Charles J. Schmaderer, AMCON's Chief Financial Officer said, "Sales for the fiscal quarter ended June 30, 2024 were $717.9 million and the Company ended the fiscal period with total shareholders' equity of approximately $110.0 million. We continue to maintain a strong liquidity position and recent amendments to our bank credit facilities provided additional flexibility to pursue our strategic objectives that materialized during the quarter." Mr. Schmaderer also added, "We continue to invest in the final com ...

Zacks Investment Research has recently initiated coverage of AMCON Distributing Company (DIT) with a Neutral recommendation. This report highlights key aspects of AMCON's operations, financial performance, strategic initiatives and challenges, providing valuable insights for potential investors. AMCON operates one of the largest wholesale distribution networks in the United States, serving approximately 7,000 retail outlets. Its extensive product portfolio includes over 20,000 consumer products, ranging fro ...

Exhibit 99.1 AMCON DISTRIBUTING COMPANY REPORTS RESULTS FOR THE QUARTER ENDED MARCH 31, 2024 NEWS RELEASE Omaha, NE, April 18, 2024 - AMCON Distributing Company ("AMCON" or "the Company") (NYSE American: DIT), an Omaha, Nebraska based Convenience and Foodservice Distributor, is pleased to announce fully diluted earnings per share of $0.89 on net income available to common shareholders of $0.5 million for its second fiscal quarter ended March 31, 2024. "Labor shortages, supply chain issues, inflation, volati ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ⌧ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to _________ (Exact name of registrant as specified in its charter) | Delaware | 47-0702918 | | --- | --- | | (State or other jurisdiction | ...

OMAHA, Neb.--(BUSINESS WIRE)--AMCON Distributing Company (“AMCON”) (NYSE American: DIT), an Omaha, Nebraska-based consumer products company is pleased to announce the acquisition of Burklund Distributors, Inc. (“Burklund”), of East Peoria, Illinois. “ We are honored that Jon Burklund and Rob Hackett have chosen AMCON to continue the legacy and stewardship of this third-generation family held business that was established by Edwin Burklund in 1939, and grown by Dale Burklund,” said Christopher H. Atayan, AM ...

OMAHA, Neb.--(BUSINESS WIRE)--AMCON Distributing Company (“AMCON”) (NYSE American: DIT), an Omaha, Nebraska-based Convenience and Foodservice Distributor is pleased to announce it has acquired a new distribution facility located in Colorado City, Colorado. “ This strategic move represents a significant expansion of our operations and underscores AMCON’s commitment to enhanced service for our customers in the Rocky Mountain, Intermountain and Southwest regions of the United States. We are making meaningful ...

PART I — FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the three months ended December 31, 2023, including balance sheets, statements of operations, shareholders' equity, cash flows, and detailed accounting notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets slightly decreased to $362.4 million by December 31, 2023, while shareholders' equity increased to $106.9 million, primarily due to retained earnings Condensed Consolidated Balance Sheet Highlights (in millions) | Account | Dec 31, 2023 | Sep 30, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $243.4 | $245.7 | | **Total Assets** | $362.4 | $363.4 | | **Total Current Liabilities** | $72.8 | $76.6 | | **Total Liabilities** | $255.5 | $259.3 | | **Total Shareholders' Equity** | $106.9 | $104.2 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Unaudited%20Statements%20of%20Operations) Q1 2024 sales increased 14.0% year-over-year, but operating income declined 30.7% to $3.8 million, and net income fell 59.3% to $1.1 million, resulting in diluted EPS of $1.78 Q1 2024 vs Q1 2023 Statement of Operations (in millions, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Sales** | $645.0 | $566.0 | | **Gross Profit** | $43.3 | $35.0 | | **Operating Income** | $3.8 | $5.5 | | **Net Income** | $1.1 | $2.6 | | **Diluted EPS** | $1.78 | $4.46 | [Condensed Consolidated Statements of Shareholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Unaudited%20Statements%20of%20Shareholders'%20Equity) Shareholders' equity increased to $106.9 million by December 31, 2023, driven by net income and equity-based compensation, partially offset by dividends - Shareholders' equity grew to **$106.9 million** at the end of Q1 2024, supported by net income and stock compensation, despite dividend payments[16](index=16&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Unaudited%20Statements%20of%20Cash%20Flows) Q1 2024 operating cash flow improved to $5.0 million, while investing activities used $3.8 million and financing activities used $1.0 million, a shift from prior year's financing inflow Q1 2024 vs Q1 2023 Cash Flow Summary (in millions) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Operating Activities** | $5.0 | $(48.5) | | **Investing Activities** | $(3.8) | $(1.4) | | **Financing Activities** | $(1.0) | $49.9 | | **Net Change in Cash** | $0.2 | $0.02 | [Notes to Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Unaudited%20Financial%20Statements) Notes detail the company's Wholesale and Retail segments, accounting policies, debt structure, and segment performance, including the adoption of ASU 2016-13 with no material impact - The company operates two segments: a **Wholesale Segment**, ranked as the **6th largest convenience store distributor** in the U.S., and a **Retail Segment** with **15 health food stores**[21](index=21&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk) - On October 1, 2023, the company adopted ASU 2016-13 regarding credit losses, which did not have a **material effect** on the consolidated financial statements[30](index=30&type=chunk) Q1 2024 Segment Performance (in millions) | Segment | External Revenue | Operating Income (Loss) | | :--- | :--- | :--- | | **Wholesale** | $634.3 | $7.0 | | **Retail** | $10.7 | $(0.02) | - The company has a combined borrowing capacity of **$300.0 million** under its credit facilities. As of December 2023, **$140.1 million** was outstanding, with **$88.5 million** available[45](index=45&type=chunk)[47](index=47&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A discusses Q1 2024 financial results, noting a 14.0% sales increase driven by the Henry's acquisition, but significant declines in operating and net income due to increased expenses and interest costs - The business is impacted by macroeconomic factors like inflation and supply chain disruptions, which have decreased consumer discretionary spending and increased operating costs[62](index=62&type=chunk) - The company is monitoring potential FDA regulations that could prohibit or limit the sale of certain tobacco products, such as menthol cigarettes, which may negatively impact future revenues[63](index=63&type=chunk) Consolidated Results Summary: Q1 2024 vs Q1 2023 | Metric | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | **Sales** | $645.0M | $566.0M | 14.0% | | **Gross Profit** | $43.3M | $35.0M | 23.8% | | **Operating Income** | $3.8M | $5.5M | (30.7)% | | **Net Income** | $1.1M | $2.6M | (59.3)% | [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Q1 2024 Wholesale sales grew 14.1% to $634.3 million, driven by acquisition and price increases, while retail sales rose 4.2%; gross profit margin improved, but operating expenses increased, leading to lower net income - Wholesale segment sales increased by **$78.5 million**, driven by the Henry's acquisition (**$78.7 million**) and cigarette manufacturer price increases (**$26.3 million**), partially offset by a **$31.5 million** decrease from lower cigarette carton volume[84](index=84&type=chunk) - Retail segment sales increased by **$0.4 million** due to a reopened store and higher sales at existing locations, which was partially offset by the closure of four stores[84](index=84&type=chunk) - Operating expenses increased by **$10.0 million**, with the acquisition of Henry's accounting for **$7.8 million** of the increase[87](index=87&type=chunk) - Interest expense rose by **$0.6 million** due to higher interest rates and increased debt balances related to the Henry's acquisition[90](index=90&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is primarily from $300 million in credit facilities, with $88.5 million available as of December 2023 at an average interest rate of 7.17%, sensitive to working capital and interest rate risks - The company finances operations through three main credit facilities with a total borrowing capacity of **$300.0 million**[94](index=94&type=chunk)[95](index=95&type=chunk) - At December 2023, available liquidity under the facilities was **$88.5 million**, with an average interest rate of **7.17%**[96](index=96&type=chunk)[97](index=97&type=chunk) - During Q1 2024, the company declared a special dividend of **$0.28 per share**, totaling approximately **$0.2 million**, which was paid in Q2 2024[101](index=101&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable for the current reporting period - Not applicable[106](index=106&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of December 31, 2023, with no material changes to internal controls over financial reporting, aside from Henry's acquisition integration - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were **effective** as of December 31, 2023[108](index=108&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting, other than the ongoing implementation of controls for the acquired Henry's business[112](index=112&type=chunk) PART II — OTHER INFORMATION [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) No legal proceedings were reported during the period - None[114](index=114&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors were reported since the last annual report on Form 10-K - No material changes to the Company's risk factors were reported since the last annual report on Form 10-K[115](index=115&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Unregistered equity securities were issued to management for awards, exempt under Section 4(a)(2) of the Securities Act of 1933 - Unregistered securities were issued to management during the quarter related to equity awards, exempt from registration under the Securities Act of 1933[116](index=116&type=chunk) [Other Information](index=38&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter - No directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" during the three months ended December 31, 2023[119](index=119&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with Form 10-Q, including CEO and CFO certifications and the Interactive Data File - The report includes CEO and CFO certifications under Sections 302 and 906 of the Sarbanes-Oxley Act as exhibits[120](index=120&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, $0.01 Par Value DIT NYSE American S ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ⌧ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to _________ Commission File Number 1-15589 (Exact name of registrant as specified in its charter) | Delaware | 47-0702918 | | --- | --- | | ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ⌧ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to _________ Commission File Number 1-15589 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by ...