DXP Enterprises, Inc. (NASDAQ:DXPE) Q2 2023 Earnings Conference Call August 9, 2023 11:00 AM ET

Company Participants

Kent Yee - Chief Financial Officer

David Little - Chairman & Chief Executive Officer

Conference Call Participants

Tommy Moll - Stephens Inc.

Operator

Good morning, ladies and gentlemen. Thank you for standing by. My name is Erica, and I will be the conference operator today. At this time, I would like to welcome everyone to the DXP Enterprises, Inc. 2023 Second Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. [Operator Instructions]

I now turn the call over to Kent Yee, CFO.

Kent Yee

Thank you, Erica, and thank you to everyone for joining us today. This is Kent Yee and welcome to DXP's Q2 2023 conference call to discuss our results for the second quarter ending June 30, 2023. Joining me today is our Chairman and CEO, David Little.

Before we get started, I want to remind you that today's call is being webcast and recorded and includes forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. A -- of the many factors that we believe may have a material effect on our business on an ongoing basis are contained in our SEC filings. However, DXP assumes no obligation to update that information as a result of new information or future events.

During this call, we may present both GAAP and Non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our earnings press release. The press release and an accompanying investor presentation are now available on our website at ir.dxpe.com.

I will now turn the call over to David Little, our Chairman and CEO to provide his thoughts and a summary of our second quarter performance and financial results.

David Little

Good morning and thank you Kent. Thanks to everyone for joining us today on our fiscal 2023 second quarter conference call. We are pleased to see end market demand and DXP's performance continue through Q2 and remain at record levels through the first half of 2023. This allows us to achieve another quarter of both solid sales growth and 10% EBITDA margins.

Overall, we had a great second quarter and strong first half of 2023. We are establishing new highs for DXP and look forward to the second half of 2023. The first half of 2023 highlight solid execution and continued positive demand trends supported by our ability to grow organically and navigate the dynamic supply chain and pricing environment. We continue to execute our acquisition strategy to continue to grow our DXP water and wastewater platform adding Florida valve and Riordan Materials during the quarter. We continue to execute on our goals to diversify DXP's business while maintaining our commitment to foundational end markets like energy that have been and will always be a part of DXP.