ProfitQuotes.com
symbol lookup  commodity list
Bookmark This Page
Friday's ETF with Unusual Volume: RSPU

Fri, 03 May 16:24:07 GMT
S&P 500 Analyst Moves: CTRA

Fri, 03 May 16:12:25 GMT
Portfolio Channel
Free Energy Dividend Stock Report
Free Dividend Report - Top Ranked Stocks
Free Dividend Paying Gold/Metals Stocks Report
Get a quote box (like the one below) for your site!
ProfitQuotes.com Commodities Quotes
commodity quotes list
energy quotes  gold quotes
uranium stocks  
solar power stocks

wind power stocks

Industry focus:

advertising stocks,
space stocks,
aerospace stock,
aerospace sector,
list of aerospace companies,
largest chemical companies,
chemical stock,
chemical news,
best agriculture stocks,
ag stocks,
chinese agriculture stocks,
top agriculture companies,
agriculture stocks,
agricultural stocks,
agricultural stock,
stocks agriculture,
agriculture markets,
agriculture index,
agriculture industries,
agricultural investment,
agriculture investment,
agricultural industry,
farm stock,
airline stock symbols,
airline stock prices,
airline stock,
airlines stock,
clothing stock,
fashion stocks,
publicly traded fashion companies,
clothing company stocks,
apparel stock,
apparel companies,
application software stocks,
asset management stocks,
auto stocks,
auto industry stocks,
chinese auto stocks,
auto stock prices,
automotive stock,
auto parts stocks,
community bank stocks,
regional bank stocks,
canadian bank stocks,
banking stock,
national bank stocks,
commercial bank stock,
banks stock,
bank stock quote,
bank stocks,
banking industry,
alcohol stocks,
beverage stock,
global wine stocks,
wine stocks,
liquor stock,
biotech stocks list,
biotechnology investing,
public biotech companies,
top biotech stocks,
nanotechnology stock,
largest biotech companies,
biotechnology stock,
biotech investing,
investing in biotech,
best biotech companies,
bio stocks,
biotech sector,
biotechnology investment,
biopharma companies,
new biotech companies,
biotech investment,
biotechnology industries,
nanotech stocks,
biotech stocks,
biotechnology articles,
biotechnology news,
business stocks,
service stocks,
chemical companies,
chemical industries,
chemical industry,
chemical company,
chemicals company,
cigarette stock,
cigarette company stocks,
cigarette stock symbols,
tobacco company stocks,
tobacco stock,
cigar stocks,
communications stocks,
communication stock,
computer peripherals companies,
computer peripherals,
computers stocks,
computer stock,
computer web,
internet stocks,
construction stocks,
machinery stocks,
builders stocks,
building stocks,
consumer goods stocks,
consumer services stocks,
consumer services companies,
lending stocks,
mortgage banking,
lending companies,
mortgage bankers,
loan services,
mortgage services,
mortgage bank,
loan bank,
defense stocks,
defensive stock,
department store stocks,
diagnostic company,
diagnostic companies,
pharmaceuticals stocks,
drug stocks,
drug company stocks,
pharma stock,
education stocks,
college stock,
electric utility stocks,
electric company stocks,
electric utilities stocks,
utility stocks,
utilities stocks,
power equipment companies,
electrical supply companies,
electronic stocks,
entertainment stock,
movie stocks,
movies companies,
movie company,
cefs,
open ended and closed ended mutual funds,
closed ended investment,
closed ended fund,
bonds fund,
closed end,
food stock,
game stock,
gambling stocks,
casino stocks,
gaming stocks list,
gaming stocks,
gas utility companies,
gas company stocks,
construction industries,
builders contractors,
construction services,
construction industry,
grocery store stocks,
supermarket stock,
drug store stocks,
home stocks,
furniture stock,
home improvement stocks,
medical company stocks,
top medical stocks,
medical stock,
hospital stock,
medical supply stocks,
medical technology stocks,
medical device stocks,
medical equipment stocks,
copper mining,
palladium mining stocks,
mining metals,
mining,
mining news,
gold exploration,
mining share price,
lithium mines,
mining industries,
international mining companies,
mining information,
molybdenum mining companies,
nickel mining companies,
metals and mining stocks,
gold and silver mining stocks,
copper mining companies,
rare earth mining companies,
rare metals stocks,
rare earth stocks,
metals stocks,
welding stock,
nonprecious metals,
non metallic mining,
office supplies companies,
office supply companies,
oil services stocks,
oil pipeline stocks,
gas pipeline stocks,
gas pipeline companies,
pipeline companies,
natural gas pipeline companies,
oil services companies,
oil field services,
oil service stocks,
natural gas pipelines,
oilfield service companies,
oil and gas pipeline companies,
oil gas pipeline,
oil exploration stocks,
oil exploration sector,
oil exploration companies,
oil drilling stocks,
oil drilling companies,
oil production companies,
china oil companies,
brazil oil companies,
china oil stocks,
brazil oil stocks,
oil companies,
oil stocks,
oil drilling,
oil exploration,
offshore oil drilling companies,
list of oil drilling companies,
oil and gas exploration,
oil and gas drilling,
oil and gas stocks,
oil and gas drilling companies,
oil refining companies,
oil marketing companies,
oil refining stocks,
oil refining sector,
oil refinery companies,
oil refinery stocks,
major oil companies,
oil sector,
oil refinery,
oil refinery company,
oil company,
oil marketing company,
oil refining company,
oil refining industry,
major oil companies list,
oil and gas companies,
crude oil stocks,
packaging companies,
container companies,
packaging stocks,
packaging sector,
container sector,
pulp stocks,
paper stocks,
timber stocks,
pulp companies,
paper companies,
timber companies,
timber trusts,
cardboard companies,
paper sector,
timber sector,
paper companies list,
silver mining companies,
gold mining companies,
gold mining sector,
precious metal stocks,
mining companies,
exploration sector,
mining sector,
exploration stocks,
mining stocks,
silver stocks,
gold stocks,
gold mining stocks,
silver mining stocks,
silver mining company,
canadian mining companies,
gold mining,
gold mining company,
mining company,
list of mining companies,
gold stocks list,
largest gold mining companies,
silver mining,
printing companies,
printing stocks,
printing sector,
newspaper stocks,
newspaper sector,
newspaper companies,
publishing stocks,
publishing sector,
publishing companies,
digital media companies,
digital media stocks,
digital media sector,
book publishing companies,
digital media company,
publishing company,
railroad stocks,
railroad sector,
railroad companies,
railroad company,
railroad investment,
major railroad companies,
real estate companies,
real estate stock,
real estate public companies,
real estate investing,
real estate investments,
real estate sector,
commercial real estate investing,
real estate investment firms,
real estate investing guide,
REITs,
real estate investment trust,
REIT sector,
REIT stocks,
REITs sector,
REITs stock,
public REITs,
real estate investment trusts,
real estate investment trust companies,
real estate investment trusts REITs,
real estate investment companies,
real estate investment company,
real estate investment trust REIT,
rubber stocks,
plastic stocks,
rubber companies,
plastic companies,
rubber sector,
plastic sector,
plastic manufacturing companies,
rubber company,
plastic company,
semiconductor stocks,
semiconductor investments,
semi stocks,
semiconductor companies,
semiconductor sector,
shipping stocks,
dry bulk stocks,
container stocks,
dry bulk shipping,
dry bulk shipping companies,
tanker stocks,
shipping companies,
shipping sector,
specialty retail,
retail stocks,
retail investing,
retail store stocks,
consumer stocks,
consumer investment,
retail companies,
retail sector,
sports stocks,
sports investing,
sporting goods stocks,
sports investments,
sporting goods companies,
sporting goods sector,
stock message boards,
television stocks,
television investment,
radio stocks,
radio invest,
media stocks,
media invest,
media investment,
media investing,
television companies,
television sector,
radio sector,
radio companies,
media companies,
media sector,
textile stocks,
apparel stocks,
textile investment,
textile companies,
textile sector,
apparel sector,
freight investment,
transportation investment,
truck investment ,
freight stocks,
transportation stocks,
trucking stocks,
trucking companies,
trucking sector,
waste management stocks,
waste stocks,
recycling stocks,
waste investment,
waste companies,
waste sector,
water stocks,
water utilities,
water investing,
water investment,
water companies,
water sector

Home Oil & Gas Electricity Metals Treasuries Stocks My Portfolios Forex
News - Full Story
 Related Quotes
 Amcon Distributing Company  160.20   2.30  1.46%
 Enter Symbols: 

AMCON Distributing Company Reports Results for the Quarter Ended March 31, 2024

OMAHA, Neb., Apr. 18 /BusinessWire/ -- 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 $0.89 on net income available to common shareholders of $0.5 million for its second fiscal quarter ended March 31, 2024.

"Labor shortages, supply chain issues, inflation, volatility in energy prices, and the impact of rising interest rates continue to present challenges for our business. AMCON's customer-centric philosophy is a competitive advantage in this economic environment, as our customers rely on our ability to deliver a timely flow of goods and services," said Christopher H. Atayan, AMCON's Chairman and Chief Executive Officer. He further noted, "We welcome our new team members and customers from our recently announced acquisition of Burklund Distributors, Inc. AMCON is committed to pursuing strategic acquisition opportunities in the Convenience Distributor and Foodservice sectors."

"Foodservice, technology platforms, and associated staffing for these strategic areas are a central focus for our management team," said Andrew C. Plummer, AMCON's President and Chief Operating Officer. Mr. Plummer added, "We are actively expanding our geographic reach to better serve our customers as they grow their store footprints."

Charles J. Schmaderer, AMCON's Chief Financial Officer said, "At March 31, 2024, our shareholders' equity was $108.0 million. We continue to maintain a strong liquidity position and recent amendments to our bank credit facilities provided additional flexibility to pursue our strategic objectives that materialized during the quarter." Mr. Schmaderer also added, "We continue to invest in the completion of our 175,000 square foot distribution facility in Springfield, Missouri. In addition, we are also deploying capital in enhanced foodservice capabilities in our recently purchased 250,000 square foot facility in Colorado City, Colorado."

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 with twelve (12) distribution centers in Colorado, Illinois, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, Tennessee, and West Virginia. Through its Healthy Edge Retail Group, AMCON operates fourteen (14) 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, 2024 and September 30, 2023

March

September

2024

2023

(Unaudited)

ASSETS

Current assets:

Cash

$

951,521

$

790,931

Accounts receivable, less allowance for credit losses of $2.3 million at March 2024 and $2.4 million at September 2023

66,881,140

70,878,420

Inventories, net

121,324,279

158,582,816

Income taxes receivable

844,730

1,854,484

Prepaid expenses and other current assets

15,244,494

13,564,056

Total current assets

205,246,164

245,670,707

Property and equipment, net

94,475,740

80,607,451

Operating lease right-of-use assets, net

22,830,252

23,173,287

Goodwill

5,778,325

5,778,325

Other intangible assets, net

5,016,084

5,284,935

Other assets

2,810,304

2,914,495

Total assets

$

336,156,869

$

363,429,200

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

51,726,762

$

43,099,326

Accrued expenses

12,661,273

14,922,279

Accrued wages, salaries and bonuses

5,371,550

8,886,529

Current operating lease liabilities

6,031,117

6,063,048

Current maturities of long-term debt

4,485,028

1,955,065

Current mandatorily redeemable non-controlling interest

1,812,558

1,703,604

Total current liabilities

82,088,288

76,629,851

Credit facilities

99,194,708

140,437,989

Deferred income tax liability, net

5,071,404

4,917,960

Long-term operating lease liabilities

17,106,256

17,408,758

Long-term debt, less current maturities

16,045,738

11,675,439

Mandatorily redeemable non-controlling interest, less current portion

8,012,406

7,787,227

Other long-term liabilities

686,435

402,882

Shareholders' equity:

Preferred stock, $.01 par value, 1,000,000 shares authorized

-

-

Common stock, $.01 par value, 3,000,000 shares authorized, 630,362 shares outstanding at March 2024 and 608,689 shares outstanding at September 2023

9,648

9,431

Additional paid-in capital

33,160,639

30,585,388

Retained earnings

106,053,510

104,846,438

Treasury stock at cost

(31,272,163

)

(31,272,163

)

Total shareholders' equity

107,951,634

104,169,094

Total liabilities and shareholders' equity

$

336,156,869

$

363,429,200

AMCON Distributing Company and Subsidiaries

Condensed Consolidated Unaudited Statements of Operations

for the three and six months ended March 31, 2024 and 2023

For the three months ended March

For the six months ended March

2024

2023

2024

2023

Sales (including excise taxes of $127.4 and $130.9 million, and $265.5 and $261.3 million, respectively)

$

601,877,306

$

584,993,848

$

1,246,836,380

$

1,150,983,356

Cost of sales

559,566,439

543,861,287

1,161,224,591

1,074,881,211

Gross profit

42,310,867

41,132,561

85,611,789

76,102,145

Selling, general and administrative expenses

36,677,814

33,996,988

73,936,491

62,376,176

Depreciation and amortization

2,289,390

1,807,753

4,508,558

2,878,639

38,967,204

35,804,741

78,445,049

65,254,815

Operating income

3,343,663

5,327,820

7,166,740

10,847,330

Other expense (income):

Interest expense

2,247,737

2,169,541

4,559,250

3,863,698

Change in fair value of mandatorily redeemable non-controlling interest

134,389

221,030

334,133

166,114

Other (income), net

(191,006

)

(173,725

)

(754,147

)

(227,257

)

2,191,120

2,216,846

4,139,236

3,802,555

Income from operations before income taxes

1,152,543

3,110,974

3,027,504

7,044,775

Income tax expense

613,000

1,045,400

1,417,000

2,350,200

Net income available to common shareholders

$

539,543

$

2,065,574

$

1,610,504

$

4,694,575

Basic earnings per share available to common shareholders

$

0.90

$

3.53

$

2.69

$

8.04

Diluted earnings per share available to common shareholders

$

0.89

$

3.49

$

2.66

$

7.94

Basic weighted average shares outstanding

600,161

585,885

597,879

583,725

Diluted weighted average shares outstanding

608,029

592,448

605,917

591,249

Dividends paid per common share

$

0.46

$

5.18

$

0.64

$

5.36

AMCON Distributing Company and Subsidiaries

Condensed Consolidated Unaudited Statements of Shareholders' Equity

for the three and six months ended March 31, 2024 and 2023

Additional

Common Stock

Treasury Stock

Paid-in

Retained

Shares

Amount

Shares

Amount

Capital

Earnings

Total

THREE MONTHS ENDED MARCH 2023

Balance, January 1, 2023

943,272

$

9,431

(332,220

)

$

(30,867,287

)

$

29,357,154

$

96,212,704

$

94,712,002

Dividends on common stock, $.18 per share

-

-

-

-

-

(111,220

)

(111,220

)

Compensation expense related to equity-based awards

-

-

-

-

409,412

-

409,412

Net income available to common shareholders

-

-

-

-

-

2,065,574

2,065,574

Balance, March 31, 2023

943,272

$

9,431

(332,220

)

$

(30,867,287

)

$

29,766,566

$

98,167,058

$

97,075,768

THREE MONTHS ENDED MARCH 2024

Balance, January 1, 2024

964,945

$

9,648

(334,583

)

$

(31,272,163

)

$

32,521,091

$

105,627,432

$

106,886,008

Dividends on common stock, $0.18 per share

-

-

-

-

-

(113,465

)

(113,465

)

Compensation expense related to equity-based awards

-

-

-

-

639,548

-

639,548

Net income available to common shareholders

-

-

-

-

-

539,543

539,543

Balance, March 31, 2024

964,945

$

9,648

(334,583

)

$

(31,272,163

)

$

33,160,639

$

106,053,510

$

107,951,634

Additional

Common Stock

Treasury Stock

Paid-in

Retained

Shares

Amount

Shares

Amount

Capital

Earnings

Total

SIX MONTHS ENDED MARCH 2023

Balance, October 1, 2022

917,009

$

9,168

(332,220

)

$

(30,867,287

)

$

26,903,201

$

96,784,353

$

92,829,435

Dividends on common stock, $5.36 per share

-

-

-

-

-

(3,311,870

)

(3,311,870

)

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

26,263

263

-

-

2,863,365

-

2,863,628

Net income available to common shareholders

-

-

-

-

-

4,694,575

4,694,575

Balance, March 31, 2023

943,272

$

9,431

(332,220

)

$

(30,867,287

)

$

29,766,566

$

98,167,058

$

97,075,768

SIX MONTHS ENDED MARCH 2024

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, $0.64 per share

-

-

-

-

-

(403,432

)

(403,432

)

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

21,673

217

-

-

2,575,251

-

2,575,468

Net income available to common shareholders

-

-

-

-

-

1,610,504

1,610,504

Balance, March 31, 2024

964,945

$

9,648

(334,583

)

$

(31,272,163

)

$

33,160,639

$

106,053,510

$

107,951,634

AMCON Distributing Company and Subsidiaries

Condensed Consolidated Unaudited Statements of Cash Flows

for the six months ended March 31, 2024 and 2023

March

March

2024

2023

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income available to common shareholders

$

1,610,504

$

4,694,575

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

Depreciation

4,239,707

2,732,312

Amortization

268,851

146,327

(Gain) loss on sales of property and equipment

(105,505

)

(133,159

)

Equity-based compensation

1,210,685

1,061,383

Deferred income taxes

153,444

989,702

Provision for credit losses

(133,707

)

(378,302

)

Inventory allowance

22,413

(6,947

)

Change in fair value of mandatorily redeemable non-controlling interest

334,133

166,114

Changes in assets and liabilities:

Accounts receivable

4,130,987

5,097,281

Inventories

37,236,124

19,843,973

Prepaid and other current assets

(1,680,438

)

(411,185

)

Other assets

104,191

(275,796

)

Accounts payable

9,475,057

10,457,273

Accrued expenses and accrued wages, salaries and bonuses

(4,402,600

)

(1,094,009

)

Other long-term liabilities

283,553

116,896

Income taxes payable and receivable

1,009,754

(59,527

)

Net cash flows from (used in) operating activities

53,757,153

42,946,911

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of property and equipment

(11,084,390

)

(2,760,586

)

Proceeds from sales of property and equipment

234,278

137,500

Acquisition of Henry's

-

(54,958,637

)

Net cash flows from (used in) investing activities

(10,850,112

)

(57,581,723

)

CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings under revolving credit facilities

1,128,853,805

1,184,888,842

Repayments under revolving credit facilities

(1,170,097,086

)

(1,173,087,034

)

Proceeds from borrowings on long-term debt

-

7,000,000

Principal payments on long-term debt

(1,099,738

)

(504,941

)

Dividends on common stock

(403,432

)

(3,311,870

)

Net cash flows from (used in) financing activities

(42,746,451

)

14,984,997

Net change in cash

160,590

350,185

Cash, beginning of period

790,931

431,576

Cash, end of period

$

951,521

$

781,761

Supplemental disclosure of cash flow information:

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

$

4,568,790

$

3,527,737

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

194,902

1,419,354

Supplemental disclosure of non-cash information:

Equipment acquisitions classified in accounts payable

$

167,913

$

132,876

Purchase of property financed with debt

8,000,000

-

Issuance of common stock in connection with the vesting of equity-based awards

1,296,372

2,044,805

<  back


TickerTech.com Private-label branded pages powered by TickerTech.com. Copyright © 2024 Ticker Technologies, All Rights Reserved. Quote data is at least 20 minutes delayed. NYMEX/COMEX data is at least 30 minutes delayed. Please read other important disclaimer information.
"Wisdom: to live in the present, plan for the future, and profit from the past." - Unknown
Google
 

© Ticker Technologies, all rights reserved. Profitquotes.com is wholly owned by Ticker Technologies and serves to demonstrate the company's products to prospective clients. All quotes are in US Eastern Time (EST) and delayed at least 15 minutes. NYMEX/COMEX data delayed at least 30 minutes. Data is presented for informational purposes only and not intended for investment purposes. Nothing on this site should be considered advice, opinions, recommendations, or endorsements from ProfitQuotes.com or TTI Group. Full Disclaimer.