AMCON Distributing Co. Files 2024 Annual Report

TL;DR

AMCON DISTRIBUTING CO FILED ITS 2024 10-K. CHECK FINANCIALS.

AI Summary

AMCON Distributing Co. filed its 10-K for the fiscal year ending September 30, 2024. The company, headquartered in Omaha, NE, operates in the wholesale groceries and general line sector. Key financial data and operational details for the fiscal year are presented in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of AMCON's financial performance and business operations for the past fiscal year, crucial for assessing the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual report filing with no immediate red flags or significant negative disclosures.

Key Numbers

• 2024-09-30 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2024-11-08 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• AMCON DISTRIBUTING CO (company) — Filer of the 10-K
• 0930 (date) — Fiscal year end date
• 2024 (date) — Fiscal year
• Omaha, NE (location) — Company headquarters and mailing address
• 5141 (number) — Standard Industrial Classification code for Wholesale-Groceries & General Line

FAQ

Key Financial Figures

• $0.01 — nge on Which Registered Common Stock, $0.01 Par Value DIT NYSE American Secur
• $184.00 — 28,141,512 computed by reference to the $184.00 closing price of such common stock equi

Filing Documents

• dit-20240930x10k.htm (10-K) — 1858KB
• dit-20240930xex4d3.htm (EX-4.3) — 31KB
• dit-20240930xex19d1.htm (EX-19.1) — 124KB
• dit-20240930xex21d1.htm (EX-21.1) — 26KB
• dit-20240930xex31d1.htm (EX-31.1) — 13KB
• dit-20240930xex31d2.htm (EX-31.2) — 13KB
• dit-20240930xex32d1.htm (EX-32.1) — 6KB
• dit-20240930xex32d2.htm (EX-32.2) — 6KB
• dit-20240930x10k002.jpg (GRAPHIC) — 7KB
• 0001558370-24-015063.txt ( ) — 9695KB
• dit-20240930.xsd (EX-101.SCH) — 63KB
• dit-20240930_cal.xml (EX-101.CAL) — 87KB
• dit-20240930_def.xml (EX-101.DEF) — 241KB
• dit-20240930_lab.xml (EX-101.LAB) — 583KB
• dit-20240930_pre.xml (EX-101.PRE) — 441KB
• dit-20240930x10k_htm.xml (XML) — 1811KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 16 Item 1C. Cybersecurity 17 Item 2.

Properties

Properties 17 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 18 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6. [Reserved] 19 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 32 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 59 Item 9A.

Controls and Procedures

Controls and Procedures 59 Item 9B. Other Information 60 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 60 PART III Item 10. Directors, Executive Officers, and Corporate Governance 61 Item 11.

Executive Compensation

Executive Compensation 61 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 61 Item 13. Certain Relationships and Related Transactions, and Director Independence 61 Item 14. Principal Accountant Fees and Services 61 PART IV Item 15. Exhibits and Financial Statement Schedules 62 Item 16. Form 10-K Summary 64 2 Table of Contents PART I For purposes of this report, unless the context indicates otherwise, all references to "we," "us," "our," "Company," and "AMCON" shall mean AMCON Distributing Company and its subsidiaries. The Company's 2024 and 2023 fiscal years ended September 30, are herein referred to as fiscal 2024 and fiscal 2023, respectively. The fiscal year-end balance sheet dates of September 30, 2024 and September 30, 2023 are referred to herein as September 2024 and September 2023, respectively. This report and the documents incorporated by reference herein, if any, contain forward-looking statements, which are inherently subject to risks and uncertainties. See "Forward-Looking Statements" under Item 7 of this report.

BUSINES S

ITEM 1. BUSINES S COMPANY OVERVIEW AMCON Distributing Company was incorporated in Delaware in 1986 and our common stock is listed on NYSE American under the symbol "DIT." The Company serves customers in 33 states through two business segments: Our wholesale distribution segment (the "Wholesale Segment"), which includes our Team Sledd, LLC ("Team Sledd") and Henry's Foods, Inc. ("Henry's") subsidiaries, distributes consumer products and provides a full range of programs and services to our customers that are focused on helping them manage their business and increase their profitability. We serve customers primarily in the Central, Rocky Mountain, Great Lakes, Mid-South and Mid-Atlantic regions of the United States. Our retail health food segment (the "Retail Segment") operates 15 health food retail stores located throughout the Midwest and Florida. WHOLESALE SEGMENT Our Wholesale Segment is one of the largest wholesale distributors in the United States serving approximately 7,900 retail outlets including convenience stores, grocery stores, liquor stores, drug stores, and tobacco shops. We currently distribute over 20,000 different consumer products, including cigarettes and tobacco products, candy and other confectionery products, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products and institutional foodservice products. We have licenses, and operate, in 33 states, are the third (3 rd ) largest convenience store distributor by geographic territory served, and in December 2023, Convenience Store News ranked us as the sixth (6th) largest convenience store distributor in the United States based on annual sales. Our Wholesale Segment offers retailers the ability to take advantage of manufacturer- and Company-sponsored sales and marketing programs, merchandising and product category management services, and the use of information systems and data services that are focused on minimizing retailers' investment i

RIS K FACTORS

ITEM 1A. RIS K FACTORS IN GENERAL You should carefully consider the risks described below before making an investment decision concerning our securities. If any of the following risks actually materialize, our business, financial condition or results of operations could be materially adversely affected. In that case, the trading price of our common stock could decline substantially. This Annual Report also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including the risks described below and elsewhere in this Annual Report. See "Forward-Looking Statements" under Item 7 of this report for a discussion of forward-looking statements. RISK FACTORS RELATED TO THE WHOLESALE BUSINESS Regulation of Cigarette, Tobacco and Tobacco-Related Products by the FDA May Negatively Impact Our Operations. In 2009, the Family Smoking Prevention and Tobacco Control Act was signed into law, which granted the FDA the authority to regulate the production, distribution, and marketing of tobacco products in the United States. Specifically, the legislation established an FDA office to regulate changes to nicotine yields, chemicals, flavors, ingredients, and the labeling used to produce and market tobacco products. The FDA office is financed through user fees paid by tobacco companies, which is passed on to wholesale distributors and end consumers in the form of higher costs. To date, most of the regulatory and compliance burden related to this legislation has fallen upon product manufacturers. However, if the FDA were to impose new regulations impacting wholesale distributors that we are not able to comply with, we could face remedial actions such as fines, suspension of product distribution rights, and/or termination of operations. Further, if the FDA were to issue product bans or product restrictions on cigarettes, tobac

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View this 10-K filing on SEC EDGAR