DXP Enterprises, Inc. (NASDAQ:DXPE) Q3 2024 Earnings Call November 5, 2024 11:30 AM ET

Company Participants

Kent Yee - Chief Financial Officer
David Little - Chairman and Chief Executive Officer

Conference Call Participants

Tommy Moll - Stephens

Operator

Thank you for standing by. My name is Novi and I will be your conference operator today. At this time, I would like to welcome everyone to the DXP Enterprises, Inc. Third Quarter 2024 Earnings Release and Conference Call. [Operator Instructions] I would now like to turn the call over to Kent Yee, Chief Financial Officer. Please go ahead.

Kent Yee

Thank you, Novi, and thank you, everyone. This is Kent Yee and welcome to DXP’s Q3 2024 conference call to discuss our results for the third quarter ending September 30, 2024. 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.

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

David Little

Thanks, Kent, and thanks to everyone on our 2024 third quarter conference call. Kent will take you through the key financial details after my remarks. And after our prepared comments, we will open for Q&A. It is my privilege to share DXP’s third quarter results with you on behalf of over 2,989 DXPeople. Congratulations to all our stakeholders and a special thank to you and our DXPeople you can trust.

We are pleased to see end market demand and DXP’s performance continue through Q3. We remain at record levels as we move into the last quarter of 2024. This allows us to achieve another quarter of both solid sales growth and 10% plus EBITDA margins. We are pleased to announce strong third quarter results with sales, operating income and earnings per share all up over the prior year. This is a great way to start the second half of fiscal 2024.