DXP Enterprises, Inc. (NASDAQ:DXPE) Q1 2022 Results Conference Call May 10, 2022 11:30 AM ET

Company Participants

Kent Yee - Chief Financial Officer

David Little - Chairman & Chief Executive Officer

Conference Call Participants

Cole Couzens - Stephens

Operator

Good morning. My name is Julianne, and I will be your conference operator today. At this time, I would like to welcome everyone to DXP Enterprises 2022 First Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. [Operator Instructions]

Kent Yee, Chief Financial Officer, you may begin your conference.

Kent Yee

Thank you, Julianne. This is Kent Yee, and welcome to DXP's Q1 2022 Conference Call to discuss our results for the first quarter ending March 31, 2022. Joining me today is our Chairman and CEO, David Little.

Before we get started, excuse me, I wanted 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 on-claim 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 CEO and Chairman, to provide his thoughts and a summary of our first quarter performance and financial results.

David Little

Good morning, and thank you, Kent. Thanks to everyone for joining us today on our fiscal 2022 first quarter conference call.

First, let me say that following a partial recovery in 2021, we are off to a great start in 2022. I personally want to thank all our DXP stakeholders, in particular, all our DXPeople for their determination, hard work and grit as we turn the corner and momentum appears to be building in our business.

With 25% organic sales growth, adjusting for the four acquisitions we did at the end of 2020 and 30% overall year-over-year sales growth in Q1, we are off to a great start this year. This is DXP's first quarter of meaningful organic growth in total sales and EBITDA, which is great to see. That said, as we get to the tail end of the COVID crisis, we are all facing new challenges that DXP is prepared to navigate.