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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Cash flows provided by (used in) operating activities:      
Net income $ 73,495 $ 35,223 $ 31,945
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
(Increase) decrease in the fair value of derivative instruments [1] (13,390) 19,018 1,977
Depreciation and amortization 36,420 32,482 33,434
Provision for losses on accounts receivable 6,879 8,042 9,761
Change in deferred taxes 8,527 (3,989) (501)
Other income, net [2] (3,822) 0 0
Changes in operating assets and liabilities net of amounts related to acquisitions:      
(Increase) decrease in receivables (14,011) 11,271 15,566
(Increase) decrease in inventories (3,231) 18,475 26,994
(Increase) decrease in other assets (5,264) 8,786 13,873
Increase (decrease) in accounts payable 1,591 (3,926) (13,824)
(Decrease) increase in customer credit balances (19,128) (15,546) 17,585
Increase (decrease) in other current and long-term liabilities 2,884 1,142 (13,152)
Net cash provided by operating activities 70,950 110,978 123,658
Cash flows provided by (used in) investing activities:      
Capital expenditures (14,920) (10,653) (9,012)
Proceeds from sales of fixed assets 5,525 515 958
Proceeds from sale of certain assets 282 0 2,202
Purchase of investments (2,598) (1,668) (2,545)
Acquisitions (88,143) (49,379) (19,800)
Net cash used in investing activities (99,854) (61,185) (28,197)
Cash flows provided by (used in) financing activities:      
Revolving credit facility borrowings 75,359 79,596 125,601
Revolving credit facility repayments (75,364) (79,831) (145,637)
Proceeds from term loan 0 210,000 0
Loan repayments (21,000) (148,500) (16,500)
Distributions (26,116) (25,038) (23,744)
Unit repurchases (15,595) (11,088) (4,475)
Customer retainage payments (791) (719) (57)
Payments of debt issuance costs (241) (2,069) (78)
Net cash (used in) provided by financing activities (63,748) 22,351 (64,890)
Net increase (decrease) in cash, cash equivalents and restricted cash (92,652) 72,144 30,571
Cash, cash equivalents and restricted cash at beginning of period 117,585 45,441 14,870
Cash, cash equivalents and restricted cash at end of period $ 24,933 $ 117,585 $ 45,441
[1] Represents the change in value of unrealized open positions and expired options.
[2] See Note 2 – Summary of Significant Accounting Policies - Other Income, Net.