Industrial distributor DXP Enterprises (NASDAQ:DXPE) will be reporting results tomorrow after the bell. Here's what you need to know.
DXP met analysts' revenue expectations last quarter, reporting revenues of $412.6 million, down 2.7% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is DXP a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting DXP's revenue to grow 1.4% year on year to $434 million, slowing from the 16.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.80 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. DXP has missed Wall Street's revenue estimates three times over the last two years.
Looking at DXP's peers in the maintenance and repair distributors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fastenal delivered year-on-year revenue growth of 1.8%, meeting analysts' expectations, and MSC Industrial reported a revenue decline of 7.1%, in line with consensus estimates. Fastenal traded up 5.8% following the results while MSC Industrial's stock price was unchanged.
Read our full analysis of Fastenal's results here and MSC Industrial's results here.
Investors in the maintenance and repair distributors segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. DXP is up 11.8% during the same time and is heading into earnings with an average analyst price target of $65 (compared to the current share price of $48.84).
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