HOUSTON--(BUSINESS WIRE)--

DXP Enterprises, Inc. (NASDAQ: DXPE), is pleased to provide shareholders with a preannouncement of DXP’s financial performance for the fiscal year ending December 31, 2022, which features significant growth in sales, operating income, earnings before interest, taxes, depreciation, and amortization ("EBITDA") and diluted earnings per common share (“EPS”).

Preliminary Financial Highlights:

• Fiscal 2022 sales expected to be in the range of $1.40 billion to $1.46 billion, an increase of 26% to 31%, compared to fiscal 2021.
• Fiscal 2022 GAAP operating income expected to be in the range of $80 to $90 million, an increase of 101% to 126%, compared to fiscal 2021.
• Fiscal 2022 EBITDA is expected to be in the range of $110 to $120 million, an increase of 63% to 78%, compared to fiscal 2021.
• Fiscal 2022 EPS is expected to be in the range of $1.92 to $2.07, an increase of 131% to 149%, compared to 2021.

Preliminary Financial Results:

The preliminary results above are unaudited and are based on management’s initial review of DXP’s financial results for the fiscal year ended December 31, 2022. In preparing this information, management made complex and subjective judgments and estimates about the appropriateness of certain reported amounts and disclosures. Our actual financial results for the twelve months ended December 31, 2022, have not yet been finalized by management and remain subject to the completion of management’s final review and our other closing procedures, as well as the completion of the integrated audit of our annual financial statements. These preliminary estimated results do not represent a comprehensive statement of all financial results for the fiscal year ended December 31, 2022. We are required to consider all available information through the finalization of our financial statements and their possible impact on our financial conditions and results of operations for the period, including the impact of such information on the complex judgments and estimates referred to above.

Fiscal 2022 preliminary results (dollars in millions, except per share amounts):

Preliminary Capitalization

Year-end December 31, 2022, preliminary results (dollars in millions, except leverage ratio):

Earnings Conference Call Update

DXP is currently in its quiet period ahead of its fourth quarter and fiscal year end 2022 earnings call and will not host a call to provide additional commentary regarding this preannouncement. We will host a conference call regarding fiscal 2022 on the Company’s website () as soon as practicable and upon completing our fiscal 2022 audit. Please see our SEC filings for additional information and details. The Company will continue to provide updates, as appropriate.

About DXP Enterprises, Inc.

DXP Enterprises, Inc. 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. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") 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's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to .

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. These forward-looking statements include without limitation those about the Company’s expectations regarding the impact of low commodity prices of oil and gas; the Company's expectations regarding the filing of the Form 10-Q; the description of the anticipated changes in the Company's consolidated balance sheet and the results of operations and the Company's assessment of the impact of such anticipated changes; the Company’s business, the Company’s future profitability, cash flow, liquidity, and growth. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; decreases in oil and natural gas prices; decreases in oil and natural gas industry expenditure levels, which may result from decreased oil and natural gas prices or other factors; inability of the Company or its independent auditors to complete the work necessary in order to file the Form 10-Q, in the expected time frame; unanticipated changes to the Company's operating results in the Form 10-Q as filed or in relation to prior periods, including as compared to the anticipated changes stated here; unanticipated impact of such changes and its materiality; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, economic risks related to the impact of COVID-19, ability to manage changes and the continued health or availability of management personnel and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

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