AMCON Distributing Company Reports Results for the Quarter Ended June 30, 2026

About this update from Amcon Distributing Company

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 $2.85 on net income available to common shareholders of $2.7 million for its third fiscal quarter ended June 30, 2026. “AMCON’s operating philosophy has always been centered on a superior level of customer service. We are seeing the benefits of our approach and the associated commitment in facilities and geographic reach to support our retail partners,” 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 ability to deliver product in an efficient fashion is a key strategic benefit to our retail partners in an era of rising costs,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer. He further noted, “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.” For the fiscal quarter ended June 2026, the wholesale distribution segment reported revenues of $824.7 million and operating income of $9.2 million, and the retail health food segment reported revenues of $10.7 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 June 30, 2026, our shareholders’ equity was $115.5 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. We were pleased to be able to divest two of our facilities in the third quarter which enabled us to realize greater operating efficiency as a result.” 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 thirteen (13) distribution centers in Colorado, Idaho, Illinois, Indiana, Minnesota, Missouri, Nebraska, 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 June 30, 2026 and September 30, 2025           June   September     2026     2025       (Unaudited)       ASSETS             Current assets:             Cash   $ 636,644     $ 744,613   Accounts receivable, less allowance for credit losses of $2.7 million at June 2026 and $2.4 million at September 2025     77,799,572       73,192,069   Inventories, net     153,611,733       153,276,545   Income taxes receivable     —       140,986   Prepaid expenses and other current assets     17,199,541       12,150,645   Total current assets     249,247,490       239,504,858                 Property and equipment, net     108,959,374       107,844,655   Operating lease right-of-use assets, net     27,859,940       30,488,841   Goodwill     5,778,325       5,778,325   Other intangible assets, net     3,892,581       4,240,359   Other assets     3,587,673       3,231,488   Total assets   $ 399,325,383     $ 391,088,526                 LIABILITIES AND SHAREHOLDERS’ EQUITY             Current liabilities:             Accounts payable   $ 56,103,868     $ 69,532,355   Accrued expenses     15,978,173       15,459,406   Accrued wages, salaries and bonuses     5,090,221       6,745,698   Income taxes payable     996,840       —   Current operating lease liabilities     7,666,894       7,862,117   Current maturities of long-term debt     4,854,777       5,471,310   Current mandatorily redeemable non-controlling interest     —       7,020,895   Total current liabilities     90,690,773       112,091,781                 Credit facilities     160,766,169       126,804,775   Deferred income tax liability, net     3,102,139       4,048,070   Long-term operating lease liabilities     20,364,983       22,845,456   Long-term debt, less current maturities     7,478,293       11,033,949   Other long-term liabilities     1,437,230       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 June 2026 and 953,378 shares outstanding at September 2025     13,203       9,799   Additional paid-in capital     38,634,508       36,991,031   Retained earnings     109,243,343       108,475,842   Treasury stock at cost     (32,405,258 )     (32,405,258 ) Total shareholders’ equity     115,485,796       113,071,414   Total liabilities and shareholders’ equity   $ 399,325,383     $ 391,088,526   AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Operations for the three and nine months ended June 30, 2026 and 2025         For the three months ended June   For the nine months ended June     2026     2025     2026     2025   Sales (including excise taxes of $157.7 million and $141.7 million, and $438.8 and $411.2 million, respectively)   $ 835,340,185     $ 739,615,416     $ 2,281,047,956     $ 2,070,391,760   Cost of sales     785,535,765       690,000,517       2,139,706,010       1,930,855,424   Gross profit     49,804,420       49,614,899       141,341,946       139,536,336   Selling, general and administrative expenses     43,013,403       42,529,118       125,988,512       123,224,702   Depreciation and amortization     2,338,431       2,222,243       7,342,674       7,315,871   Operating expenses     45,351,834       44,751,361       133,331,186       130,540,573   Gain on sales of real estate     (1,796,723 )     —       (1,796,723 )     —         43,555,111       44,751,361       131,534,463       130,540,573   Operating income     6,249,309       4,863,538       9,807,483       8,995,763                             Other expense (income):                         Interest expense     2,590,977       2,671,004       7,480,651       7,784,032   Change in fair value of mandatorily redeemable non-controlling interest     —       195,750       438,240       663,418   Other income, net     (43,234 )     (111,763 )     (249,457 )     (279,693 )       2,547,743       2,754,991       7,669,434       8,167,757   Income from operations before income taxes     3,701,566       2,108,547       2,138,049       828,006   Income tax expense     1,015,000       790,000       833,000       751,000   Net income available to common shareholders   $ 2,686,566     $ 1,318,547     $ 1,305,049     $ 77,006                             Basic earnings per share available to common shareholders   $ 2.89     $ 1.43     $ 1.41     $ 0.08   Diluted earnings per share available to common shareholders   $ 2.85     $ 1.42     $ 1.40     $ 0.08                             Basic weighted average shares outstanding     930,727       922,857       928,846       920,866   Diluted weighted average shares outstanding     943,918       926,551       934,865       924,387                             Dividends paid per common share   $ 0.12     $ 0.12     $ 0.55     $ 0.55   AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Shareholders’ Equity for the three and nine months ended June 30, 2026 and 2025                           Additional                 Common Stock   Treasury Stock   Paid-in   Retained           Shares   Amount   Shares   Amount   Capital   Earnings   Total THREE MONTHS ENDED JUNE 2025                                       Balance, April 1, 2025   1,297,814   $ 9,799   (329,656 )   $ (31,272,163 )   $ 35,715,308   $ 106,897,928     $ 111,350,872   Dividends on common stock, $0.12 per share   —     —   —       —       —     (116,183 )     (116,183 ) Compensation expense related to equity-based awards   —     —   —       —       637,861     —       637,861   Net income available to common shareholders   —     —   —       —       —     1,318,547       1,318,547   Balance, June 30, 2025   1,297,814   $ 9,799   (329,656 )   $ (31,272,163 )   $ 36,353,169   $ 108,100,292     $ 113,191,097                                           THREE MONTHS ENDED JUNE 2026                                       Balance, April 1, 2026   1,320,464   $ 13,203   (344,436 )   $ (32,405,258 )   $ 38,085,548   $ 106,673,900     $ 112,367,393   Dividends on common stock, $0.12 per share   —     —   —       —       —     (117,123 )     (117,123 ) Compensation expense related to equity-based awards   —     —   —       —       548,960     —       548,960   Net income available to common shareholders   —     —   —       —       —     2,686,566       2,686,566   Balance, June 30, 2026   1,320,464   $ 13,203   (344,436 )   $ (32,405,258 )   $ 38,634,508   $ 109,243,343     $ 115,485,796                           Additional                 Common Stock   Treasury Stock   Paid-in   Retained           Shares   Amount   Shares   Amount   Capital   Earnings   Total NINE MONTHS ENDED JUNE 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, $0.55 per share   —     —   —       —       —       (529,279 )     (529,279 ) Compensation expense and issuance of stock in connection with equity-based awards   22,650     151   —       —       1,913,434       —       1,913,585   Net income available to common shareholders   —     —   —       —       —       77,006       77,006   Balance, June 30, 2025   1,297,814   $ 9,799   (329,656 )   $ (31,272,163 )   $ 36,353,169     $ 108,100,292     $ 113,191,097                                           NINE MONTHS ENDED JUNE 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, $0.55 per share   —     —   —       —       —       (537,548 )     (537,548 ) Compensation expense and issuance of stock in connection with equity-based awards   22,650     151   —       —       1,646,730       —       1,646,881   Issuance of shares for stock split   —     3,253   —       —       (3,253 )     —       —   Net income available to common shareholders   —     —   —       —       —       1,305,049       1,305,049   Balance, June 30, 2026   1,320,464   $ 13,203   (344,436 )   $ (32,405,258 )   $ 38,634,508     $ 109,243,343     $ 115,485,796   AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Cash Flows for the nine months ended June 30, 2026 and 2025       June   June     2026   2025 CASH FLOWS FROM OPERATING ACTIVITIES:             Net income available to common shareholders   $ 1,305,049     $ 77,006   Adjustments to reconcile net income available to common shareholders to net cash flows from (used in) operating activities:             Depreciation     6,994,896       6,924,921   Amortization     347,778       390,950   Gain on sales of real estate     (1,796,723 )     —   Gain on sales of property and equipment     (94,394 )     (83,186 ) Equity-based compensation     1,646,881       1,913,585   Deferred income taxes     (945,931 )     (1,049,698 ) Provision for credit losses     326,000       289,549   Inventory allowance     33,445       (108,194 ) Change in fair value of contingent consideration     —       (1,453,452 ) Change in fair value of mandatorily redeemable non-controlling interest     438,240       663,418   Changes in assets and liabilities, net of effects of business combinations:             Accounts receivable     (4,933,503 )     (8,471,600 ) Inventories     (368,633 )     (1,924,234 ) Prepaid and other current assets     (5,048,896 )     (1,998,163 ) Other assets     (356,185 )     (255,431 ) Accounts payable     (13,645,498 )     (7,669,560 ) Accrued expenses and accrued wages, salaries and bonuses     (1,183,505 )     (1,068,207 ) Other long-term liabilities     244,149       400,606   Income taxes payable and receivable     1,137,826       950,130   Net cash flows from (used in) operating activities     (15,899,004 )     (12,471,560 )               CASH FLOWS FROM INVESTING ACTIVITIES:             Purchase of property and equipment     (11,749,261 )     (8,238,960 ) Proceeds from sales of real estate     5,573,241       —   Proceeds from sales of property and equipment     174,533       106,163   Acquisition of Arrowrock Supply     —       (6,131,527 ) Net cash flows from (used in) investing activities     (6,001,487 )     (14,264,324 )               CASH FLOWS FROM FINANCING ACTIVITIES:             Borrowings under revolving credit facilities     2,163,783,506       1,929,823,754   Repayments under revolving credit facilities     (2,129,822,112 )     (1,896,504,987 ) Principal payments on long-term debt     (4,172,189 )     (3,938,660 ) Dividends on common stock     (537,548 )     (529,279 ) Redemption and distributions to non-controlling interest     (7,459,135 )     (1,961,410 ) Net cash flows from (used in) financing activities     21,792,522       26,889,418   Net change in cash     (107,969 )     153,534   Cash, beginning of period     744,613       672,788   Cash, end of period   $ 636,644     $ 826,322                 Supplemental disclosure of cash flow information:             Cash paid during the period for interest, net of amounts capitalized   $ 7,461,969     $ 7,756,278   Cash paid during the period for income taxes, net of refunds     635,980       831,068                 Supplemental disclosure of non-cash information:             Equipment acquisitions classified in accounts payable   $ 258,395     $ 42,729     View source version on businesswire.com: https://www.businesswire.com/news/home/20260805911212/en/

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