Quarterly Performance Report AMCON Distributing Company’s Results for March 31, 2024

AMCON Distributing Company (NYSE American: DIT), headquartered in Omaha, Nebraska, a key player in the Convenience and Foodservice Distribution sector, is pleased to announce its financial performance for the second fiscal quarter ending March 31, 2024. The company reported fully diluted earnings per share of $0.89, with net income available to common shareholders reaching $0.5 million.

Christopher H. Atayan, Chairman and Chief Executive Officer of AMCON, acknowledged the ongoing challenges posed by labor shortages, supply chain disruptions, inflation, energy price fluctuations, and rising interest rates. However, he highlighted the company’s customer-centric approach as a competitive advantage, emphasizing its commitment to ensuring a seamless flow of goods and services to customers.

Atayan also expressed enthusiasm for the recent acquisition of Burklund Distributors, Inc., welcoming new team members and customers into the AMCON fold. He reiterated the company’s dedication to pursuing strategic acquisitions in both the Convenience Distributor and Foodservice sectors.

Andrew C. Plummer, President and Chief Operating Officer, underscored the company’s focus on foodservice, technology platforms, and associated staffing, as well as its efforts to expand its geographic reach to better serve growing customer needs.

Charles J. Schmaderer, Chief Financial Officer, highlighted AMCON’s strong financial position, with shareholders’ equity standing at $108.0 million as of March 31, 2024. He noted recent amendments to the company’s bank credit facilities, providing increased flexibility to pursue strategic objectives.

Schmaderer also outlined ongoing investments, including the completion of a 175,000 square foot distribution facility in Springfield, Missouri, and enhancements to foodservice capabilities at a recently acquired 250,000 square foot facility in Colorado City, Colorado.

AMCON, along with its subsidiaries Team Sledd, LLC and Henry’s Foods, Inc., operates twelve distribution centers across multiple states, offering a wide range of consumer products. Additionally, through its Healthy Edge Retail Group, the company manages fourteen health and natural product retail stores in the Midwest and Florida.

The release concludes with a disclaimer acknowledging forward-looking statements contained within, subject to risks and uncertainties. The company advises that past financial performance may not be indicative of future results, seeking protection under the safe harbor for forward-looking statements outlined in the Private Securities Litigation Reform Act of 1995.

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