DXP Enterprises (DXPE) Reports Q4 EPS of $0.42

DXP Enterprises (NASDAQ: DXPE) reported Q4 EPS of $0.42, versus ($0.20) reported last year. Revenue for the quarter came in at $222.3 million versus the consensus estimate of $222.04 million.

• Sales were $222.3 million for the fourth quarter of 2016, a decrease of 3.4 percent from the third quarter and a decrease of 20.2 percent compared to $278.7 million for the fourth quarter of 2015. Adjusting the third quarter of 2016 and fourth quarter of 2015 for the sale of Vertex, sales decreased 0.3 percent compared to the third quarter and 18.1 percent compared to the fourth quarter of 2015, respectively.
• Earnings per diluted share for the fourth quarter was $0.42 based upon 17.4 million diluted shares, compared to $0.02 per share in the third quarter of 2016, based on 15.4 million diluted shares. In the fourth quarter of 2015, the loss per diluted share was $0.20 on 14.5 million shares which includes impairment expense of $9.8 million.
• Earnings before interest, taxes, depreciation and amortization (EBITDA) for the fourth quarter was $20.4 million compared to $12.8 million for the third quarter of 2016, an increase of 59.9 percent. The increase includes a $5.6 million gain on the sale of Vertex. Excluding the gain, EBITDA for the fourth quarter was $14.8 million or 6.7 percent of sales. EBITDA as a percentage of sales was 9.2 percent and 5.6 percent for the fourth and third quarter, respectively, as reported. In the fourth quarter of 2015, EBITDA was $13.6 million or 4.9 percent of sales.
• Free cash flow (cash flow from operating activities less capital expenditures) for the fourth quarter was $10.9 million or 53 percent of EBITDA.

For earnings history and earnings-related data on DXP Enterprises (DXPE) click here.

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