DXP ENTERPRISES INC
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
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(Note 15)
NOTE 15 -OTHER INCOME AND EXPENSES
The components of other (income) expense were as followed:
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Interest income | (1,032) | (1,873) |
| Change in fair value of contingent consideration | 183 | (194) |
| Other, net | (469) | 99 |
| Total | (1,318) | (1,968) |
NOTE 16 -REVENUE
The Company disaggregates revenue based upon our geography and our reportable segments - Service Centers, Innovative Pumping Solutions and Supply Chain Services. Each of our geographic and reportable business segments are impacted and influenced by varying factors, including the macroeconomic environment, maintenance and capital spending and commodity prices and exploration and production activity. As such, we believe this information is important in depicting the nature, timing and uncertainty of our contracts with customers. The following Geographical Information and Note 11 - Segment Reporting present our revenue disaggregated by source.
Geographical Information
Revenues are presented in geographic area based on location of the facility shipping products or providing services.
The Company’s revenues by geographical location are as follows (in thousands):
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Revenues | ||
| United States | $457,240 | $394,880 |
| Canada | 18,988 | 17,075 |
| Other | 341 | 680 |
| Total | $476,569 | $412,635 |
NOTE 17 -SUBSEQUENT EVENT
On May 1 st 2025, the Company acquired an industrial repair business located in Sparks, Nevada. We acquired this business to enhance our repair and service capabilities within the rotating equipment market and expand into the Nevada market.
The Company used cash on its balance sheet to fund the approximate $1.0 million purchase.
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