OMAHA, Neb.--(BUSINESS WIRE)--January 19, 2026--
AMCON Distributing Company ("AMCON" or "the Company") (NYSE American: DIT), an Omaha, Nebraska based Convenience and Foodservice Distributor, is pleased to announce fully diluted earnings per share of $1.28 on net income available to common shareholders of $0.8 million for its first fiscal quarter ended December 31, 2025.
"AMCON's industry leading suite of programs and services provides the foundational support for our operating philosophy centered on a superior level of customer service. 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 will enable our retail partners the ability to compete head-on with the Quick Service Restaurant industry," 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 want to align with our customer focused approach philosophy and further the legacy of their enterprises."
"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, " said Andrew C. Plummer, AMCON's President and Chief Operating Officer.
For the fiscal quarter ended December 2025, the wholesale distribution segment reported revenues of $719.3 million and operating income of $6.9 million, and the retail health food segment reported revenues of $10.8 million and an operating loss of $0.2 million.
"We continue our relentless daily focus on managing the Company's balance sheet and maximizing our liquidity position. At December 31, 2025, our shareholders' equity was $114.1 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 fourteen (14) distribution centers in Colorado, Idaho, Illinois, Indiana, Minnesota, Missouri, Nebraska, North Dakota, 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
December 31, 2025 and September 30, 2025
December September
2025 2025
----------- -----------
(Unaudited)
ASSETS
Current assets:
Cash $ 778,753 $ 744,613
Accounts receivable, less
allowance for credit losses of
$2.3 million at December 2025
and $2.4 million at September
2025 69,140,693 73,192,069
Inventories, net 144,398,247 153,276,545
Income taxes receivable -- 140,986
Prepaid expenses and other
current assets 15,643,754 12,150,645
----------- -----------
Total current assets 229,961,447 239,504,858
Property and equipment, net 106,101,670 107,844,655
Operating lease right-of-use assets,
net 29,633,198 30,488,841
Goodwill 5,778,325 5,778,325
Other intangible assets, net 4,124,433 4,240,359
Other assets 3,110,244 3,231,488
----------- -----------
Total assets $378,709,317 $391,088,526
=========== ===========
LIABILITIES AND SHAREHOLDERS'
EQUITY
Current liabilities:
Accounts payable $ 48,459,134 $ 69,532,355
Accrued expenses 14,468,462 15,459,406
Accrued wages, salaries and
bonuses 3,385,796 6,745,698
Income taxes payable 360,668 --
Current operating lease
liabilities 7,579,283 7,862,117
Current maturities of long-term
debt 5,517,971 5,471,310
Current mandatorily redeemable
non-controlling interest 7,343,535 7,020,895
----------- -----------
Total current liabilities 87,114,849 112,091,781
Credit facilities 140,682,183 126,804,775
Deferred income tax liability, net 3,791,416 4,048,070
Long-term operating lease
liabilities 22,240,107 22,845,456
Long-term debt, less current
maturities 9,624,864 11,033,949
Other long-term liabilities 1,141,885 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,
650,709 shares outstanding at
December 2025 and 635,609 shares
outstanding at September 2025 9,950 9,799
Additional paid-in capital 37,539,841 36,991,031
Retained earnings 108,969,480 108,475,842
Treasury stock at cost (32,405,258) (32,405,258)
----------- -----------
Total shareholders' equity 114,114,013 113,071,414
----------- -----------
Total liabilities and shareholders'
equity $378,709,317 $391,088,526
=========== ===========
AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Operations
for the three months ended December 31, 2025 and 2024
For the three months ended December
-------------------------------------------
2025 2024
--------------- --------------
Sales (including excise
taxes of $143.1 million
and $143.4 million,
respectively) $ 730,055,330 $ 711,273,256
Cost of sales 682,007,003 664,379,704
--------------- --------------
Gross profit 48,048,327 46,893,552
--------------- --------------
Selling, general and
administrative expenses 41,591,659 40,587,630
Depreciation and
amortization 2,513,773 2,635,601
--------------- --------------
44,105,432 43,223,231
--------------- --------------
Operating income 3,942,895 3,670,321
--------------- --------------
Other expense (income):
Interest expense 2,661,636 2,846,621
Change in fair value of
mandatorily redeemable
non-controlling
interest 322,640 194,812
Other (income), net (79,345) (111,531)
--------------- --------------
2,904,931 2,929,902
--------------- --------------
Income from operations
before income taxes 1,037,964 740,419
Income tax expense 245,000 392,000
--------------- --------------
Net income available to
common shareholders $ 792,964 $ 348,419
=============== ==============
Basic earnings per share
available to common
shareholders $ 1.29 $ 0.57
Diluted earnings per
share available to
common shareholders $ 1.28 $ 0.57
Basic weighted average
shares outstanding 616,788 611,322
Diluted weighted average
shares outstanding 618,101 613,573
Dividends paid per
common share $ 0.18 $ 0.18
AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Shareholders' Equity
for the three months ended December 31, 2025 and 2024
Additional
Common Stock Treasury Stock Paid-in Retained
--------------- ------------------------
Shares Amount Shares Amount Capital Earnings Total
------- ------ --------- ------------- ----------- ------------- ---------------
THREE MONTHS
ENDED
DECEMBER
2024
Balance,
October 1,
2024 964,945 $9,648 (334,583) $(31,272,163) $34,439,735 $108,552,565 $111,729,785
Dividends on
common stock,
$0.46 per
share -- -- -- -- -- (296,913) (296,913)
Compensation
expense
related to
equity-based
awards 15,100 151 -- -- 637,711 -- 637,862
Net income
available to
common
shareholders -- -- -- -- -- 348,419 348,419
------- ----- -------- ----------- ---------- ----------- -----------
Balance,
December 31,
2024 980,045 $9,799 (334,583) $(31,272,163) $35,077,446 $108,604,071 $112,419,153
======= ===== ======== =========== ========== =========== ===========
THREE MONTHS
ENDED
DECEMBER
2025
Balance,
October 1,
2025 980,045 $9,799 (344,436) $(32,405,258) $36,991,031 $108,475,842 $113,071,414
Dividends on
common stock,
$0.46 per
share -- -- -- -- -- (299,326) (299,326)
Compensation
expense
related to
equity-based
awards 15,100 151 -- -- 548,810 -- 548,961
Net income
available to
common
shareholders -- -- -- -- -- 792,964 792,964
------- ----- -------- ----------- ---------- ----------- -----------
Balance,
December 31,
2025 995,145 $9,950 (344,436) $(32,405,258) $37,539,841 $108,969,480 $114,114,013
======= ===== ======== =========== ========== =========== ===========
AMCON Distributing Company and Subsidiaries
Condensed Consolidated Unaudited Statements of Cash Flows
for the three months ended December 31, 2025 and 2024
December December
2025 2024
------------ ------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income available to common
shareholders $ 792,964 $ 348,419
Adjustments to reconcile net
income available to common
shareholders to net cash flows
from (used in) operating
activities:
Depreciation 2,397,847 2,501,175
Amortization 115,926 134,426
(Gain) loss on sales of
property and equipment 4,869 (840)
Equity-based compensation 548,961 637,862
Deferred income taxes (256,654) 69,577
Provision for credit losses (49,000) 112,746
Inventory allowance 8,538 24,405
Change in fair value of
contingent consideration -- (1,453,452)
Change in fair value of
mandatorily redeemable
non-controlling interest 322,640 194,812
Changes in assets and
liabilities:
Accounts receivable 4,100,376 (49,572)
Inventories 8,869,760 (30,293,089)
Prepaid and other current
assets (3,493,109) 668,184
Other assets 121,244 (190,306)
Accounts payable (21,064,250) (6,911,400)
Accrued expenses and accrued
wages, salaries and bonuses (4,565,585) (6,055,070)
Other long-term liabilities (51,196) 71,823
Income taxes payable and
receivable 501,654 322,423
------------ ------------
Net cash flows from (used in)
operating activities (11,695,015) (39,867,877)
------------ ------------
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchase of property and
equipment (678,402) (3,453,711)
Proceeds from sales of property
and equipment 9,700 12,442
------------ ------------
Net cash flows from (used in)
investing activities (668,702) (3,441,269)
------------ ------------
CASH FLOWS FROM FINANCING
ACTIVITIES:
Borrowings under revolving
credit facilities 699,127,269 713,853,301
Repayments under revolving
credit facilities (685,249,861) (669,224,693)
Principal payments on long-term
debt (1,362,424) (1,340,204)
Dividends on common stock (117,127) (116,184)
------------ ------------
Net cash flows from (used in)
financing activities 12,397,857 43,172,220
------------ ------------
Net change in cash 34,140 (136,926)
Cash, beginning of period 744,613 672,788
------------ ------------
Cash, end of period $ 778,753 $ 535,862
============ ============
Supplemental disclosure of cash
flow information:
Cash paid during the period for
interest, net of amounts
capitalized $ 2,635,661 $ 2,815,683
Supplemental disclosure of
non-cash information:
Equipment acquisitions
classified in accounts
payable $ 32,413 $ 772,820
Dividends declared, not paid 182,199 180,729
View source version on businesswire.com: https://www.businesswire.com/news/home/20260119627015/en/
CONTACT: For Further Information Contact:
Charles J. Schmaderer
AMCON Distributing Company
Ph 402-331-3727
(END) Dow Jones Newswires
January 19, 2026 16:10 ET (21:10 GMT)