DXP Enterprises, Inc. (NASDAQ:DXPE) Q4 2023 Earnings Conference Call March 7, 2024 4:30 PM ET

Company Participants

Kent Yee - Chief Financial Officer

David Little - Chairman & Chief Executive Officer

Conference Call Participants

Max Kane - Stephens Inc

Operator

Ladies and gentlemen, thank you for standing by. My name is Desiree and I will be your conference operator today. At this time, I would like to welcome everyone to the DXP Enterprises 2023 Fourth Quarter and Fiscal Year 2023 Results 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]

I would now like to turn the conference over to Kent Yee, Chief Financial Officer. Please go ahead.

Kent Yee

Thank you, Desiree, and thank you everyone for joining us today. This is Kent Yee and welcome to DXP's Q4 2023 conference call to discuss our results for the fourth quarter and fiscal year ending December 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 because 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 the fourth quarter and fiscal 2023 performance and financial results.

David Little

Thanks Kent, and thanks to everyone on our 2023 fourth quarter and fiscal 2023 conference call. I am pleased to report record full year results for our key financial metrics, sales, sales per day, gross profit margins and adjusted EBITDA margins. These results demonstrate the power of our DX people, products, processes to serve the needs of our customer. They also highlight the benefit of our broad and diverse exposure to different end markets and regions and our disciplined capital allocation strategy. It is my privilege to share DXP's fourth quarter and fiscal 2023 results with you on behalf of over 2,837 DX people. Congratulations to all our stakeholders and special thanks to our DX people you can trust.