OMAHA, Neb.--(BUSINESS WIRE)--July 18, 2022--AMCON Distributing Company (“AMCON” or “Company”) (NYSE American: DIT), an Omaha, Nebraska based consumer products company, is pleased to announce fully diluted earnings per share of $10.27 on net income available to common shareholders of $6.0 million for its third fiscal quarter ended June 30, 2022.

“We are pleased with our results for the third fiscal quarter. Our strategic plan, with its consistent focus on customer service, has furthered AMCON’s industry leadership in a highly challenging operating environment,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. Mr. Atayan further noted, “AMCON continues to seek out acquisition opportunities for convenience and food service distributors who want to align with the Company’s growing platform and customer centric management philosophy.”

The wholesale distribution segment reported revenues of $539.2 million and operating income of $9.4 million for the third quarter of fiscal 2022 which includes $108.7 million of revenue and $1.6 million of operating income related to the Company’s majority investment in Team Sledd, LLC (“Team Sledd”). The retail health food segment reported revenues of $11.4 million and operating income of $0.2 million for the third quarter of fiscal 2022.

“After a considerable search, we have acquired and are developing a new 160,000 square foot distribution center located near Springfield, Missouri to support the growth of our customer base,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer. Mr. Plummer further noted, “We continue to search for facilities in, and adjacent to, the geographic markets we serve.”

“AMCON acquired a controlling interest in Team Sledd during the period. As a result, we are now consolidating Team Sledd into our financial statements and recorded a $2.4 million gain related to the Company’s ownership interest in Team Sledd. We have been delighted with our partnership with Team Sledd since our initial investment,” said Charles J. Schmaderer, AMCON’s Chief Financial Officer. Mr. Schmaderer further noted, “During the period, AMCON amended and expanded its revolving credit facility with Bank of America and BMO Harris Bank to support strategic growth initiatives including the development of our new warehouse facility near Springfield, Missouri. As a core operating principle, we continue to maintain high levels of liquidity and ended the quarter with $99.1 million of consolidated shareholders’ equity.”

AMCON’s Healthy Edge Retail Group plays an important role in the health and wellness of the communities it serves. Our long-term relationship with the organic/natural products vendor community has enabled our stores to meet the demands of our customers for total wellness solutions. Our strategy is to offer a broad selection of the highest quality organic and natural merchandise available supported by a high degree of customer service not found at other big box retailers within our industry.