AMCON Distributing Company — Fiscal Year 2026 Earnings Summary

Financial Performance:

• Net income available to common shareholders was $2.4 million for fiscal 2026, compared to $568,739 in fiscal 2025.
• Fully diluted earnings per share (EPS) were $2.52 for fiscal 2026, up from $0.62 in fiscal 2025.
• Total sales reached $3.12 billion for fiscal 2026, an increase from $2.82 billion in fiscal 2025.
• Gross profit was $192.1 million for fiscal 2026, compared to $188.2 million in fiscal 2025.
• Operating income increased to $13.8 million in fiscal 2026 from $12.6 million in fiscal 2025.
• Operating expenses were $180.0 million in fiscal 2026, up from $175.7 million in fiscal 2025.
• Interest expense decreased to $9.9 million in fiscal 2026 from $10.4 million in fiscal 2025.
• Shareholders' equity was $117.0 million at September 30, 2026, compared to $113.1 million at September 30, 2025.
• Cash and cash equivalents were $670,804 at September 30, 2026, down from $744,613 at September 30, 2025.
• Accounts receivable increased to $75.4 million at September 30, 2026, from $73.2 million at September 30, 2025.
• Inventories, net, rose to $173.7 million at September 30, 2026, from $153.3 million at September 30, 2025.
• Total assets were $410.0 million at September 30, 2026, compared to $391.1 million at September 30, 2025.
• Total liabilities were $293.0 million at September 30, 2026, compared to $278.0 million at September 30, 2025.
• Credit facilities balance increased to $148.3 million at September 30, 2026, from $126.8 million at September 30, 2025.
• Long-term debt, less current maturities, decreased to $6.7 million at September 30, 2026, from $11.0 million at September 30, 2025.
• Dividends paid per common share remained constant at $0.67 for both fiscal 2026 and fiscal 2025.
• Net cash flows from operating activities were $15,827 for fiscal 2026, compared to $18.7 million for fiscal 2025.
• Net cash flows used in investing activities were $7.9 million for fiscal 2026, compared to $15.0 million used in fiscal 2025.
• Net cash flows from financing activities were $7.8 million for fiscal 2026, compared to $3.6 million used in fiscal 2025.

Business Segments and Product Lines:

• The wholesale distribution segment reported revenues of $3.1 billion and operating income of $25.5 million for fiscal 2026.
• The retail health food segment reported revenues of $43.7 million and an operating loss of $0.6 million for fiscal 2026.
• AMCON operates 35 states from 13 distribution centers located 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 15 health and natural product retail stores in the Midwest and Florida.
• Subsidiaries include Team Sledd, LLC and Henry's Foods, Inc.

Management Commentary and Tone:

• Chairman and CEO Christopher H. Atayan stated the company's long-term strategy of superior customer service, custom merchandising, advertising, and technology positions the organization well.
• CEO Atayan noted the company continues to actively seek strategic acquisition opportunities for operators aligning with their customer-focused approach.
• President and COO Andrew C. Plummer highlighted the management team's ability to navigate a "monumental logistics challenge" caused by wildfires in Colorado while maintaining service levels.
• COO Plummer emphasized that proprietary technology and integrated advertising programs provide a competitive edge and are a key differentiation as the company grows.
• CFO Charles J. Schmaderer stated the company engages in a "relentless daily focus on managing the Company's balance sheet and maximizing our liquidity position."
• CFO Schmaderer added a long-term commitment to investing in technology-based business process improvements to optimize service for a growing customer base.

Other Key Points:

• The company reported a gain on the sale of real estate of $1.8 million in fiscal 2026, with no such gain in fiscal 2025.
• Proceeds from the sale of real estate were $5.6 million in fiscal 2026, compared to $0 in fiscal 2025.
• Purchase of property and equipment increased to $13.7 million in fiscal 2026 from $9.0 million in fiscal 2025.
• The company redeemed and distributed $7.5 million to non-controlling interests in fiscal 2026, compared to $2.1 million in fiscal 2025.
• There were no common stock repurchases in fiscal 2026, whereas $1.1 million was spent on repurchases in fiscal 2025.
• The company acquired Arrowrock Supply in fiscal 2025 for $6.1 million, with no acquisitions in fiscal 2026.
• The company operates under the NYSE American ticker DIT and NYSE Texas ticker DIT.