AMCON Distributing Company Report Fiscal Year 2024 Results

AMCON Distributing Company (NYSE American: DIT) recently released its financial results for the fiscal year ending September 30, 2024. The company reported fully diluted earnings per share at $7.15 with net income available to common shareholders amounting to $4.3 million during this period.

Christopher H. Atayan, Chairman and Chief Executive Officer of AMCON, expressed satisfaction with the company’s performance in fiscal 2024, highlighting strategic growth in geographical footprint, expansion within existing markets, and enhanced foodservice capabilities. Atayan noted that AMCON has emerged as the third-largest Convenience Distributor in the United States by territory coverage. The successful operational strategies and customer-centric approach have provided consistent and timely goods and services to customers, navigating through challenging environments.

According to the report, the wholesale distribution segment reported $2.7 billion in revenues and $31.3 million in operating income for the fiscal year, while the retail health food segment showed revenues of $42.5 million with operating income of $0.1 million.

Andrew C. Plummer, President and Chief Operating Officer of AMCON, emphasized the company’s focus on growing its foodservice business via its subsidiary, Henry’s Foods. The subsidiary offers a wide range of foodservice programs and store level merchandising. These capabilities are expected to allow customers to effectively compete in the Quick Service Restaurant industry. Investments in technology platforms, advertising, design, and electronic display programs are geared towards providing a competitive edge to customers.

Furthermore, Charles J. Schmaderer, Chief Financial Officer of AMCON, highlighted the company’s emphasis on managing its balance sheet and enhancing liquidity. As of September 30, 2024, shareholders’ equity stood at $111.7 million. Investments were directed towards developing a newly acquired 250,000 square foot distribution facility in Colorado City to support customer growth initiatives in the Intermountain Region.

AMCON Distributing Company, along with its subsidiaries Team Sledd, LLC and Henry’s Foods, Inc., is a leading Convenience and Foodservice Distributor operating in market segments spanning beverages, groceries, automotive supplies, and more. The company also operates fifteen health and natural product retail stores through its Healthy Edge Retail Group, spread across the Midwest and Florida.

This news release may contain forward-looking statements that are subject to risks and uncertainties. Past financial performance might not assure similar outcomes in the future. For more details, visit AMCON Distributing Company’s website or contact Charles J. Schmaderer at 402-331-3727 for further information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AMCON Distributing’s 8K filing here.

About AMCON Distributing

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.