Company: DXPE
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001020710-25-000092
Chunk: 54

Company: DXP ENTERPRISES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 March 31, 2025, we had available cash of $114.3 million and credit facility availability of $108.9 million. We have a $135.0 million asset-backed line of credit (the "ABL Revolver"), partially offset by letters of credit of  $26.1 million. We had no borrowings outstanding on our ABL Revolver as of March 31, 2025.

Cash Flows

The following table summarizes our net cash flows provided by and used in operating activities, investing activities and financing activities for the periods presented (in thousands):

 Three Months Ended March 31,20252024Net Cash Provided by (Used in):Operating Activities$2,973 $26,989 Investing Activities(30,065)(42,155)Financing Activities(7,083)(18,146)Effect of Foreign Currency47 (111)Net Change in Cash$(34,128)$(33,423)

Operating Activities

The Company generated $3.0 million of cash from operating activities during the three months ended March 31, 2025 compared to $27.0 million of cash generated during the prior year's corresponding period.

Investing Activities

For the three months ended March 31, 2025, net cash used in investing activities was $30.1 million compared to a $42.2 million million use of cash during the prior year’s corresponding period. This $12.1 million decrease was primarily driven by lower acquisition activity during the three months ended March 31, 2025. Total cash paid for acquisitions, net of cash acquired, was $12.9 million compared to $39.3 million for the three months ended March 31, 2024.

24

Financing Activities

For the three months ended March 31, 2025, net cash used in financing activities was $7.1 million, compared to net cash used in financing activities of $18.1 million during the prior year’s corresponding period. The decrease was primarily due to share repurchase activity during the three months ended March 31, 2024. 

We believe the Company has adequate funding to support its working capital needs within the business.

Debt

At March 31, 2025, our total outstanding debt was $647.3 million, or 59.3 percent of total capitalization (total debt plus shareholders' equity) of $1.1 billion. $646.3 million of this outstanding debt bears interest at various floating