AMCON Distributing Co. Files Q1 2025 10-Q

TL;DR

AMCON's Q1 2025 10-Q is in. Financials look steady.

AI Summary

AMCON Distributing Co. filed its 10-Q for the period ending December 31, 2024. The filing details financial performance and operational updates for the company, which operates in the wholesale groceries and general line sector. Specific financial figures and changes in equity accounts are presented for the quarter and year-to-date periods.

Why It Matters

This filing provides investors and analysts with a quarterly update on AMCON's financial health and operational performance, crucial for understanding the company's trajectory in the wholesale distribution market.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events indicated.

Key Numbers

• 200000 — Additional Paid-In Capital (As of December 31, 2024)
• 15100 — Common Stock (As of December 31, 2024)
• 100000 — Treasury Stock (As of December 31, 2024)

Key Players & Entities

• AMCON DISTRIBUTING CO (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of the reporting period
• 2025-01-21 (date) — Filing date
• 0000928465 (company) — Central Index Key for AMCON DISTRIBUTING CO

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 Par Value DIT NYSE American Indic

Filing Documents

• dit-20241231x10q.htm (10-Q) — 1058KB
• dit-20241231xex10d1.htm (EX-10.1) — 44KB
• dit-20241231xex10d2.htm (EX-10.2) — 946KB
• dit-20241231xex31d1.htm (EX-31.1) — 13KB
• dit-20241231xex31d2.htm (EX-31.2) — 13KB
• dit-20241231xex32d1.htm (EX-32.1) — 7KB
• dit-20241231xex32d2.htm (EX-32.2) — 7KB
• dit-20241231x10q002.jpg (GRAPHIC) — 27KB
• 0001558370-25-000284.txt ( ) — 6239KB
• dit-20241231.xsd (EX-101.SCH) — 36KB
• dit-20241231_cal.xml (EX-101.CAL) — 43KB
• dit-20241231_def.xml (EX-101.DEF) — 130KB
• dit-20241231_lab.xml (EX-101.LAB) — 329KB
• dit-20241231_pre.xml (EX-101.PRE) — 241KB
• dit-20241231x10q_htm.xml (XML) — 822KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements : Condensed consolidated balance sheets at December 31, 2024 (unaudited) and September 30, 202 4 3 Condensed consolidated unaudited statements of operations for the three months ended December 31, 2024 and 2023 4 Condensed consolidated unaudited statements of shareholders' equity for the three months ended December 31, 2024 and 2023 5 Condensed consolidated unaudited statements of cash flows for the three months ended December 31, 2024 and 2023 6 Notes to condensed consolidated unaudited financial statements 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 22

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 24

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 25 2 Table of Contents

— FINANCIAL INFORMATIO N

PART I — FINANCIAL INFORMATIO N

Financial Statement s

Item 1. Financial Statement s AMCON Distributing Company and Subsidiaries Condensed Consolidated Balance Sheets December 31, 2024 and September 30, 2024 December September 2024 2024 (Unaudited) ASSETS Current assets: Cash $ 535,862 $ 672,788 Accounts receivable, less allowance for credit losses of $ 2.4 million at December 2024 and $ 2.3 million at September 2024 70,590,733 70,653,907 Inventories, net 174,523,527 144,254,843 Income taxes receivable 396,222 718,645 Prepaid expenses and other current assets 12,096,904 12,765,088 Total current assets 258,143,248 229,065,271 Property and equipment, net 106,745,867 106,049,061 Operating lease right-of-use assets, net 26,246,028 25,514,731 Goodwill 5,778,325 5,778,325 Other intangible assets, net 4,612,808 4,747,234 Other assets 3,142,994 2,952,688 Total assets $ 404,669,270 $ 374,107,310 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 47,342,697 $ 54,498,225 Accrued expenses 14,947,716 15,802,727 Accrued wages, salaries and bonuses 3,256,748 8,989,355 Current operating lease liabilities 7,337,464 7,036,751 Current maturities of long-term debt 5,248,488 5,202,443 Current mandatorily redeemable non-controlling interest 1,757,237 1,703,604 Total current liabilities 79,890,350 93,233,105 Credit facilities 165,900,612 121,272,004 Deferred income tax liability, net 4,443,893 4,374,316 Long-term operating lease liabilities 19,203,592 18,770,001 Long-term debt, less current maturities 15,176,659 16,562,908 Mandatorily redeemable non-controlling interest, less current portion 6,649,075 6,507,896 Other long-term liabilities 985,936 1,657,295 Shareholders' equity: Preferred stock, $ .01 par value, 1,000,000 shares authorized — — Common stock, $ .01 par value, 3,000,000 shares authorized, 645,462 shares outstanding at December 2024 and 630,362 s

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS The Company's fiscal year ends on September 30 th . The results for the interim period included with this Quarterly Report may not be indicative of the results which could be expected for the entire fiscal year. All significant intercompany transactions and balances have been eliminated in consolidation. Certain information and footnote disclosures normally included in our annual financial statements prepared in accordance with generally accepted accounting principles ("GAAP") have been condensed or omitted. In the opinion of management, the accompanying condensed consolidated unaudited financial statements ("financial statements") contain all adjustments necessary to fairly present the financial information included herein. The Company believes that although the disclosures contained herein are adequate to prevent the information presented from being misleading, these financial statements should be read in conjunction with the Company's annual audited consolidated financial statements for the fiscal year ended September 30, 2024, as filed with the Securities and Exchange Commission on Form 10-K. For purposes of this report, unless the context indicates otherwise, all references to "we", "us", "our", the "Company", and "AMCON" shall mean AMCON Distributing Company and its consolidated subsidiaries. Additionally, the three-month fiscal periods ended December 31, 2024 and December 31, 2023 have been referred to throughout this Quarterly Report as Q1 2025 and Q1 2024, respectively. The fiscal balance sheet dates as of December 31, 2024 and September 30, 2024 have been referred to as December 2024 and September 2024, respectively. ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures", which improves reportable segment disclosure require

View Full Filing

View this 10-Q filing on SEC EDGAR