OMAHA, Neb.--(BUSINESS WIRE)--January 18, 2023--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 $4.46 on net income available to common shareholders of $2.6 million for its first fiscal quarter ended December 31, 2022.

“AMCON has a strategic focus on Customer Service and this long-held approach enables our leadership in the Convenience Distribution industry,” 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 foodservice distributors who want to align with the Company’s growing platform and customer centric management philosophy.”

The wholesale distribution segment reported revenues of $555.7 million and operating income of $8.2 million for the first quarter of fiscal 2023. The retail health food segment reported revenues of $10.3 million and an operating loss of $0.3 million for the first quarter of fiscal 2023.

“We are proud of the extra efforts our team made to ensure timely delivery to our customers during the severe weather we encountered during the quarter,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer. Mr. Plummer further noted, “We are investing heavily in our foodservice and technology platforms and associated staffing for these strategic focus areas. Our customer base is growing, and we continue to search for facilities in, and adjacent to, the geographic markets we serve.”

“We are actively managing our working capital position to take advantage of strategic opportunities in the marketplace,” said Charles J. Schmaderer, AMCON’s Chief Financial Officer. Mr. Schmaderer further noted, “As a core operating principle, we maintain high levels of liquidity and ended the quarter with $94.7 million of consolidated shareholders’ equity.”

AMCON is a leading convenience distributor of consumer products, including beverages, candy, tobacco, groceries, foodservice, frozen and refrigerated foods, automotive supplies and health and beauty care products servicing approximately 5,400 retail stores through distribution centers in Illinois, Missouri, Nebraska, North Dakota, South Dakota, Tennessee and West Virginia. AMCON, through its Healthy Edge Retail Group, also operates nineteen (19) health and natural product retail stores in the Midwest and Florida.