OMAHA, Neb.--(BUSINESS WIRE)--April 20, 2026--
AMCON Distributing Company ("AMCON" or "the Company") (NYSE American: DIT), an Omaha, Nebraska based Convenience and Foodservice Distributor, announces fully diluted loss per share of $2.34 on a net loss available to common shareholders of $2.2 million for its second fiscal quarter ended March 31, 2026.
"AMCON's commitment to proprietary foodservice programs and custom curated store level merchandising is a value-added approach to convenience distribution. We now have the capability to offer turn-key solutions that enable our retail partners the ability to compete favorably with the Quick Service Restaurant industry. Our foodservice programs are supported by AMCON's industry leading platform of services, as well as the foundational support of our operating philosophy centered on a superior level of customer service," said Christopher H. Atayan, AMCON's Chairman and Chief Executive Officer. He further noted, "We continue to actively seek strategic acquisition opportunities for Convenience and Foodservice Distributors, and their families, who desire to align with our customer focused approach philosophy and further the legacy of their enterprises."
"AMCON's broad geographic scope enables us to service customers across multiple time zones. Our customer-centric approach provides extraordinary value to our retail partners in challenging weather conditions as our AMCON teams ensure a consistent and timely flow of goods and services. As we grow, our customer base has demonstrated enthusiasm for our integrated state-of-the-art advertising, design, print and electronic display programs. These marketing tools provide our customers a competitive edge, especially in support of foodservice," said Andrew C. Plummer, AMCON's President and Chief Operating Officer. He further noted, "AMCON's ability to deliver product in an efficient fashion is a key strategic benefit to our retail partners in an era of rising costs."
For the fiscal quarter ended March 2026, the wholesale distribution segment reported revenues of $703.9 million and operating income of $2.2 million, and the retail health food segment reported revenues of $11.8 million and operating income of $0.1 million.
"We continue our relentless daily focus on managing the Company's balance sheet and maximizing our liquidity position. At March 31, 2026, our shareholders' equity was $112.4 million," said Charles J. Schmaderer, AMCON's Chief Financial Officer. Mr. Schmaderer also added, "Cost structures for Convenience Distributors have been impacted by the cumulative impact of inflation over a multi-year period. These inflationary pressures have resulted in higher operating expenses in areas such as product costs, labor and employee benefits, equipment, and insurance."
AMCON, and its subsidiaries Team Sledd, LLC and Henry's Foods, Inc., is a leading Convenience and Foodservice Distributor of consumer products, including beverages, candy, tobacco, groceries, foodservice, frozen and refrigerated foods, automotive supplies and health and beauty care products serving thirty-four (34) states from fifteen (15) distribution centers in Colorado, Idaho, Illinois, Indiana, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Tennessee and West Virginia. Through its Healthy Edge Retail Group, AMCON operates fifteen (15) health and natural product retail stores in the Midwest and Florida.
This news release contains forward-looking statements that are subject to risks and uncertainties and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. A number of factors could affect the future results of the Company and could cause those results to differ materially from those expressed in the Company's forward-looking statements including, without limitation, availability of sufficient cash resources to conduct its business and meet its capital expenditures needs and the other factors described under Item 1.A. of the Company's Annual Report on Form 10-K. Moreover, past financial performance should not be considered a reliable indicator of future performance. Accordingly, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements.
Visit AMCON Distributing Company's web site at: www.amcon.com
AMCON Distributing Company and Subsidiaries
Condensed Consolidated Balance Sheets
March 31, 2026 and September 30, 2025
March September
2026 2025
------------- ---------------
(Unaudited)
ASSETS
Current assets:
Cash $ 643,064 $ 744,613
Accounts receivable, less
allowance for credit losses of
$2.4 million at March 2026 and
$2.4 million at September 2025 72,803,828 73,192,069
Inventories, net 150,695,783 153,276,545
Income taxes receivable 30,156 140,986
Prepaid expenses and other
current assets 16,060,448 12,150,645
Assets held for sale 943,638 --
----------- -----------
Total current assets 241,176,917 239,504,858
Property and equipment, net 111,781,351 107,844,655
Operating lease right-of-use assets,
net 28,527,753 30,488,841
Goodwill 5,778,325 5,778,325
Other intangible assets, net 4,008,507 4,240,359
Other assets 3,194,416 3,231,488
----------- -----------
Total assets $394,467,269 $391,088,526
=========== ===========
LIABILITIES AND SHAREHOLDERS'
EQUITY
Current liabilities:
Accounts payable $ 69,904,304 $ 69,532,355
Accrued expenses 15,552,569 15,459,406
Accrued wages, salaries and
bonuses 5,155,787 6,745,698
Current operating lease
liabilities 7,361,830 7,862,117
Current maturities of long-term
debt 5,513,687 5,471,310
Current mandatorily redeemable
non-controlling interest 7,459,135 7,020,895
----------- -----------
Total current liabilities 110,947,312 112,091,781
Credit facilities 137,063,059 126,804,775
Deferred income tax liability, net 3,251,034 4,048,070
Long-term operating lease
liabilities 21,340,946 22,845,456
Long-term debt, less current
maturities 8,199,693 11,033,949
Other long-term liabilities 1,297,832 1,193,081
Shareholders' equity:
Preferred stock, $.01 par value,
1,000,000 shares authorized -- --
Common stock, $.01 par value,
3,000,000 shares authorized,
976,028 shares outstanding at
March 2026 and 953,378 shares
outstanding at September 2025 13,203 9,799
Additional paid-in capital 38,085,548 36,991,031
Retained earnings 106,673,900 108,475,842
Treasury stock at cost (32,405,258) (32,405,258)
----------- -----------
Total shareholders' equity 112,367,393 113,071,414
----------- -----------
Total liabilities and shareholders'
equity $394,467,269 $391,088,526
=========== ===========
AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Operations
for the three and six months ended March 31, 2026 and 2025
For the three months ended
March For the six months ended March
---------------------------- ----------------------------------
2026 2025 2026 2025
------------- ------------- --------------- -----------------
Sales (including
excise taxes of
$138.0 million and
$126.1 million, and
$281.1 and $269.5
million,
respectively) $715,652,441 $619,503,087 $1,445,707,771 $1,330,776,344
Cost of sales 672,163,242 576,475,202 1,354,170,245 1,240,854,907
----------- ----------- ------------- -------------
Gross profit 43,489,199 43,027,885 91,537,526 89,921,437
----------- ----------- ------------- -------------
Selling, general and
administrative
expenses 41,383,448 40,107,953 82,975,108 80,695,584
Depreciation and
amortization 2,490,471 2,458,027 5,004,243 5,093,628
----------- ----------- ------------- -------------
43,873,919 42,565,980 87,979,351 85,789,212
----------- ----------- ------------- -------------
Operating income
(loss) (384,720) 461,905 3,558,175 4,132,225
----------- ----------- ------------- -------------
Other expense
(income):
Interest expense 2,228,039 2,266,407 4,889,675 5,113,028
Change in fair
value of
mandatorily
redeemable
non-controlling
interest 115,599 272,856 438,240 467,668
Other (income),
net (126,877) (56,398) (206,223) (167,930)
----------- ----------- ------------- -------------
2,216,761 2,482,865 5,121,692 5,412,766
----------- ----------- ------------- -------------
Income (loss) from
operations before
income taxes (2,601,481) (2,020,960) (1,563,517) (1,280,541)
Income tax expense
(benefit) (427,000) (431,000) (182,000) (39,000)
----------- ----------- ------------- -------------
Net income (loss)
available to common
shareholders $ (2,174,481) $ (1,589,960) $ (1,381,517) $ (1,241,541)
=========== =========== ============= =============
Basic earnings
(loss) per share
available to
common
shareholders $ (2.34) $ (1.72) $ (1.49) $ (1.35)
Diluted earnings
(loss) per share
available to
common
shareholders $ (2.34) $ (1.72) $ (1.49) $ (1.35)
Basic weighted
average shares
outstanding 930,727 922,857 927,906 919,870
Diluted weighted
average shares
outstanding 930,727 922,857 927,906 919,870
Dividends paid
per common
share $ 0.31 $ 0.31 $ 0.43 $ 0.43
AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Shareholders' Equity
for the three and six months ended March 31, 2026 and 2025
Additional
Common Stock Treasury Stock Paid-in Retained
------------------ ------------------------
Shares Amount Shares Amount Capital Earnings Total
--------- ------- --------- ------------- ------------ ------------- ---------------
THREE MONTHS
ENDED MARCH
2025
Balance,
January 1,
2025 1,297,814 $ 9,799 (329,656) $(31,272,163) $35,077,446 $108,604,071 $112,419,153
Dividends on
common stock,
$0.12 per
share -- -- -- -- -- (116,183) (116,183)
Compensation
expense
related to
equity-based
awards -- -- -- -- 637,862 -- 637,862
Net loss
available to
common
shareholders -- -- -- -- -- (1,589,960) (1,589,960)
--------- ------ -------- ----------- ---------- ----------- -----------
Balance, March
31, 2025 1,297,814 $ 9,799 (329,656) $(31,272,163) $35,715,308 $106,897,928 $111,350,872
========= ====== ======== =========== ========== =========== ===========
THREE MONTHS
ENDED MARCH
2026
Balance,
January 1,
2026 1,320,464 $ 9,950 (344,436) $(32,405,258) $37,539,841 $108,969,480 $114,114,013
Dividends on
common stock,
$0.12 per
share -- -- -- -- -- (121,099) (121,099)
Compensation
expense
related to
equity-based
awards -- -- -- -- 548,960 -- 548,960
Issuance of
shares for
stock split -- 3,253 -- -- (3,253) --
Net loss
available to
common
shareholders -- -- -- -- -- (2,174,481) (2,174,481)
--------- ------ -------- ----------- ---------- ----------- -----------
Balance, March
31, 2026 1,320,464 $13,203 (344,436) $(32,405,258) $38,085,548 $106,673,900 $112,367,393
========= ====== ======== =========== ========== =========== ===========
Additional
Common Stock Treasury Stock Paid-in Retained
------------------ ------------------------
Shares Amount Shares Amount Capital Earnings Total
--------- ------- --------- ------------- ------------ ------------- ---------------
SIX MONTHS
ENDED MARCH
2025
Balance,
October 1,
2024 1,275,164 $ 9,648 (329,656) $(31,272,163) $34,439,735 $108,552,565 $111,729,785
Dividends on
common stock,
$0.43 per
share -- -- -- -- -- (413,096) (413,096)
Compensation
expense and
issuance of
stock in
connection
with
equity-based
awards 22,650 151 -- -- 1,275,573 -- 1,275,724
Net loss
available to
common
shareholders -- -- -- -- -- (1,241,541) (1,241,541)
--------- ------ -------- ----------- ---------- ----------- -----------
Balance, March
31, 2025 1,297,814 $ 9,799 (329,656) $(31,272,163) $35,715,308 $106,897,928 $111,350,872
========= ====== ======== =========== ========== =========== ===========
SIX MONTHS
ENDED MARCH
2026
Balance,
October 1,
2025 1,297,814 $ 9,799 (344,436) $(32,405,258) $36,991,031 $108,475,842 $113,071,414
Dividends on
common stock,
$0.43 per
share -- -- -- -- -- (420,425) (420,425)
Compensation
expense and
issuance of
stock in
connection
with
equity-based
awards 22,650 151 -- -- 1,097,770 -- 1,097,921
Issuance of
shares for
stock split -- 3,253 -- -- (3,253) -- --
Net loss
available to
common
shareholders -- -- -- -- -- (1,381,517) (1,381,517)
--------- ------ -------- ----------- ---------- ----------- -----------
Balance, March
31, 2026 1,320,464 $13,203 (344,436) $(32,405,258) $38,085,548 $106,673,900 $112,367,393
========= ====== ======== =========== ========== =========== ===========
AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Cash Flows
for the six months ended March 31, 2026 and 2025
March March
2026 2025
---------------- ------------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income (loss) available to
common shareholders $ (1,381,517) $ (1,241,541)
Adjustments to reconcile net
income (loss) available to
common shareholders to net
cash flows from (used in)
operating activities:
Depreciation 4,772,391 4,824,777
Amortization 231,852 268,851
(Gain) loss on sales of
property and equipment (94,394) (44,229)
Equity-based compensation 1,097,921 1,275,724
Deferred income taxes (797,036) (571,672)
Provision for credit losses 4,000 (164,616)
Inventory allowance (8,695) 32,688
Change in fair value of
contingent consideration -- (1,453,452)
Change in fair value of
mandatorily redeemable
non-controlling interest 438,240 467,668
Changes in assets and
liabilities, net of effects
of business combinations:
Accounts receivable 384,241 5,749,877
Inventories 2,589,457 (13,324,448)
Prepaid and other current
assets (3,909,803) (245,028)
Other assets 37,072 (50,666)
Accounts payable (32,480) 2,898,936
Accrued expenses and
accrued wages, salaries
and bonuses (1,540,457) (4,490,508)
Other long-term liabilities 104,751 237,652
Income taxes payable and
receivable 110,830 380,354
-------------- --------------
Net cash flows from (used in)
operating activities 2,006,373 (5,449,633)
-------------- --------------
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchase of property and
equipment (9,328,436) (6,451,773)
Proceeds from sales of
property and equipment 174,534 67,208
Acquisition of Arrowrock
Supply -- (6,131,527)
-------------- --------------
Net cash flows from (used in)
investing activities (9,153,902) (12,516,092)
-------------- --------------
CASH FLOWS FROM FINANCING
ACTIVITIES:
Borrowings under revolving
credit facilities 1,369,524,265 1,262,647,310
Repayments under revolving
credit facilities (1,359,265,981) (1,241,627,743)
Principal payments on
long-term debt (2,791,879) (2,627,680)
Dividends on common stock (420,425) (413,096)
-------------- --------------
Net cash flows from (used in)
financing activities 7,045,980 17,978,791
-------------- --------------
Net change in cash (101,549) 13,066
Cash, beginning of period 744,613 672,788
-------------- --------------
Cash, end of period $ 643,064 $ 685,854
============== ==============
Supplemental disclosure of
cash flow information:
Cash paid during the period
for interest, net of
amounts capitalized $ 4,962,484 $ 5,215,092
Cash paid during the period
for income taxes, net of
refunds 499,080 151,318
Supplemental disclosure of
non-cash information:
Equipment acquisitions
classified in accounts
payable $ 445,813 $ 841,018
View source version on businesswire.com: https://www.businesswire.com/news/home/20260420150889/en/
CONTACT: For Further Information Contact:
Charles J. Schmaderer
AMCON Distributing Company
Ph 402-331-3727
(END) Dow Jones Newswires
April 20, 2026 16:10 ET (20:10 GMT)