DXP ENTERPRISES Reports Positive Results for FY2023 Q1 Ending March 31, 2023
May 27, 2023
Earnings Overview
DXP ENTERPRISES ($NASDAQ:DXPE) reported total revenue of USD 424.3 million for the quarter ending March 31, 2023, a 32.8% year-on-year increase. Additionally, net income for the period increased by 39.1%, totalling USD 17.6 million.
Stock Price
On Friday, DXP ENTERPRISES reported its quarterly results for the first quarter of FY2023 ending March 31, 2023. The company recorded a 6.0% growth in stock price from its previous closing mark of $26.1 to its current closing mark of $27.6. This marks a positive performance for the company amidst a challenging market environment. With this impressive result, DXP ENTERPRISES was able to strengthen its position in the market and prove itself as a reliable and profitable company.
This increase was driven by the company’s focus on innovative product offerings and customer service. This is an encouraging sign for the company, as it continues to make strides in the market and continues to set the standard for industry excellence. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dxp Enterprises. More…
| Total Revenues | Net Income | Net Margin |
| 1.59k | 53 | 3.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dxp Enterprises. More…
| Operations | Investing | Financing |
| 5.89 | -53.42 | 44.31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dxp Enterprises. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.05k | 678.88 | 21.11 |
Key Ratios Snapshot
Some of the financial key ratios for Dxp Enterprises are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.1% | 21.5% | 6.9% |
| FCF Margin | ROE | ROA |
| 0.1% | 18.6% | 6.5% |
Analysis
At GoodWhale, we recently conducted an analysis of DXP ENTERPRISES, to assess the company’s overall wellbeing. After gathering and analyzing the financial data, our Risk Rating has concluded that DXP ENTERPRISES is a medium risk investment in terms of financial and business aspects. We also went through the company’s balance sheet in greater detail, where we identified one risk warning. We recommend that those interested in investing in DXP ENTERPRISES register on our website (goodwhale.com) to gain access to the full report and our analysis of the risk warnings. More…
Peers
Its main competitors are Fastenal Co, Core & Main Inc, and Zall Smart Commerce Group Ltd. DXP has a strong market position and offers a broad range of products and services. The company has a diversified customer base and a large sales force. It also has a strong online presence and a good reputation for customer service. DXP’s main competitors are Fastenal Co, Core & Main Inc, and Zall Smart Commerce Group Ltd. These companies are all large and well-established providers of industrial products and services. They have strong market positions and offer a wide range of products and services.
– Fastenal Co ($NASDAQ:FAST)
With a market cap of $27.03B as of 2022, Fastenal Co is a company that focuses on the distribution of industrial and construction supplies. The company has a Return on Equity of 28.04%, which is relatively high compared to other companies in the same industry. Fastenal Co is a well-established company with a strong financial position. The company has a wide range of products and services that it offers to its customers.
– Core & Main Inc ($NYSE:CNM)
Core & Main Inc is a leading infrastructure solutions provider, offering water, wastewater, and stormwater management products and services to communities and businesses across the United States. The company has a market cap of 3.97B as of 2022 and a Return on Equity of 28.13%. Core & Main is dedicated to improving the communities it serves and is committed to environmental stewardship.
– Zall Smart Commerce Group Ltd ($SEHK:02098)
Zall Smart Commerce Group Ltd. is a holding company that engages in the operation of an integrated smart commerce platform in China. The company operates its business through three segments: B2B Business, B2C Business, and Others. The B2B Business segment comprises of online and offline businesses. The B2C Business segment offers online direct sales, self-operated e-commerce platforms, and third-party e-commerce platforms. The Others segment includes logistics, warehousing, and financial businesses. Zall Smart Commerce Group Ltd. was founded in 2003 and is headquartered in Hangzhou, China.
Summary
Investors in DXP Enterprises are pleased with the company’s performance in Q1 of 2023, evidenced by a 32.8% YoY increase in total revenue and a 39.1% increase in net income. This success was reflected in the stock price, which moved up on the day of the announcement. Going forward, investors will be encouraged by the strong financial performance, and the potential for further growth in the future.
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