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2月前
AMCON Distributing Company Reports Results for the Quarter Ended March 31, 2026April 20, 2026 4:10 PM
Business Wire
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/
For Further Information Contact:
Charles J. Schmaderer
AMCON Distributing Company
Ph 402-331-3727
Original: AMCON Distributing Company Reports Results for the Quarter Ended March 31, 2026
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