$DXPE (DXP Enterprises, Inc.)

$DXPE {{ '2016-05-13T15:51:57+0000' | timeago}} • Webcast

$DXPE said during the first half of 1Q16, oil prices declined to around mid-20s in early Feb. This resulted in further declines in customers' operating and capital spending decisions. Low oil prices and the negative impact of the US dollar on export demand was a drag on manufacturing activity impacting the industrial side of $DXPE.

$DXPE {{ '2018-01-03T15:16:34+0000' | timeago}} • Announcement

$DXPE has completed the acquisition of Application Specialties, Inc., a leading distributor of cutting tools, abrasives, coolants and machine shop supplies. DXP funded the acquisition with cash on the balance sheet. Financial terms of the transaction were not disclosed.

$DXPE {{ '2017-08-29T20:22:36+0000' | timeago}} • Announcement

$DXPE has closed on a new $250MM Senior Secured Term Loan B and refinanced its existing credit facility with a new $85MM Asset Based Revolving Credit Facility. The TLB and ABL Revolver mature on August 29, 2023 and August 29, 2022, respectively. $DXPE intends to use the proceeds to repay the existing revolver and Term Loan A credit facilities.

$DXPE {{ '2017-05-15T21:58:21+0000' | timeago}} • Webcast

$DXPE stated that in Innovative Pumping Solutions, backlog is trending up. Additionally in the field, the company is seeing positive signs of increased activity in both industrial and oil & gas, which is reflected in the backlogs.

$DXPE {{ '2017-05-15T21:36:22+0000' | timeago}} • Webcast

$DXPE said its industrial end markets, which is 51% of the company's business is showing signs of positive upward movement, while oil and gas, which is 49% of the company's business is showing signs of gradual improvement. Across its business, $DXPE feels well positioned to benefit from any upward movement in oil & gas.

$DXPE {{ '2017-05-15T20:13:48+0000' | timeago}} • Announcement

For $DXPE in 1Q17, Service Centers’ revenue slid 11.2% to $148.7MM. Innovative Pumping Solutions’ revenue rose 3.4% to $49.1MM, while Supply Chain Services’ revenue grew 5.5% to $40.8MM. "We continue to anticipate a better fiscal year 2017," said CEO David R. Little.

$DXPE {{ '2017-05-15T20:10:37+0000' | timeago}} • Announcement

Sales of $DXPE fell 5.9% to $238.5MM in 1Q17, but the industrial supplies distributor turned to profit with a net income of $3.0MM from last year's loss of $5.2MM. Earnings were $0.17 per diluted share vs. loss of $0.35 a share a year ago, as SG&A expenses fell to $56.3MM from $70.8MM in the quarter.

$DXPE {{ '2017-03-31T15:51:23+0000' | timeago}} • Webcast

$DXPE's sales per day has improved marginally through 4Q16. The company saw weaker sales per day in Jan. 2017, and a little bit of improvement in Feb. The company said it has experienced softer sales in the last two weeks of March.

$DXPE {{ '2017-03-31T12:15:02+0000' | timeago}} • Announcement

$DXPE recorded $5.6MM gain from the sale of Vertex. This, along with free cash flow in FY16 of $43.1MM, helped it reduce total debt by $125.9MM for the year.

$DXPE {{ '2017-03-31T12:07:31+0000' | timeago}} • Announcement

Products and service distributor $DXPE's revenue from Service Centres stumbled 25% to $139.6MM in 4Q16. There was no respite in other segments also, as revenue from Innovative Pumping Solutions segment fell 13% to $45.5MM and that from Supply Chain Services segment slid 5% to $37.1MM.

$DXPE {{ '2017-03-31T12:00:25+0000' | timeago}} • Announcement

Thanks to lower expenses, $DXPE swung to a profit in 4Q16, in spite of a fall in revenue. Net income attributable to $DXPE was $7.4MM, or $0.42 per share, compared to a loss of $2.9MM, or $0.20 per share in the year-ago quarter. Meanwhile, revenue fell 3.4% to $222.3MM, as sales in all three segments were down.

$DXPE {{ '2016-11-14T21:25:02+0000' | timeago}} • Announcement

Industrial distributor $DXPE reported a quarterly profit as costs and expenses fell. The company reported 3Q16 EPS of $0.02, compared to a loss of $3.64 per share in the year-ago period. Sales fell 24% to $230MM, but SG&A expenses reduced to $58.9MM from $75.0MM. The year-ago quarter also had taken some charges which pushed it into the red zone.

$DXPE {{ '2016-10-21T14:40:22+0000' | timeago}} • Announcement

$DXPE begin primary public offering of 2.7MM common shares. $DXPE plans to grant the underwriters a 30-day option to buy an additional 405,000 common shares. The company plans to use the net proceeds from this offering to pay down outstanding borrowings under its credit facility.

$DXPE {{ '2016-10-04T12:31:57+0000' | timeago}} • Announcement

Products and service distributor $DXPE sold its master distribution business of industrial fasteners, Vertex Corporate Holdings, Inc. (VCH), to $HWCC for approx. $31MM in cash. The divestiture of VCH will be treated as the sale of a non-core business for financial reporting purposes and will be excluded from 4Q16 results.

$DXPE {{ '2016-08-10T20:18:28+0000' | timeago}} • Announcement

$DXPE said that it managed expenses tightly in 2Q16 given the continued low sales volume. SG&A expenses declined significantly YoverY due to the company's focus on managing costs and maximizing its sales efforts to grow. Free cash flow for the quarter was $17.7MM.

$DXPE {{ '2016-08-10T20:17:30+0000' | timeago}} • Announcement

$DXPE's operating income was $8.8MM during 2Q16 vs. $14MM in 2Q15. Operating profit as a percentage of sales was 3.4% vs. 4.3% in 2Q15. EBITDA was $16.3MM vs. $5.7MM in 1Q16. EBITDA as a percentage of sales was 6.4% for the quarter.

$DXPE {{ '2016-08-10T20:08:11+0000' | timeago}} • Announcement

Products and services distributor company $DXPE posted lower earnings during 2Q16 due to sequential improvement on GM and reductions within SG&A expenses. Net income was $5.14MM or $0.34 per diluted share vs. $7.14MM or $0.47 per diluted share in 2Q15. Sales fell 20.8% to 256.2MM vs. 2Q15, hurt by lower sales results in its segments.

$DXPE {{ '2016-07-11T13:57:21+0000' | timeago}} • Announcement

$DXPE said David Patton was appointed to the company's BoD on July 8, 2016. Patton's term will expire at the company's next annual shareholder meeting, at which time he will stand for re-election by the company's shareholders.

$DXPE {{ '2016-05-13T16:48:59+0000' | timeago}} • Webcast

Ryan Cieslak of Keybanc Capital Markets asks $DXPE in which segment was the cost-cutting action taken the most. CEO David Little said $DXPE took out 10% of its payroll cost across the board. Supply Chain did not get much of cost cutting actions but Service Centers had a disproportionately higher amount of costs coming out of it.

$DXPE {{ '2016-05-13T16:34:21+0000' | timeago}} • Webcast

Joseph Mondillo of Sidoti & Company asks about $DXPE's cost-cutting efforts and how much of the savings is related to headcount. CEO David Little said the efforts are mainly focused on headcount reduction. The goal was to get to $25MM of savings and $DXPE got to $26MM. $DXPE is also consolidating facilities and has closed four stores.

$DXPE {{ '2016-05-13T16:03:39+0000' | timeago}} • Webcast

$DXPE has seen continuing market activity for its newly launched PumpWorks Industrial pump brand. These products are being widely accepted by customers and sales are significantly better than expected. PumpWorks Industrial will be an engine for $DXPE's growth model going forward.

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