DXP Enterprises, Inc. (NASDAQ: DXPE) today announced financial results for the fourth quarter and year ended December 31, 2019
Fourth-quarter sales decreased 5% to $295.5 million, compared to $311.0 million for the fourth quarter of 2018. Earnings per diluted share for the fourth quarter was $0.12 based upon 18.4 million diluted shares, compared to $0.60 per share in the fourth quarter of 2018, based on 18.4 million diluted shares.
For the full year, sales increased 4.2% to $1.3 billion, compared to $1.2 billion for 2018.
Earnings per diluted share for 2019 of $1.96 based upon 18.4 million diluted shares, compared to $1.94 per share in 2018, based on 18.4 million diluted shares. Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2019 were $91.3 million compared to $95.8 million for 2018.
CEO David R. Little commented, “DXP reported fiscal 2019 sales of $1.3 billion, a 4.2 percent growth over 2018. We invested in expanding our facilities, products and corporate support capabilities in FY 2019. Overall performance was positive with more strength during the first half of the year versus the third and fourth quarter.”
The Houston-based DXP is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai.
According to company literature, “DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production 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 drooped $4.59, or 16.7%, to $22.95