DXP Enterprises posts record EBITDA margin as water sales surge

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DXP Enterprises reported second-quarter sales rose 15.6 percent year over year to 576.5 million dollars, while adjusted EBITDA margin reached a company-record 12.2 percent. Net income increased to 28.7 million dollars and diluted earnings per share climbed to 1.76 dollars from 1.43 dollars a year earlier. Innovative Pumping Solutions sales jumped 52.6 percent to 142.7 million dollars, driven by water and wastewater activity, and DXP Water sales rose 85.6 percent year over year amid sustained municipal infrastructure demand. Free cash flow improved to 29.8 million dollars in the quarter, and the company completed four acquisitions plus the purchase of Canadian firm Mequipco to expand its water platform. Management said it is targeting a sustainable long-term adjusted EBITDA margin of 12 percent.

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Mequipco Ltd.Private▲ Positive
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Acquired by DXP to expand water platform

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