OMAHA, Neb.--(BUSINESS WIRE)--November 07, 2025--
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 $0.92 on net income available to common shareholders of $0.6 million for the fiscal year ended September 30, 2025.
"We believe AMCON's long term strategy of providing superior customer service, a wide range of foodservice programs, and leading-edge technology solutions combined with the third largest Convenience Distribution footprint in the United States positions our organization well in the years ahead," said Christopher H. Atayan, AMCON's Chairman and Chief Executive Officer. He further noted, "We continue to actively seek strategic acquisition opportunities for operators who want to align with our customer focused approach philosophy and further the legacy of their enterprises."
The wholesale distribution segment reported revenues of $2.8 billion and operating income of $23.0 million for fiscal 2025 and the retail health food segment reported revenues of $44.5 million and operating income of $0.1 million for fiscal 2025.
"AMCON's proprietary technology suite of services, combined with our integrated state of the art advertising, design, print and electronic display programs are designed to provide our customers a competitive edge," said Andrew C. Plummer, AMCON's President and Chief Operating Officer. Mr. Plummer continued, "Our management team works closely to create unique solutions as we deploy these capabilities across our entire organization."
"We engage in a relentless daily focus on managing the Company's balance sheet and maximizing our liquidity position. At September 30, 2025, our shareholders' equity was $113.1 million," said Charles J. Schmaderer, AMCON's Chief Financial Officer. Mr. Schmaderer also added, "We are presently in the process of integrating our recent acquisitions in order to optimize our customers' growth initiatives in the various regions we serve."
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
CONSOLIDATED BALANCE SHEETS
September September
2025 2024
----------- -----------
ASSETS
Current assets:
Cash $ 744,613 $ 672,788
Accounts receivable, less
allowance for credit losses of
$2.4 million at September 2025
and $2.3 million at September
2024 73,192,069 70,653,907
Inventories, net 153,276,545 144,254,843
Income taxes receivable 140,986 718,645
Prepaid expenses and other
current assets 12,150,645 12,765,088
----------- -----------
Total current assets 239,504,858 229,065,271
Property and equipment, net 107,844,655 106,049,061
Operating lease right-of-use assets,
net 30,488,841 25,514,731
Goodwill 5,778,325 5,778,325
Other intangible assets, net 4,240,359 4,747,234
Other assets 3,231,488 2,952,688
----------- -----------
Total assets $391,088,526 $374,107,310
=========== ===========
LIABILITIES AND SHAREHOLDERS'
EQUITY
Current liabilities:
Accounts payable $ 69,532,355 $ 54,498,225
Accrued expenses 15,459,406 15,802,727
Accrued wages, salaries and
bonuses 6,745,698 8,989,355
Current operating lease
liabilities 7,862,117 7,036,751
Current maturities of long-term
debt 5,471,310 5,202,443
Current mandatorily redeemable
non-controlling interest 7,020,895 1,703,604
----------- -----------
Total current liabilities 112,091,781 93,233,105
Credit facilities 126,804,775 121,272,004
Deferred income tax liability, net 4,048,070 4,374,316
Long-term operating lease
liabilities 22,845,456 18,770,001
Long-term debt, less current
maturities 11,033,949 16,562,908
Mandatorily redeemable
non-controlling interest, less
current portion -- 6,507,896
Other long-term liabilities 1,193,081 1,657,295
Shareholders' equity:
Preferred stock, $.01 par value,
1,000,000 shares authorized -- --
Common stock, $.01 par value,
3,000,000 shares authorized,
635,609 shares outstanding at
September 2025 and 630,362
shares outstanding at September
2024 9,799 9,648
Additional paid-in capital 36,991,031 34,439,735
Retained earnings 108,475,842 108,552,565
Treasury stock at cost (32,405,258) (31,272,163)
----------- -----------
Total shareholders' equity 113,071,414 111,729,785
----------- -----------
Total liabilities and shareholders'
equity $391,088,526 $374,107,310
=========== ===========
AMCON Distributing Company and Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal Years Ended September
--------------------------------------------
2025 2024
---- ------------- ---- -------------
Sales (including excise
taxes of $561.9 million
and $569.5 million,
respectively) $ 2,816,688,287 $ 2,710,981,108
Cost of sales 2,628,458,039 2,528,626,652
---- ------------- ---- -------------
Gross profit 188,230,248 182,354,456
---- ------------- ---- -------------
Selling, general and
administrative expenses 165,839,583 154,878,763
Depreciation and
amortization 9,835,200 9,495,179
---- ------------- ---- -------------
175,674,783 164,373,942
---- ------------- ---- -------------
Operating income 12,555,465 17,980,514
---- ------------- ---- -------------
Other expense (income):
Interest expense 10,443,571 10,413,228
Change in fair value of
mandatorily redeemable
non-controlling
interest 877,409 1,040,968
Other (income), net (329,254) (936,171)
---- ------------- ---- -------------
10,991,726 10,518,025
---- ------------- ---- -------------
Income from operations
before income taxes 1,563,739 7,462,489
Income tax expense 995,000 3,126,000
---- ------------- ---- -------------
Net income available to
common shareholders $ 568,739 $ 4,336,489
==== ============= ==== =============
Basic earnings per
share available to
common shareholders $ 0.93 $ 7.24
Diluted earnings per
share available to
common shareholders $ 0.92 $ 7.15
Basic weighted average
shares outstanding 613,188 599,020
Diluted weighted
average shares
outstanding 616,486 606,782
Dividends paid per
common share $ 1.00 $ 1.00
AMCON Distributing Company and Subsidiaries
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Additional
Common Stock Treasury Stock Paid-in Retained
--------------- ------------------------
Shares Amount Shares Amount Capital Earnings Total
------- ------ --------- ------------- ----------- ------------- ---------------
Balance,
October 1,
2023 943,272 $9,431 (334,583) $(31,272,163) $30,585,388 $104,846,438 $104,169,094
Dividends on
common stock,
$1.00 per
share -- -- -- -- -- (630,362) (630,362)
Compensation
expense and
issuance of
stock in
connection
with
equity-based
awards 21,673 217 -- -- 3,854,347 -- 3,854,564
Net income
available to
common
shareholders -- -- -- -- -- 4,336,489 4,336,489
------- ----- -------- ----------- ---------- ----------- -----------
Balance,
September 30,
2024 964,945 $9,648 (334,583) $(31,272,163) $34,439,735 $108,552,565 $111,729,785
Dividends on
common stock,
$1.00 per
share -- -- -- -- -- (645,462) (645,462)
Compensation
expense and
issuance of
stock in
connection
with
equity-based
awards 15,100 151 -- -- 2,551,296 -- 2,551,447
Repurchase of
common stock -- -- (9,853) (1,133,095) -- -- (1,133,095)
Net income
available to
common
shareholders -- -- -- -- -- 568,739 568,739
------- ----- -------- ----------- ---------- ----------- -----------
Balance,
September 30,
2025 980,045 $9,799 (344,436) $(32,405,258) $36,991,031 $108,475,842 $113,071,414
======= ===== ======== =========== ========== =========== ===========
AMCON Distributing Company and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
September September
2025 2024
-------------- --------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income available to common
shareholders $ 568,739 $ 4,336,489
Adjustments to reconcile net
income available to common
shareholders to net cash
flows from (used in)
operating activities:
Depreciation 9,328,325 8,957,478
Amortization 506,875 537,701
(Gain) loss on sales of
property and equipment (90,237) (177,467)
Equity-based compensation 2,551,447 2,489,781
Deferred income taxes (326,246) (543,644)
Provision for credit losses 53,549 (64,705)
Inventory allowance (320,305) 62,349
Change in fair value of
contingent consideration (1,453,452) (124,992)
Change in fair value of
mandatorily redeemable
non-controlling interest 877,409 1,040,968
Changes in assets and
liabilities, net of effects
of business combinations:
Accounts receivable (2,579,336) 5,900,380
Inventories (5,703,098) 29,003,285
Prepaid and other current
assets 616,232 2,227,044
Other assets (278,800) (38,193)
Accounts payable 16,009,694 11,397,485
Accrued expenses and
accrued wages, salaries
and bonuses (1,949,997) 1,221,322
Other long-term liabilities 278,968 511,231
Income taxes payable and
receivable 577,659 1,135,839
-------------- --------------
Net cash flows from (used in)
operating activities 18,667,426 67,872,351
-------------- --------------
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchase of property and
equipment (9,003,396) (20,429,805)
Proceeds from sales of
property and equipment 113,214 416,546
Acquisition of Arrowrock
Supply (6,131,527) --
Acquisition of Burklund -- (15,464,397)
Acquisition of Richmond
Master -- (6,631,039)
-------------- --------------
Net cash flows from (used in)
investing activities (15,021,709) (42,108,695)
-------------- --------------
CASH FLOWS FROM FINANCING
ACTIVITIES:
Borrowings under revolving
credit facilities 2,588,656,781 2,517,192,464
Repayments under revolving
credit facilities (2,583,124,010) (2,536,358,449)
Principal payments on
long-term debt (5,260,092) (3,765,153)
Repurchase of common stock (1,133,095) --
Dividends on common stock (645,462) (630,362)
Redemption and
distributions to
non-controlling interest (2,068,014) (2,320,299)
-------------- --------------
Net cash flows from (used in)
financing activities (3,573,892) (25,881,799)
-------------- --------------
Net change in cash 71,825 (118,143)
Cash, beginning of period 672,788 790,931
-------------- --------------
Cash, end of period $ 744,613 $ 672,788
============== ==============
Supplemental disclosure of
cash flow information:
Cash paid during the period
for interest, net of
amounts capitalized $ 10,522,689 $ 9,985,313
Cash paid during the period
for income taxes, net of
refunds 724,088 2,520,127
Supplemental disclosure of
non-cash information:
Equipment acquisitions
classified in accounts
payable $ 41,384 $ 1,016,948
Purchase of property
financed with promissory
note -- 8,000,000
Portion of Burklund
acquisition financed with
promissory note -- 3,900,000
Portion of Burklund
acquisition financed with
contingent consideration -- 1,578,444
Issuance of common stock in
connection with the
vesting of equity-based
awards -- 1,296,372
View source version on businesswire.com: https://www.businesswire.com/news/home/20251107907814/en/
CONTACT: For Further Information Contact:
Charles J. Schmaderer
AMCON Distributing Company
Ph 402-331-3727
(END) Dow Jones Newswires
November 07, 2025 16:10 ET (21:10 GMT)
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