Exhibit 99.1

		NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS

DXP ENTERPRISES REPORTS PRELIMINARY (UNREVIEWED)

SECOND QUARTER 2021 RESULTS

Houston, TX – August 16, 2021 – DXP Enterprises, Inc. (NASDAQ: DXPE) today announced preliminary (unreviewed) financial results for the second quarter ended June 30, 2021. The following are results for the three and six months ended June 30, 2021, compared to the three and six months ended June 30, 2020 and sequentially for the three months ended March 31, 2021, where appropriate. A reconciliation of the non-GAAP financial measures can be found in the back of this press release. The preliminary results are unaudited and are based on management’s initial review of DXP’s financial results for the three month period ended June 30, 2021.

Second Quarter 2021 financial highlights:

David R. Little, Chairman and CEO commented, “I am pleased that DXP’s performance continues to strengthen as we accelerate into the COVID-19 recovery. Our team continued to improve execution in the second quarter, driving sequential sales growth, and gross margin improvement while maintaining cost discipline. As a result of this performance and the team’s execution, we are confident we will continue to position DXP for long-term profitable growth and a positive outlook for the second half of 2021. DXP’s second quarter 2021 sales were $285.5 million, or a 16.2 percent increase over the first quarter. During the second quarter, sales were $209.5 million for Service Centers, $39.3 million for Supply Chain Services and $36.7 million for Innovative Pumping Solutions. Most of our customers and the markets we serve continue to show improvement. We remain encouraged by the sequential increases despite the continued choppiness associated with COVID19. Thank you to all our customers and DXPeople for the support and efforts to remain safe and healthy while moving forward.”

Kent Yee, CFO, added, “Our second quarter sequential sales growth of 16.2 percent and $6.8 million in free cash flow was great to see. Our financial results reflect our continued focus on our customers and improving market conditions. As of June 30, 2021, we had $79.3 million in cash and cash equivalents. We have completed two acquisitions since the four at year-end, as well as executing share repurchases which were completed towards the end of the quarter. We are well on our way into diversifying DXP’s end markets while creating stakeholder value. We turned DXP’s sales growth into a 64.6 percent sequential increase in EBITDA and $0.28 per share year-over-year improvement in earnings per diluted share. Total debt outstanding as of June 30, 2021 was $328.4 million with senior leverage of 3.11:1, well under our covenant of 5.75:1.

Page 1

		NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS

We are excited by our sales team’s focus on organic sales growth as well as the contributions from recent acquisitions. The teamwork as well as the overall tone at DXP is moving in the right direction and we look forward to continuing the momentum into the second half of the year.”

Financial Strength and Liquidity

Net debt, calculated as total long-term debt, net of cash and cash equivalents, on our balance sheet as of June 30, 2021, was $249.1 million compared to $201.7 million at March 31, 2021. As of June 30, 2021, DXP has approximately $210.5 million in liquidity, consisting of $79.2 million in cash on hand and approximately $131.3 million in availability under our ABL facility.

DXP will not host a conference call regarding June 30, 2021 second quarter results (see Update on Form 10-Q and Auditor Review).

Update on Form 10-Q Filing and Auditor Review

During the second quarter, the Company determined it had aged un-vouchered purchase orders included in trade accounts payable. After lengthy investigation and research, the Company concluded that these balances were not valid obligations to vendors and will never be invoiced or paid. Some of the balances in this account are more than three years old and are beyond a reasonable expectation that they will be settled and are not considered legal obligations of the Company. The Company preliminarily assessed the materiality of this error in accordance with Staff Accounting Bulletin No. 99, “Materiality”, and the Company believes that, qualitatively, the amounts would have no bearing on the decision-making process of a reasonable investor. The Company applied the guidance in Staff Accounting Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements” and assessing the out of period items’ impact using the dual approach, as described in the standard, using both the rollover and iron curtain methods to assess significance and concluded the impact on prior period financial statements was not material. The Company continues to review the impact of these items on prior periods and intends to adjust prior year balances to reflect the immaterial changes. Our independent registered public accounting firm has not completed their review procedures on the adjustment. For the consolidated balance sheets, the Company expects to reduce trade accounts payable by an estimated $8 million - $12 million and increase retained earnings by a corresponding amount less the impacts associated with taxes. In addition, we expect to reduce the cost of sales in the consolidated statement of operations and reflect the associated impacts to the provision for income taxes for the comparative periods presented. Additionally, we are in the process of assessing the impact of this issue on our assessment that our internal control over financial reporting is effective.

Once the analysis is finalized and our independent registered public accounting firm has completed their review, the Company intends to revise its consolidated financial statements for the periods prior to June 30, 2021 through subsequent periodic filings.

Non-GAAP Financial Measures

DXP supplements reporting of net income with non-GAAP measurements, including EBITDA, adjusted EBITDA, free cash flow, non-GAAP net income and net debt. This supplemental information should not be considered in isolation or as a substitute for the unaudited GAAP measurements. Additional information regarding EBITDA, adjusted EBITDA, free cash flow and non-GAAP net income referred to in this press release are included below under “Unaudited Reconciliation of Non-GAAP Financial Information.”

The Company believes EBITDA provides additional information about: (i) operating performance, because it assists in comparing the operating performance of the business, as it removes the impact of non-cash depreciation and amortization expense as well as items not directly resulting from core operations such as interest expense and income taxes and (ii) the performance and the effectiveness of operational strategies. Additionally, EBITDA performance is a component of a measure of the Company’s financial covenants under its credit facility. Furthermore, some investors use EBITDA as a supplemental measure to evaluate the overall operating performance of companies in the industry. Management believes that some investors’ understanding of performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing ongoing results of operations. By providing this non-GAAP financial measure, together with a reconciliation from net income, the Company believes it is enhancing investors’ understanding of the business and results of operations, as well as assisting investors in evaluating how well the Company is executing strategic initiatives. Free Cash Flow reconciles to the most directly comparable GAAP financial measure of cash flows from operations as provided below. We believe Free Cash Flow is an important liquidity metric because it measures, during a given period, the amount of cash generated that is available to fund acquisitions, make investments, repay debt obligations, repurchase company shares, and for certain other activities.

Page 2

		NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS

About DXP Enterprises, Inc.

DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (“MROP”) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. These forward-looking statements include without limitation those about the Company’s expectations regarding the impact of the COVID-19 pandemic and the impact of low commodity prices of oil and gas; the Company’s expectations regarding the filing of the Form 10-Q; the description of the anticipated changes in the Company’s consolidated balance sheet and the results of operations and the Company’s assessment of the impact of such anticipated changes; the Company’s business, the Company’s future profitability, cash flow, liquidity, and growth. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; decreases in oil and natural gas prices; decreases in oil and natural gas industry expenditure levels, which may result from decreased oil and natural gas prices or other factors; inability of the Company or its independent auditors to complete the work necessary in order to file the Form 10-Q, in the expected time frame; unanticipated changes to the Company’s operating results in the Form 10-Q as filed or in relation to prior periods, including as compared to the anticipated changes stated here; unanticipated impact of such changes and its materiality; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, economic risks related to the impact of COVID-19, ability to manage changes and the continued health or availability of management personnel and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Page 3

		NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS

DXP ENTERPRISES, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

($ thousands, except per share amounts)

Page 4

		NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS

Business segment financial highlights:

Page 5

		NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS

Reconciliation of Operating Income for Reportable Segments

($ thousands, unaudited)

Unaudited Reconciliation of Non-GAAP Financial Information

($ thousands, unaudited)

The following table is a reconciliation of EBITDA and adjusted EBITDA, a non-GAAP financial measure, to income before taxes, calculated and reported in accordance with U.S. GAAP.

Page 6

		NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS

DXP ENTERPRISES, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

($ thousands, except per share amounts)

Page 7

		NEWS RELEASE CONTACT: Kent Yee Senior Vice President, CFO www.dxpe.com THE INDUSTRIAL DISTRIBUTION EXPERTS

Unaudited Reconciliation of Non-GAAP Financial Information

($ thousands, unaudited)

The following table is a reconciliation of free cash flow, a non-GAAP financial measure, to cash flow from operating activities, calculated and reported in accordance with U.S. GAAP and is an update to DXP’s pre-announcement dated August 5, 2021, for the three and six months period ended June 30, 2021.

Note: Supplemental non-cash items include share repurchases and additional accrued purchase price owed, which have been excluded.

Page 8