AMCON Distributing Company (“AMCON” or “the Company”) (NYSE American: DIT, NYSE Texas: DIT), an Omaha, Nebraska based Convenience and Foodservice Distributor, is pleased to announce fully diluted earnings per share of $2.52 on net income available to common shareholders of $2.4 million for the fiscal year ended September 30, 2026.

“AMCON’s long-term strategy of providing superior customer service, custom designed merchandising platforms supported by advertising 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 and further the legacy of their enterprises.”

The wholesale distribution segment reported revenues of $3.1 billion and operating income of $25.5 million for fiscal 2026 and the retail health food segment reported revenues of $43.7 million and an operating loss of $0.6 million for fiscal 2026.

“This summer our management team navigated a monumental logistics challenge presented by wildfires that engulfed a large portion of our service territory in Colorado. Through the hard work and dedication of our associates, we were able to maintain service levels and timely deliveries for our customers across this region. When we speak to AMCON’s service philosophy, it is events like this that reinforce our key philosophies and value-add to our customers,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer. Mr. Plummer continued, “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. Our customer base and our management team work collaboratively to tailor unique solutions as we deploy these capabilities across our entire organization. As we grow, this ability to deliver customized programs is a competitive differentiation.”

“We engage in a relentless daily focus on managing the Company’s balance sheet and maximizing our liquidity position. At September 30, 2026, our shareholders’ equity was $117.0 million,” said Charles J. Schmaderer, AMCON’s Chief Financial Officer. Mr. Schmaderer also added, “We have a long-term commitment to investing in technology-based business process improvements to optimize our ability to serve our growing base of customers. We believe these investments enable our customers to compete more effectively in the markets they 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-five (35) states from thirteen (13) 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

CONSOLIDATED BALANCE SHEETS
 

 

 

September

 

September

 

 

2026

 

 

2025

 

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash

 

$

670,804

 

 

$

744,613

 

Accounts receivable, less allowance for credit losses of $2.4 million at September 2026 and $2.4 million at September 2025

 

 

75,373,946

 

 

 

73,192,069

 

Inventories, net

 

 

173,712,380

 

 

 

153,276,545

 

Income taxes receivable

 

 

200,640

 

 

 

140,986

 

Prepaid expenses and other current assets

 

 

11,159,995

 

 

 

12,150,645

 

Total current assets

 

 

261,117,765

 

 

 

239,504,858

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

108,371,621

 

 

 

107,844,655

 

Operating lease right-of-use assets, net

 

 

27,279,797

 

 

 

30,488,841

 

Goodwill

 

 

5,778,325

 

 

 

5,778,325

 

Other intangible assets, net

 

 

3,776,655

 

 

 

4,240,359

 

Other assets

 

 

3,584,931

 

 

 

3,231,488

 

Total assets

 

$

409,909,094

 

 

$

391,088,526

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

77,524,223

 

 

$

69,532,355

 

Accrued expenses

 

 

15,394,368

 

 

 

15,459,406

 

Accrued wages, salaries and bonuses

 

 

7,082,586

 

 

 

6,745,698

 

Current operating lease liabilities

 

 

7,377,743

 

 

 

7,862,117

 

Current maturities of long-term debt

 

 

4,239,088

 

 

 

5,471,310

 

Current mandatorily redeemable non-controlling interest

 

 

—

 

 

 

7,020,895

 

Total current liabilities

 

 

111,618,008

 

 

 

112,091,781

 

 

 

 

 

 

 

 

Credit facilities

 

 

148,254,738

 

 

 

126,804,775

 

Deferred income tax liability, net

 

 

4,713,608

 

 

 

4,048,070

 

Long-term operating lease liabilities

 

 

20,096,037

 

 

 

22,845,456

 

Long-term debt, less current maturities

 

 

6,724,946

 

 

 

11,033,949

 

Other long-term liabilities

 

 

1,527,884

 

 

 

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 September 2026 and 953,378 shares outstanding at September 2025

 

 

13,203

 

 

 

9,799

 

Additional paid-in capital

 

 

39,183,468

 

 

 

36,991,031

 

Retained earnings

 

 

110,182,460

 

 

 

108,475,842

 

Treasury stock at cost

 

 

(32,405,258

)

 

 

(32,405,258

)

Total shareholders’ equity

 

 

116,973,873

 

 

 

113,071,414

Total liabilities and shareholders’ equity

$

409,909,094

$

391,088,526

  

AMCON Distributing Company and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS
 

 

 

Fiscal Years Ended September

 

 

2026

 

 

2025

 

Sales (including excise taxes of $598.7 million and $561.9 million, respectively)

 

$

3,123,380,227

 

 

$

2,816,688,287

 

Cost of sales

 

 

2,931,328,992

 

 

 

2,628,458,039

 

Gross profit

 

 

192,051,235

 

 

 

188,230,248

 

Selling, general and administrative expenses

 

 

170,285,580

 

 

 

165,839,583

 

Depreciation and amortization

 

 

9,747,871

 

 

 

9,835,200

 

Operating expenses

 

 

180,033,451

 

 

 

175,674,783

 

Gain on sales of real estate

 

 

(1,796,723

)

 

 

—

 

 

 

 

178,236,728

 

 

 

175,674,783

 

Operating income

 

 

13,814,507

 

 

 

12,555,465

 

 

 

 

 

 

 

 

Other expense (income):

 

 

 

 

 

 

Interest expense

 

 

9,912,339

 

 

 

10,443,571

 

Change in fair value of mandatorily redeemable non-controlling interest

 

 

438,240

 

 

 

877,409

 

Other income, net

 

 

(256,361

)

 

 

(329,254

)

 

 

 

10,094,218

 

 

 

10,991,726

 

Income from operations before income taxes

 

 

3,720,289

 

 

 

1,563,739

 

Income tax expense

 

 

1,359,000

 

 

 

995,000

 

Net income available to common shareholders

 

$

2,361,289

 

 

$

568,739

 

 

 

 

 

 

 

 

Basic earnings per share available to common shareholders

 

$

2.54

 

 

$

0.62

 

Diluted earnings per share available to common shareholders

 

$

2.52

 

 

$

0.62

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

929,320

 

 

 

919,748

 

Diluted weighted average shares outstanding

 

 

937,064

 

 

 

924,694

 

 

 

 

 

 

 

 

Dividends paid per common share

 

$

0.67

 

 

$

0.67

 

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, 2024

 

1,275,164

 

$

9,648

 

(329,656

)

 

$

(31,272,163

)

 

$

34,439,735

 

 

$

108,552,565

 

 

$

111,729,785

 

Dividends on common stock, $0.67 per share

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(645,462

)

 

 

(645,462

)

Compensation expense and issuance of stock in connection with equity-based awards

 

22,650

 

 

151

 

 

—

 

 

 

—

 

 

 

2,551,296

 

 

 

—

 

 

 

2,551,447

 

Repurchase of common stock

 

—

 

 

—

 

 

(14,780

)

 

 

(1,133,095

)

 

 

—

 

 

 

—

 

 

 

(1,133,095

)

Net income available to common shareholders

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

—

 

 

 

568,739

 

 

 

568,739

 

Balance, September 30, 2025

 

1,297,814

 

$

9,799

 

 

(344,436

)

 

$

(32,405,258

)

 

$

36,991,031

 

 

$

108,475,842

 

 

$

113,071,414

 

Dividends on common stock, $0.67 per share

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(654,671

)

 

 

(654,671

)

Compensation expense and issuance of stock in connection with equity-based awards

 

22,650

 

 

151

 

 

—

 

 

 

—

 

 

 

2,195,690

 

 

 

—

 

 

 

2,195,841

 

Issuance of shares for stock split

 

—

 

 

3,253

 

 

—

 

 

 

—

 

 

 

(3,253

)

 

 

—

 

 

 

—

 

Net income available to common shareholders

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,361,289

 

 

 

2,361,289

 

Balance, September 30, 2026

 

1,320,464

 

$

13,203

 

 

(344,436

)

 

$

(32,405,258

)

 

$

39,183,468

 

 

$

110,182,460

 

 

$

116,973,873

 

AMCON Distributing Company and Subsidiaries

CONSOLIDATED STATEMENTS OF CASH FLOWS
 

 

 

September

 

September

 

 

2026

 

 

2025

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

Net income available to common shareholders

 

$

2,361,289

 

 

$

568,739

 

Adjustments to reconcile net income available to common shareholders to net cash flows from (used in) operating activities:

 

 

 

 

 

 

Depreciation

 

 

9,284,167

 

 

 

9,328,325

 

Amortization

 

 

463,704

 

 

 

506,875

 

Gain on sales of real estate

 

 

(1,796,723

)

 

 

—

 

Gain on sales of property and equipment

 

 

(111,282

)

 

 

(90,237

)

Equity-based compensation

 

 

2,195,841

 

 

 

2,551,447

 

Deferred income taxes

 

 

665,538

 

 

 

(326,246

)

Provision for credit losses

 

 

52,000

 

 

 

53,549

 

Inventory allowance

 

 

(57,093

)

 

 

(320,305

)

Change in fair value of contingent consideration

 

 

—

 

 

 

(1,453,452

)

Change in fair value of mandatorily redeemable non-controlling interest

 

 

438,240

 

 

 

877,409

 

Changes in assets and liabilities, net of effects of business combinations:

 

 

 

 

 

 

Accounts receivable

 

 

(2,233,877

)

 

 

(2,579,336

)

Inventories

 

 

(20,378,742

)

 

 

(5,703,098

)

Prepaid expenses and other current assets

 

 

990,650

 

 

 

616,232

 

Other assets

 

 

(353,443

)

 

 

(278,800

)

Accounts payable

 

 

7,973,308

 

 

 

16,009,694

 

Accrued expenses and accrued wages, salaries and bonuses

 

 

247,101

 

 

 

(1,949,997

)

Other long-term liabilities

 

 

334,803

 

 

 

278,968

 

Income taxes payable and receivable

 

 

(59,654

)

 

 

577,659

 

Net cash flows from (used in) operating activities

 

 

15,827

 

 

 

18,667,426

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

Purchase of property and equipment

 

 

(13,704,004

)

 

 

(9,003,396

)

Proceeds from sales of real estate

 

 

5,573,241

 

 

 

—

 

Proceeds from sales of property and equipment

 

 

246,195

 

 

 

113,214

 

Acquisition of Arrowrock Supply

 

 

—

 

 

 

(6,131,527

)

Net cash flows from (used in) investing activities

 

 

(7,884,568

)

 

 

(15,021,709

)

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

Borrowings under revolving credit facilities

 

 

2,921,715,651

 

 

 

2,588,656,781

 

Repayments under revolving credit facilities

 

 

(2,900,265,688

)

 

 

(2,583,124,010

)

Principal payments on long-term debt

 

 

(5,541,225

)

 

 

(5,260,092

)

Repurchase of common stock

 

 

—

 

 

 

(1,133,095

)

Dividends on common stock

 

 

(654,671

)

 

 

(645,462

)

Redemption and distributions to non-controlling interest

 

 

(7,459,135

)

 

 

(2,068,014

)

Net cash flows from (used in) financing activities

 

 

7,794,932

 

 

 

(3,573,892

)

Net change in cash

 

 

(73,809

)

 

 

71,825

 

Cash, beginning of period

 

 

744,613

 

 

 

672,788

 

Cash, end of period

 

$

670,804

 

 

$

744,613

 

 

 

 

 

 

 

 

Supplemental disclosure of cash flow information:

 

 

 

 

 

 

Cash paid during the period for interest, net of amounts capitalized

 

$

9,913,909

 

 

$

10,522,689

 

Cash paid during the period for income taxes, net of refunds

 

 

746,816

 

 

 

724,088

 

 

 

 

 

 

 

 

Supplemental disclosure of non-cash information:

 

 

 

 

 

 

Equipment acquisitions classified in accounts payable

 

$

59,944

 

 

$

41,384

 

 

Media gallery

About The Author
Business Wire