| Summary of Long-term Debt and Line of Credit |
Long-term debt consisted of the following at: | | | | | | | | | | | | | ($ in thousands except monthly payment amounts) | March 31, 2025 | | September 30, 2024 | Term note payable to Truist Bank, secured and bearing interest at 7.55% at March 31, 2025 and 7.85% at September 30, 2024. The note requires quarterly principal payments commencing on December 31, 2022 and maturing with a full repayment on July 31, 2026 | $ | 375,469 | | | $ | 375,469 | | Revolving note payable for an amount up to $65.0 million to Truist Bank, secured and bearing interest at 7.54% at March 31, 2025 and 7.75% at September 30, 2024. The note requires full repayment on July 31, 2026 | 55,936 | | | 51,150 | | Notes payable to commercial vehicle lenders secured by the value of the vehicles bearing interest at rates ranging from 0.0% to 10.8% per annum. The notes require monthly installment payments of principal and interest ranging from $200 to $3,100 through February 2030 | 2,059 | | | 2,561 | | Note payable to Norfolk Marine Company, unsecured and bearing interest at 4.0% per annum. The note was paid in full on December 1, 2024 | — | | | 1,126 | | | Total debt outstanding | 433,464 | | | 430,306 | | | Less current portion (net of debt issuance costs) | (26,708) | | | (7,874) | | | Less unamortized portion of debt issuance costs | (6,271) | | | (7,498) | | | Long-term debt, net of current portion and unamortized debt issuance costs | $ | 400,485 | | | $ | 414,934 | |
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