $470.9 million for the fourth quarter of 2024.
Net income increased 6.9 percent to $22.8 million, compared to $21.4 million for the fourth quarter of 2024.
Diluted earnings per share for the fourth quarter of 2025 was $1.39 based upon 16.4 million diluted shares, compared to $1.29 per share in the fourth quarter of 2024 based on 16.5 million diluted shares. Adjusted diluted earnings per shares was $1.39 per share compared to $1.38 per share for the fourth quarter of 2024.
Adjusted earnings before interest, taxes, depreciation and amortization and other non-cash charges ("Adjusted EBITDA") for the fourth quarter of 2025 was $59.0 million, compared to $50.3 million for the fourth quarter of 2024. Adjusted EBITDA as a percentage of sales was 11.2 percent and 10.7 percent, respectively.
Free cash flow (cash flow from operating activities less capital expenditures) for the fourth quarter was $34.5 million or 59.9 percent of EBITDA.
Fiscal Year 2025 financial highlights:
Sales increased 11.9 percent to $2.0 billion compared to $1.8 billion for fiscal 2024.
Net income increased 25.8 percent to $88.7 million, compared to $70.5 million for fiscal 2024.
Diluted earnings per share for 2025 was $5.37 based upon 16.5 million diluted shares, compared to $4.22 per share in 2024, based on 16.7 million basic shares. Adjusted diluted earnings per share was $5.42 per share compared to $4.51 per share in 2024.
Adjusted EBITDA for 2025 increased to $225.3 million or 17.8 percent, compared to $191.3 million for 2024. Adjusted EBITDA as a percentage of sales was 11.2 percent and 10.6 percent, respectively.
Free cash flow for fiscal 2025 was $54.0 million or 24.7 percent of EBITDA.
Business segment financial highlights:
Service Centers’ revenue for the fiscal year was $1.4 billion, an increase of 11.0 percent year-over-year with a 14.4 percent operating income margin.
Innovative Pumping Solutions’ revenue for the fiscal year was $390.3 million, an increase of 26.4 percent year over year with an 18.0 percent operating income margin.
Supply Chain Services’ revenue for the fiscal year was $252.9 million, a decrease of 1.4 percent year-over-year with a 8.7 percent operating margin.
David R. Little, Chairman and Chief Executive Officer, remarked, “DXP accomplished a lot in 2025, and we would like to thank all our 'DXPeople' for their efforts this year. We were focused on improving and managing our growth, culture, expenses, working capital, and ease of doing business, with our business segments and product divisions. DXPeople drove fourth quarter results well above expectations, with strong performance across DXP. Broad based business strength across the business helped us deliver 11.9 percent revenue growth on a year-over-year basis. This growth has fueled a healthy momentum coming into 2026. DXP’s Innovative Pumping Solutions sales were up 26.4 percent to $390.3 million, followed by Service Centers sales growing 11.0 percent to $1.4 billion and Supply Chain Services sales declining 1.4 percent to $252.9 million. Congratulations to all our DXPeople for their hard work and efforts to serve our customers."
Mr. Little continued, "The sales momentum from the fourth quarter has positioned us for further success as we move into 2026. Additionally, we strengthened our balance sheet in the fourth quarter, raising an incremental $205 million under our Term Loan B. The strength of the balance sheet, the balanced end markets that we have delivered upon, and our ability to continue to execute on acquisitions have set the stage for 2026. We have a positive outlook for end markets like water & wastewater and see positive dynamics developing in the 2nd half of 2026 for our traditional end markets like energy. We are confident our growth strategy, coupled with a continued focus on improving margins and maintaining operational discipline will drive shareholder value."
Kent Yee, Chief Financial Officer commented, "Fiscal 2025 financial performance reflects the execution of our end market diversification efforts, our plans to grow both organically and through acquisitions, and continuous improvement in our operations and efficiency. Total sales and adjusted EBITDA grew 11.9 percent and 17.8 percent, respectively. We delivered strong sales growth, operating margin expansion, and thus, operating leverage of 1.5x. Our fiscal 2025 diluted earnings per share was $5.37. We are pleased with the fourth quarter, and year-end results. We positioned our balance sheet in the fourth quarter to support our growth plans in 2026. DXP ended the year with $303.8 million in cash on the balance sheet and net debt of $543.0 million. DXP’s secured leverage ratio or net debt to EBITDA was 2.3:1.0 with a covenant EBITDA of $241.4 million for fiscal 2025, which continues to remain significantly below our covenant of 5.75:1.0. We continue to have momentum going into fiscal 2026 and we expect to drive both organic and acquisition driven growth while driving shareholder and stakeholder value."
Conference Call Information
DXP Enterprises, Inc. management will host a conference call, February 26, 2026, at 10:30 a.m. Central Time, to discuss the Company’s financial results. The conference call may be accessed by going to https://ir.dxpe.com.
Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at https://ir.dxpe.com. The online replay will be available on the same website immediately following the call. A slide presentation highlighting the Company’s results and key performance indicators will also be available on the Investor Relations section of the Company’s website.
To learn more about DXP Enterprises, Inc., please visit the Company's website at https://www.dxpe.com
Non-GAAP Financial Measures
DXP supplements reporting of net income with non-GAAP measurements, including EBITDA, adjusted EBITDA, free cash flow, Adjusted Net Income attributable to DXP Enterprises, Inc., and net debt. This supplemental information should not be considered in isolation or as a substitute for the unaudited GAAP measurements. Additional information regarding EBITDA, free cash flow and Adjusted Net Income attributable to DXP Enterprises, Inc. referred to in this press release are included below under "Unaudited Reconciliation of Non-GAAP Financial Information."
The Company believes EBITDA provides additional information about: (i) operating performance, because it assists in comparing the operating performance of the business, as it removes the impact of non-cash depreciation and amortization expense as well as items not directly resulting from core operations such as interest expense and income taxes and (ii) the performance and the effectiveness of operational strategies. Additionally, EBITDA performance is a component of a measure of the Company’s financial covenants under its credit facility. Furthermore, some investors use EBITDA as a supplemental measure to evaluate the overall operating performance of companies in the industry. Management believes that some investors’ understanding of performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing ongoing results of operations. By providing this non-GAAP financial measure, together with a reconciliation from net income, the Company believes it is enhancing investors’ understanding of the business and results of operations, as well as assisting investors in evaluating how well the Company is executing strategic initiatives.
About DXP Enterprises, Inc.
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and the U.A.E. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. These forward-looking statements include without limitation those about the Company’s expectations regarding the impact of the COVID-19 pandemic and the impact of low commodity prices of oil and gas; the Company’s business, the Company’s future profitability, cash flow, liquidity, and growth. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; decreases in oil and natural gas prices; decreases in oil and natural gas industry expenditure levels, which may result from decreased oil and natural gas prices or other factors; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, economic risks related to the impact of COVID-19, ability to manage changes and the continued health or availability of management personnel and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
DXP ENTERPRISES, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
($ thousands, except per share amounts)
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024
Sales
$
527,390
$
470,914
$
2,016,365
$
1,802,040
Cost of sales
360,799
322,422
1,380,437
1,245,763
Gross profit
166,591
148,492
635,928
556,277
Selling, general and administrative expenses
119,920
109,201
459,058
410,895
Income from operations
46,671
39,291
176,870
145,382
Interest expense
16,232
17,283
60,530
63,927
Other income, net
(562
)
(673
)
(2,882
)
(3,517
)
Income before income taxes
31,001
22,681
119,222
84,972
Provision for income taxes
8,156
1,318
30,545
14,483
Net income
22,845
21,363
88,677
70,489
Preferred stock dividend
22
22
90
90
Net income attributable to common shareholders
$
22,823
$
21,341
$
88,587
$
70,399
Net income
$
22,845
$
21,363
$
88,677
$
70,489
Foreign currency translation adjustments
1,063
(2,229
)
3,003
(2,370
)
Comprehensive income
$
23,908
$
19,134
$
91,680
$
68,119
Earnings per share:
Basic
$
1.46
$
1.36
$
5.65
$
4.44
Diluted
$
1.39
$
1.29
$
5.37
$
4.22
Weighted average common shares outstanding:
Basic
15,595
15,695
15,667
15,861
Diluted
16,435
16,535
16,507
16,701
DXP ENTERPRISES, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEETS
($ thousands, except share amounts)
December 31, 2025
December 31, 2024
ASSETS
Current assets:
Cash
$
303,783
$
148,320
Restricted cash
—
91
Accounts receivable, net of allowance of $3,995 and $5,172, respectively
397,502
339,365
Inventories
108,144
103,113
Costs and estimated profits in excess of billings
53,855
50,735
Prepaid expenses and other current assets
47,033
20,250
Total current assets
910,317
661,874
Property and equipment, net
114,822
81,556
Goodwill
494,561
452,343
Other intangible assets, net
81,351
85,679
Operating lease right of use assets, net
74,709
46,569
Other long-term assets
9,395
21,473
Total assets
$
1,685,155
$
1,349,494
LIABILITIES AND EQUITY
Current liabilities:
Current maturities of debt
$
8,580
$
6,595
Trade accounts payable
116,765
103,728
Accrued wages and benefits
51,180
41,650
Customer advances
15,460
13,655
Billings in excess of costs and estimated profits
15,689
12,662
Short-term operating lease liabilities
19,038
14,921
Other current liabilities
45,769
50,773
Total current liabilities
272,481
243,984
Long-term debt, net of unamortized debt issuance costs and discounts
818,476
621,684
Long-term operating lease liabilities
57,509
33,159
Other long-term liabilities
38,250
27,879
Total long-term liabilities
914,235
682,722
Total liabilities
1,186,716
926,706
Shareholders' Equity:
Series A preferred stock, $1.00 par value; 1,000,000 shares authorized
1
1
Series B preferred stock, $1.00 par value; 1,000,000 shares authorized
15
15
Common stock, $0.01 par value, 100,000,000 shares authorized; 20,403,647 issued and 15,513,590 outstanding at December 31, 2025 and 20,402,861 issued and 15,695,088 outstanding at December 31, 2024
204
204
Additional paid-in capital
220,681
219,511
Retained earnings
478,257
389,670
Accumulated other comprehensive loss
(30,607
)
(33,610
)
Treasury stock, at cost 4,890,057 and 4,707,773 shares, respectively
(170,112
)
(153,003
)
Total DXP Enterprises, Inc. equity
498,439
422,788
Total liabilities and equity
$
1,685,155
$
1,349,494
SEGMENT DATA
($ thousands, unaudited)
Three Months Ended December 31,
Twelve Months Ended December 31,
Sales
2025
2024(1)
2025
2024(1)
Service Centers
$
356,155
$
314,673
$
1,373,140
$
1,236,775
Innovative Pumping Solutions
110,018
93,752
390,291
308,850
Supply Chain Services
61,217
62,489
252,934
256,415
Total DXP Sales
$
527,390
$
470,914
$
2,016,365
$
1,802,040
Three Months Ended December 31,
Twelve Months Ended December 31,
Operating Income
2025
2024(1)
2025
2024(1)
Service Centers
$
49,605
$
45,686
$
198,166
$
179,522
Innovative Pumping Solutions
19,775
14,529
70,223
51,063
Supply Chain Services
5,823
5,088
21,919
21,742
Total segment operating income
$
75,203
$
65,303
$
290,308
$
252,327
(1) Prior period segment disclosures have been recast
RECONCILIATION OF OPERATING INCOME FOR REPORTABLE SEGMENTS
($ thousands, unaudited)
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024
Income from operations for reportable segments
$
75,203
$
65,303
$
290,308
$
252,327
Adjustment for:
Amortization of intangibles(1)
5,617
5,494
21,670
19,827
Corporate expenses, net
22,915
20,518
91,768
87,118
Income from operations
$
46,671
$
39,291
$
176,870
$
145,382
Interest expense
16,232
17,283
60,530
63,927
Other (income) expense, net
(562
)
(673
)
(2,882
)
(3,517
)
Income before income taxes
$
31,001
$
22,681
$
119,222
$
84,972
(1) Amortization of intangible assets is recorded at the corporate level.
RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION
($ thousands, unaudited)
The following table is a reconciliation of EBITDA, EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin to the most comparable U.S. GAAP financial measure (in thousands):
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024
Income before income taxes
$
31,001
$
22,681
$
119,222
$
84,972
Plus: Interest expense
16,232
17,283
60,530
63,927
Plus: Depreciation and amortization
10,306
9,020
38,850
33,405
EBITDA
$
57,539
$
48,984
$
218,602
$
182,304
Plus: stock compensation expense
1,430
1,316
5,708
4,714
Plus: other non-recurring items(1)
—
—
992
4,292
Adjusted EBITDA
$
58,969
$
50,300
$
225,302
$
191,310
Operating Income Margin
8.8
%
8.3
%
8.8
%
8.1
%
EBITDA Margin
10.9
%
10.4
%
10.8
%
10.1
%
Adjusted EBITDA Margin
11.2
%
10.7
%
11.2
%
10.6
%
(1) Other non-recurring items includes unique acquisition integration costs and other non-cash, non-recurring costs not related to continuing business operations.
The following table sets forth the reconciliation of Acquisition Sales, Organic Sales and Organic Sales per Business Day to the most comparable U.S. GAAP financial measure (in thousands):
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024(1)
2025
2024(1)
Sales by Business Segment
Service Centers
$
356,155
$
314,673
$
1,373,140
$
1,236,775
Innovative Pumping Solutions
110,018
93,752
390,291
308,850
Supply Chain Services
61,217
62,489
252,934
256,415
Total DXP Sales
$
527,390
$
470,914
$
2,016,365
$
1,802,040
Acquisition Sales
$
21,923
$
34,787
$
96,043
$
98,500
Organic Sales
$
505,467
$
436,127
$
1,920,322
$
1,703,540
Business Days
62
62
252
253
Sales per Business Day
$
8,506
$
7,595
$
8,001
$
7,123
Organic Sales per Business Day
$
8,153
$
7,034
$
7,620
$
6,733
(1) Prior period segment disclosures have been recast.
RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION CONTINUED
($ thousands, unaudited)
The following table sets forth a reconciliation of Free Cash Flow to the most comparable U.S. GAAP financial measure (in thousands):
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024
Net cash from operating activities
$
37,759
$
32,143
$
94,264
$
102,211
Less: purchases of property and equipment, net
(3,286
)
(9,395
)
(40,286
)
(25,068
)
Free Cash Flow
$
34,473
$
22,748
$
53,978
$
77,143
The following table is a reconciliation of adjusted net income attributable to DXP Enterprises, Inc., a non-GAAP financial measure, to net income, calculated and reported in accordance with U.S. GAAP (in thousands):
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024
Net Income
$
22,845
$
21,363
$
88,677
$
70,489
One-time debt financing costs
1,623
—
1,623
Other non-cash items
—
—
992
4,292
Adjustment for taxes
(2
)
(101
)
(254
)
(1,008
)
Adjusted Net Income
$
22,843
$
22,885
$
89,415
$
75,396
Weighted average common shares and common equivalent shares outstanding
Diluted
16,435
16,535
16,507
16,701
Diluted Earnings per Share
$
1.39
$
1.29
$
5.37
$
4.22
Adjusted Diluted Earnings per Share
$
1.39
$
1.38
$
5.42
$
4.51
View source version on businesswire.com: https://www.businesswire.com/news/home/20260225639080/en/
DXP Enterprises, Inc.
Kent Yee, 713-996-4700
Senior Vice President, CFO
www.dxpe.com
Original: DXP Enterprises, Inc. Reports Fourth Quarter and Fiscal 2025 Results
ERLO
20年前
DXP Enterprises Announces Third Quarter Results
Wednesday November 1, 5:44 pm ET
Net Income Increases 181% - Sales Increase 57%
HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ:DXPE - News) today announced a 181% increase in net income to $2,981,000 for the third quarter ending September 30, 2006 with diluted earnings per share of $0.52 compared to net income of $1,061,000 and diluted earnings per share of $0.18 for the third quarter of 2005. Sales increased 57.2% to $68.2 million from $43.4 million for the third quarter of 2005. Sales by the businesses acquired in 2005 and 2006 accounted for $9.3 million of the sales increase. Excluding sales by the acquired businesses, sales for the third quarter of 2006 increased 36.2% from the third quarter of 2005.
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Year-to-date net income as of September 30, 2006 increased 148.6% to $8.4 million, or $1.47 per diluted share, compared to $3.4 million, or $0.59 per diluted share for the first nine months of 2005. Sales increased 53.5% to $200.5 million from $130.6 million for the first nine months of 2005. Sales by the businesses acquired in 2005 and 2006 accounted for $26.9 million of the sales increase. Excluding sales of the acquired businesses, sales for the first nine months of 2006 increased 33.0% from the same period in 2005.
David R. Little, Chairman and Chief Executive Officer, said, "Our industrial customer base continues to indicate a strong outlook in the upstream and downstream energy sectors of oil, gas and coal. The outlook for the remainder of 2006 and for 2007 is especially strong for our SmartSource and innovative pumping solutions units."
Mac McConnell, Senior Vice President & CFO, said, "Debt declined $8.8 million, to $29.6 million, during the third quarter of 2006. The debt to equity ratio declined to 0.93 at September 30, 2006 from 1.33 at June 30, 2006."
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to MRO and OEM customers in virtually every industry since 1908. DXP provides innovative pumping solutions, integrated supply and MROP (maintenance, repair, operating and production) services that emphasize and utilize DXP's vast product knowledge and technical expertise in pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer driven creating competitive advantages for our customers.
DXP's innovative pumping solutions provide engineering, fabrication and technical design to meet the capital equipment needs of its global customer base. DXP provides solutions by utilizing manufacturer authorized equipment and certified personnel. Pump packages require MRO and OEM equipment such as pumps, motors and valves, and consumable products. DXP leverages its MROP inventories and technical knowledge to lower the total cost and maintain the quality of the pump package.
SmartSource, a DXP integrated supply program, allows a more efficient way to manage the customer's supply chain needs for MROP products. The program allows the customer to transfer all or part of their supply chain needs to DXP, so the customer can focus on his core business. SmartSource effectively lowers costs by outsourcing purchasing, accounting, and on-site supply management to DXP, which reduces the duplication of effort by the customer and supplier. DXP's broad range of first-tier products provides an efficient measurable solution to reduce cost and streamline procurement and sourcing operations.
The Private Securities Litigation Reform Act of 1995 provides a "safe-harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. For more information, review the Company's filings with the Securities and Exchange Commission.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Three Months Ended Nine Months Ended
September 30 September 30
--------------------- ---------------------
2006 2005 2006 2005
---------- --------------------- ----------
Sales $68,189 $43,378 $200,469 $130,630
Cost of sales 48,468 31,927 144,275 95,966
---------- ---------- ---------- ----------
Gross profit 19,721 11,451 56,194 34,664
Selling, general and
administrative expense 14,578 9,618 41,348 28,813
---------- ---------- ---------- ----------
Operating income 5,143 1,833 14,846 5,851
Other income 220 9 238 36
Interest expense (501) (216) (1,344) (733)
Minority interest in
(income) loss of
consolidated subsidiary - 29 20 126
---------- ---------- ---------- ----------
Income before taxes 4,862 1,655 13,760 5,280
Provision for income taxes 1,881 594 5,327 1,888
---------- ---------- ---------- ----------
Net income 2,981 1,061 8,433 3,392
Preferred stock dividend 23 23 68 68
---------- ---------- ---------- ----------
Net income attributable to
common shareholders $2,958 $1,038 8,365 $3,324
========== ========== ========== ==========
Basic income per share $0.58 $0.24 $1.66 $0.79
========== ========== ========== ==========
Weighted average common
shares outstanding 5,124 4,406 5,043 4,213
========== ========== ========== ==========
Diluted income per share $0.52 $0.18 $1.47 $0.59
========== ========== ========== ==========
Weighted average common and
common equivalent shares
outstanding 5,749 5,895 5,733 5,792
========== ========== ========== ==========
Unaudited Reconciliation of Non-GAAP Financial Information
The following table is a reconciliation of EBITDA(a); a non-GAAP
financial measure, to income before income taxes, calculated and
reported in accordance with U.S. GAAP:
Three Months Ended Nine Months Ended
September 30, September 30,
------------------- -------------------
2006 2005 2006 2005
--------- --------- --------- ---------
Income before income taxes $4,862 $1,655 $13,760 $5,280
Plus interest expense 501 216 1,344 733
Plus depreciation and
amortization 307 243 860 717
--------- --------- --------- ---------
EBITDA $5,670 $2,114 $15,964 $6,730
========= ========= ========= =========
(a)EBITDA - earnings before interest, income taxes, depreciation and
amortization
Contact:
DXP Enterprises, Inc., Houston
Mac McConnell, 713-996-4700
Senior Vice President, Finance
www.dxpe.com
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