$DIT

AMCON DISTRIBUTING CO

CIK:0000928465|SEC Filings

Condensed Consolidated Unaudited Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Condensed Consolidated Unaudited Statements of Operations
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 before gain on real estate	45,351,834	44,751,361	133,331,186	130,540,573
(Gain) on sales of real estate	1,796,723		1,796,723
Operating expenses	43,555,111	44,751,361	131,534,463	130,540,573
Operating income (loss)	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)
Total other expenses (income)	2,547,743	2,754,991	7,669,434	8,167,757
Income (loss) from operations before income taxes	3,701,566	2,108,547	2,138,049	828,006
Income tax expense (benefit)	1,015,000	790,000	833,000	751,000
Net income (loss) 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	$ 1.4	$ 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

Condensed Consolidated Unaudited Statements of Cash Flows - USD ($)	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) available to common shareholders	$ 1,305,049	$ 77,006
Adjustments to reconcile net income (loss) 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) loss 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
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
Arrowrock Supply
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition		(6,131,527)
Burklund
Adjustments to reconcile net income (loss) available to common shareholders to net cash flows from (used in) operating activities:
Change in fair value of contingent consideration		$ 1,500,000

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Sep. 30, 2025
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
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