EX-99.1 2 tm263508d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

 

 

AMCON DISTRIBUTING COMPANY REPORTS RESULTS FOR THE QUARTER ENDED
DECEMBER 31, 2025

 

NEWS RELEASE

 

Omaha, NE, 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

 

For Further Information Contact:

Charles J. Schmaderer

AMCON Distributing Company

Ph 402-331-3727

 

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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 

 

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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 

 

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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 

 

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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 

 

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