Company: DXPE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050322
Chunk: 46

Company: DXP ENTERPRISES INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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million and $125.6 million at September 30, 2025 and December 31, 2024, respectively.Interest rateThe interest rate for the ABL Revolver was 7.50 percent and 7.75 percent as of September 30, 2025 and December 31, 2024, respectively.Facility Size IncreasesEffective, July 1, 2025, the Company exercised its right to increase the ABL Credit Agreement by an aggregate amount of $50 million.Financial CovenantThe Company's principal financial covenant under the ABL Credit Agreement include a Fixed Charge Coverage Ratio. The Fixed Charge Coverage Ratio under the ABL 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 to 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 September 30, 2025, the Company's Fixed Charge Coverage Ratio was 2.18 to 1.00.The Company was in compliance with all financial covenants as of September 30, 2025.

As of September 30, 2025, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):Amount2025$1,724 20266,595 20276,595 20286,595 20297,095 Thereafter615,401 Total$644,005 

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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