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DXP's Sales Returned to Year-Over-Year Growth in Q2, Accelerate Sequentially inddist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inddist.com Daily Mail and Mail on Sunday newspapers.
Year-over-year sales were still down almost 19 percent, but that deficit continues to improve. May 7th, 2021 Houston-based pumping solutions and MROP products distributor and supply chain provider DXP Enterprises reported its 2021 first quarter results on Friday, showing year-over-year sales that are still in the red but improving, while sequential sales showed solid growth that was driven by acquisitions the company completed during Q4 2020. The company posted total Q1 sales of $246 million, down 18.4 percent year-over-year (-17.1 percent on a daily sales basis). That year-over-year decline has shrunk from 32.7 percent in Q3 of last year and 21.2 percent in Q4. Sequentially, Q1 sales improved 5.6 percent, on par with the 5.7 percent increase from Q3 to Q4 2020. ....
Operator Ladies and gentlemen, thank you for standing by and welcome to DXP Enterprises, Inc Fourth Quarter 2020 Earnings Call. [Operator Instructions] After the speakers presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to Mr. Kent Yee, Chief Financial Officer. Please go ahead. Kent Yee Senior Vice President and Chief Financial Officer Thank you, Michelle. This is Kent Yee, and welcome to DXPs Q4 2020 conference call to discuss our results for the fourth quarter and fiscal year ending December 31st, 2020. Joining me today is our Chairman and CEO, David Little. ....
Aggressive Q4 Has DXP Eyeing 2021 Growth The company s 2020 sales were down 21 percent, but it closed four acquisitions in Q4 and refinanced a major loan. Mar 9th, 2021 Houston-based pumping solutions and MROP products distributor and supply chain provider DXP Enterprises reported its 2020 fourth quarter and full-year financial results on Friday, showing year-over-year sales that are still in the red but improving, while sequential sales have accelerated largely the same story among most publicly-traded industrial distributors. The company posted total Q4 sales of $233 million, down 21.2 percent year-over-year (YoY), which was improved from a 32.7 percent YoY decline in Q3. Sequentially, Q4 sales improved 5.7 percent from Q3, far better than the 11.6 percent sequential decline from Q2 to Q3. Gross profit fell 17.9 percent YoY and the company took an operating loss of $3.7 million in Q4, compared to a $41 million loss in Q3 and a $6.7 million profit a year earlier ....