AMCON Distributing Co. - DIT STOCK NEWS

AMCON Distributing Company (NYSE American: DIT) reported net income of $2.1 million, translating to fully diluted earnings per share of $3.49 for the second fiscal quarter ending March 31, 2023. The wholesale distribution segment achieved revenues of $573.6 million with an operating income of $8.9 million, while the retail health food segment generated revenues of $11.3 million and operating income of $0.2 million. Chairman Christopher H. Atayan highlighted the company’s commitment to customer service despite challenging weather conditions. Furthermore, President Andrew C. Plummer indicated that AMCON is integrating its recent acquisition of Henry’s Foods to expand its foodservice capabilities. The company maintains strong liquidity, closing the quarter with $97.1 million in consolidated shareholders’ equity.

AMCON Distributing Company (DIT) has successfully completed its acquisition of Henry's Foods, Inc., a foodservice expert based in Alexandria, Minnesota. This acquisition is expected to enhance AMCON's service offerings and align with its strategic objectives.

Henry's brings significant expertise in foodservice, which will integrate across AMCON's existing operations, expanding their suite of services. The leadership at both companies expressed optimism about the benefits to their customer base.

AMCON services around 6,800 locations across multiple states and operates 18 retail stores through its Healthy Edge Retail Group.

AMCON Distributing Company (NYSE American: DIT) declared a quarterly cash dividend of $0.18 per common share. The dividend is payable on February 16, 2023 to shareholders of record as of February 3, 2023. AMCON, based in Omaha, Nebraska, is a leading distributor servicing approximately 5,400 retail stores across multiple states, including Illinois, Missouri, and Tennessee. The company's offerings include beverages, groceries, and health products, with a focus on maintaining sufficient cash resources for operations and capital needs.

AMCON Distributing Company (NYSE American: DIT) reported a fully diluted earnings per share of $4.46 and a net income of $2.6 million for Q1 fiscal 2023, ending December 31, 2022. The wholesale distribution segment generated $555.7 million in revenues with an operating income of $8.2 million, while the retail health food segment posted revenues of $10.3 million but faced an operating loss of $0.3 million. The company emphasizes customer service and is pursuing acquisition opportunities in the convenience distribution sector. As of the end of the quarter, AMCON maintained $94.7 million in consolidated shareholders’ equity.

AMCON Distributing Company (NYSE American: DIT) announced a special cash dividend of $5.00 per common share. This dividend will be payable on January 13, 2023, to shareholders of record as of January 3, 2023. AMCON is a leading distributor of consumer products, operating in several states and also running a chain of health and natural product retail stores through its subsidiary, Healthy Edge Retail Group. The company emphasizes its commitment to meeting future capital needs and warns about potential risks affecting its financial performance.

AMCON Distributing Company (DIT) announced the acquisition of Henry's Foods, Inc., located in Alexandria, Minnesota. This transaction will allow Henry's to operate as a wholly-owned subsidiary, led by President Kellie Janssen. AMCON aims to expand its offerings in the convenience distribution industry by leveraging Henry's expertise in high-quality foodservice. The deal is anticipated to close in the second quarter of fiscal 2023, subject to customary conditions.

AMCON Distributing Company (DIT) reported a fully diluted EPS of $28.59 and net income of $16.7 million for fiscal year ending September 30, 2022. The wholesale distribution segment achieved revenues of $2.0 billion with operating income at $35.6 million, while the retail health food segment generated $46.2 million in revenue. AMCON is investing in foodservice and technology and developing a new 173,500 square foot facility in Springfield, Missouri. Shareholders' equity stood at $92.8 million with a strong inventory turnover rate of 19 times.

AMCON Distributing Company (DIT) declared a quarterly cash dividend of $0.18 per common share. This dividend is payable on November 30, 2022, for shareholders of record as of November 7, 2022. Based in Omaha, Nebraska, AMCON is a significant distributor of consumer products, including beverages, groceries, and health care items, operating across several states. The company also runs a retail group with 19 health and natural product stores in the Midwest and Florida.

AMCON Distributing Company (NYSE American: DIT) announced a quarterly cash dividend of $0.18 per common share. This dividend will be payable on August 29, 2022, to shareholders of record as of August 5, 2022. Based in Omaha, Nebraska, AMCON is a major distributor of consumer products such as beverages, tobacco, and health goods, operating across several states including Illinois and Missouri. The company also runs retail stores under the Akin’s Natural Foods and Chamberlin's Natural Foods brands.