Company: DXPE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001020710-25-000137
Chunk: 86

Company: DXP ENTERPRISES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 Credit Agreement is defined as the ratio for the most recently completed four-fiscal quarter period, of (a) EBITDA minus capital expenditures (excluding those financed or funded with debt (other than the ABL Loans), (ii) the portion thereof funded with the net proceeds from asset dispositions of equipment or real property which the Company is permitted to reinvest pursuant to the Term Loan and the portion thereof funded with the net proceeds of casualty insurance or condemnation awards in respect of any equipment and real estate which DXP is not required to use to prepay the ABL Loans pursuant to the Term Loan B Agreement or with the proceeds of casualty insurance or condemnation awards in respect of any other property) minus cash taxes paid (net of cash tax refunds received during such period), to (b) fixed charges. The Company is restricted from allowing its fixed charge coverage ratio be less than 1.00 to 1.00 during a compliance period, which is triggered when the availability under the ABL Revolver falls below a threshold set forth in the ABL Credit Agreement. As of June 30, 2025, the Company's Fixed Charge Coverage Ratio was 2.02 to 1.00.The Company was in compliance with all financial covenants as of June 30, 2025.

As of June 30, 2025, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):Amount2025$3,348 20266,595 20276,595 20286,595 20297,095 Thereafter615,401 Total$645,629 

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NOTE 9 - EARNINGS PER SHARE

Basic earnings per share is computed based on weighted average shares outstanding and excludes dilutive securities. Diluted earnings per share is computed including the impacts of all potentially dilutive securities.The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data): Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Basic earnings per share:  Weighted average shares outstanding15,694 15,868 15,696 15,998 Net income attributable to DXP Enterprises, Inc.$23,612 $16,693 $44,201 $28,025 Convertible preferred stock dividend22 22 45 45 Net income attributable to common shareholders$23,590 $16