DXP Enterprises, Inc. (NASDAQ:DXPE) Q1 2023 Earnings Conference Call May 10, 2023 11:00 AM ET
Company Participants
David Little - Chairman and Chief Executive Officer
Kent Yee - Chief Financial Officer
Conference Call Participants
Tommy Moll - Stephens
Operator
Ladies and gentlemen, welcome to the DXP Enterprise First Quarter Earnings Results Conference Call. My name is Glenn and I will be the operator for today’s call. [Operator Instructions] I will now hand you over to your host, Kent Yee, CFO of DXP Enterprise to begin. Ken, please go ahead.
Kent Yee
Thank you, Glenn and thank you to everyone joining us this morning. This is Kent Yee and welcome to DXP’s Q1 2023 conference call to discuss our results for the first quarter ending March 31, 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 detailed discussion 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.
With that, I will now turn the call over to David Little, our Chairman and CEO, to provide his thoughts and a summary of our first quarter performance and financial results. David?
David Little
Good morning and thank you, Ken. Thanks to everyone for joining us today on our fiscal 2023 first quarter conference call.
We are off to a great start in 2023. Our first quarter of 2023 is the highest quarter in the company’s history. And I am pleased to report such strong results which rotted us with a strong start to the year and a foundation to build on from here. That said, we started 2023 focused on what matters most, providing our customers with the products and services they need through exceptional service. We remain highly focused on providing the expertise that our customers have come to expect from DXP and finding ways to find them – help them manage their inventory, reduce costs, achieve their ESG objectives and successfully run their operations. Many customers especially those in the industrial, energy and utility space continue to see solid end-market demand for their products. However, we do see that those that are close to the consumer-facing industry heading into a slower demand cycle has a world of tips to understand the ripple effects of the increased risks associated with the banking sector.