# EDGAR Filing Document

**Accession Number:** 0000928465
**File Stem:** 0001104659-25-108499
**Filing Date:** 2025-11
**Character Count:** 18944
**Document Hash:** 73a1ad87c1038c60504d08515690f54e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-108499.hdr.sgml**: 20251107

**ACCESSION NUMBER**: 0001104659-25-108499

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251107

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251107

**DATE AS OF CHANGE**: 20251107

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMCON DISTRIBUTING CO
- **CENTRAL INDEX KEY:** 0000928465
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-GROCERIES & GENERAL LINE [5141]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 470702918
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-15589
- **FILM NUMBER:** 251462879

**BUSINESS ADDRESS:**
- **STREET 1:** 7405 IRVINGTON ROAD
- **STREET 2:** POST OFFICE BOX 641940 (68164-7940)
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68122
- **BUSINESS PHONE:** 4023313727

**MAIL ADDRESS:**
- **STREET 1:** 7405 IRVINGTON ROAD
- **STREET 2:** POST OFFICE BOX 641940 (68164-7940)
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68122

?xml version='1.0' encoding='ASCII'?

**UNITED** **STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Act of 1934**

Date of Report (Date of earliest event reported) **November 7, 2025**

**<u>AMCON DISTRIBUTING COMPANY</u>**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **1-15589** | **47-0702918** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |

---

&nbsp;&nbsp;**7405 Irvington Road, Omaha NE 68122**

(Address of principal executive offices) (Zip Code)

&nbsp;&nbsp;Registrant's telephone number, including area code: **402-331-3727**

&nbsp;&nbsp;**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFO 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Title of each class | &nbsp;&nbsp;Trading Symbol(s) | &nbsp;&nbsp;Name of each exchange on which registered |
| &nbsp;&nbsp;Common Stock, $0.01 par value | &nbsp;&nbsp;DIT | &nbsp;&nbsp;NYSE American |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **ITEM 2.02** | **RESULTS OF OPERATIONS AND FINANCIAL CONDITION.** |

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On November 7, 2025, the Company issued a press release announcing financial results for its fiscal year ended September 30, 2025. A copy of the press release is attached to this report as an exhibit.

The information in this report (including the exhibit) shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information set forth in this report (including the exhibit) shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

---

| | |
|:---|:---|
| **ITEM 9.01** | **FINANCIAL STATEMENTS AND EXHIBITS** |

---

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| | |
|:---|:---|
| **<u>EXHIBIT NO.</u>** | **<u>DESCRIPTION</u>** |
| [99.1](tm2530478d1_ex99-1.htm) | [Press release, dated November 7, 2025, issued by AMCON Distributing Company announcing financial results for its fiscal year ended September 30, 2025.](tm2530478d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | <u>AMCON DISTRIBUTING COMPANY</u> | <u>AMCON DISTRIBUTING COMPANY</u> |
|  | (Registrant) | (Registrant) |
| Date: November 7, 2025 |  | /s/ Charles J. Schmaderer |
|  | Name: | Charles J. Schmaderer |
|  | Title: | Vice President, Chief Financial Officer and Secretary |

---

## Exhibit 99.1

**Exhibit 99.1**

![](tm2530478d1_ex99-1img01.jpg)

**AMCON DISTRIBUTING COMPANY REPORTS RESULTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025**

NEWS RELEASE

Omaha, NE, November 7, 2025 - 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 $0.92 on net income available to common shareholders of $0.6 million for the fiscal year ended September 30, 2025.

"We believe AMCON's long term strategy of providing superior customer service, a wide range of foodservice programs, and leading-edge technology solutions combined with the third largest Convenience Distribution footprint in the United States positions our organization well in the years ahead," said Christopher H. Atayan, AMCON's Chairman and Chief Executive Officer. He further noted, "We continue to actively seek strategic acquisition opportunities for operators who want to align with our customer focused approach philosophy and further the legacy of their enterprises."

The wholesale distribution segment reported revenues of $2.8 billion and operating income of $23.0 million for fiscal 2025 and the retail health food segment reported revenues of $44.5 million and operating income of $0.1 million for fiscal 2025.

"AMCON's proprietary technology suite of services, combined with our integrated state of the art advertising, design, print and electronic display programs are designed to provide our customers a competitive edge," said Andrew C. Plummer, AMCON's President and Chief Operating Officer. Mr. Plummer continued, "Our management team works closely to create unique solutions as we deploy these capabilities across our entire organization."

"We engage in a relentless daily focus on managing the Company's balance sheet and maximizing our liquidity position. At September 30, 2025, our shareholders' equity was $113.1 million," said Charles J. Schmaderer, AMCON's Chief Financial Officer. Mr. Schmaderer also added, "We are presently in the process of integrating our recent acquisitions in order to optimize our customers' growth initiatives in the various regions we serve."

AMCON, and its subsidiaries *Team Sledd, LLC* and *Henry's Foods, Inc.*, is a leading Convenience and Foodservice Distributor of consumer products, including beverages, candy, tobacco, groceries, foodservice, frozen and refrigerated foods, automotive supplies and health and beauty care products serving thirty-four (34) states from fourteen (14) distribution centers in Colorado, Idaho, Illinois, Indiana, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, Tennessee and West Virginia. Through its *Healthy Edge Retail Group*, AMCON operates fifteen (15) health and natural product retail stores in the Midwest and Florida.

*This news release contains forward-looking statements that are subject to risks and uncertainties and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. A number of factors could affect the future results of the Company and could cause those results to differ materially from those expressed in the Company's forward-looking statements including, without limitation, availability of sufficient cash resources to conduct its business and meet its capital expenditures needs and the other factors described under Item 1.A. of the Company's Annual Report on Form 10-K. Moreover, past financial performance should not be considered a reliable indicator of future performance. Accordingly, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements.*

**Visit AMCON Distributing Company's web site at:** **<u>www.amcon.com</u>**

*For Further Information Contact:*

Charles J. Schmaderer

AMCON Distributing Company

Ph 402-331-3727

**AMCON Distributing Company and Subsidiaries**

**CONSOLIDATED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
|  | **September**<br>**2025** | **September**<br>**2024** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $744613 | $672788 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, less allowance for credit losses of $2.4 million at September 2025 and $2.3 million at September 2024 | 73192069 | 70653907 |
| &nbsp;&nbsp;&nbsp;Inventories, net | 153276545 | 144254843 |
| &nbsp;&nbsp;&nbsp;Income taxes receivable | 140986 | 718645 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 12150645 | 12765088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 239504858 | 229065271 |
| Property and equipment, net | 107844655 | 106049061 |
| Operating lease right-of-use assets, net | 30488841 | 25514731 |
| Goodwill | 5778325 | 5778325 |
| Other intangible assets, net | 4240359 | 4747234 |
| Other assets | 3231488 | 2952688 |
| Total assets | $391088526 | $374107310 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $69532355 | $54498225 |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 15459406 | 15802727 |
| &nbsp;&nbsp;&nbsp;Accrued wages, salaries and bonuses | 6745698 | 8989355 |
| &nbsp;&nbsp;&nbsp;Current operating lease liabilities | 7862117 | 7036751 |
| &nbsp;&nbsp;&nbsp;Current maturities of long-term debt | 5471310 | 5202443 |
| &nbsp;&nbsp;&nbsp;Current mandatorily redeemable non-controlling interest | 7020895 | 1703604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 112091781 | 93233105 |
| Credit facilities | 126804775 | 121272004 |
| Deferred income tax liability, net | 4048070 | 4374316 |
| Long-term operating lease liabilities | 22845456 | 18770001 |
| Long-term debt, less current maturities | 11033949 | 16562908 |
| Mandatorily redeemable non-controlling interest, less current portion |  | 6507896 |
| Other long-term liabilities | 1193081 | 1657295 |
| Shareholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock, $.01 par value, 1,000,000 shares authorized |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $.01 par value, 3,000,000 shares authorized, 635,609 shares outstanding at September 2025 and 630,362 shares outstanding at September 2024 | 9799 | 9648 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 36991031 | 34439735 |
| &nbsp;&nbsp;&nbsp;Retained earnings | 108475842 | 108552565 |
| &nbsp;&nbsp;&nbsp;Treasury stock at cost | (32405258) | (31272163) |
| &nbsp;&nbsp;&nbsp;Total shareholders' equity | 113071414 | 111729785 |
| Total liabilities and shareholders' equity | $391088526 | $374107310 |

---

**AMCON Distributing Company and Subsidiaries**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

---

| | | |
|:---|:---|:---|
|  | **Fiscal Years Ended September** | **Fiscal Years Ended September** |
|  | **2025** | **2024** |
| Sales (including excise taxes of $561.9 million and $569.5 million, respectively) | $2816688287 | $2710981108 |
| Cost of sales | 2628458039 | 2528626652 |
| Gross profit | 188230248 | 182354456 |
| Selling, general and administrative expenses | 165839583 | 154878763 |
| Depreciation and amortization | 9835200 | 9495179 |
|  | 175674783 | 164373942 |
| Operating income | 12555465 | 17980514 |
| Other expense (income): |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 10443571 | 10413228 |
| &nbsp;&nbsp;&nbsp;Change in fair value of mandatorily redeemable non-controlling interest | 877409 | 1040968 |
| &nbsp;&nbsp;&nbsp;Other (income), net | (329254) | (936171) |
|  | 10991726 | 10518025 |
| Income from operations before income taxes | 1563739 | 7462489 |
| Income tax expense | 995000 | 3126000 |
| Net income available to common shareholders | $568739 | $4336489 |
| &nbsp;&nbsp;&nbsp;Basic earnings per share available to common shareholders | $0.93 | $7.24 |
| &nbsp;&nbsp;&nbsp;Diluted earnings per share available to common shareholders | $0.92 | $7.15 |
| &nbsp;&nbsp;&nbsp;Basic weighted average shares outstanding | 613188 | 599020 |
| &nbsp;&nbsp;&nbsp;Diluted weighted average shares outstanding | 616486 | 606782 |
| &nbsp;&nbsp;&nbsp;Dividends paid per common share | $1.00 | $1.00 |

---

**AMCON Distributing Company and Subsidiaries**

**CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | **Treasury Stock** | **Treasury Stock** | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Additional**<br>**Paid-in**<br>**Capital** |<br>**Retained**<br>**Earnings** |<br>**Total** |
| Balance, October 1, 2023 | 943272 | $9431 | (334583) | $(31272163) | $30585388 | $104846438 | $104169094 |
| Dividends on common stock, $1.00 per share |  |  |  |  |  | (630362) | (630362) |
| Compensation expense and issuance of stock in connection with equity-based awards | 21673 | 217 |  |  | 3854347 |  | 3854564 |
| Net income available to common shareholders |  |  |  |  |  | 4336489 | 4336489 |
| Balance, September 30, 2024 | 964945 | $9648 | (334583) | $(31272163) | $34439735 | $108552565 | $111729785 |
| Dividends on common stock, $1.00 per share |  |  |  |  |  | (645462) | (645462) |
| Compensation expense and issuance of stock in connection with equity-based awards | 15100 | 151 |  |  | 2551296 |  | 2551447 |
| Repurchase of common stock |  |  | (9853) | (1133095) |  |  | (1133095) |
| Net income available to common shareholders |  |  |  |  |  | 568739 | 568739 |
| Balance, September 30, 2025 | 980045 | $9799 | (344436) | $(32405258) | $36991031 | $108475842 | $113071414 |

---

**AMCON Distributing Company and Subsidiaries**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

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| | | |
|:---|:---|:---|
|  | **September**<br>**2025** | **September**<br>**2024** |
| CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |
| Net income available to common shareholders | $568739 | $4336489 |
| Adjustments to reconcile net income available to common shareholders to net cash flows from (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 9328325 | 8957478 |
| &nbsp;&nbsp;&nbsp;Amortization | 506875 | 537701 |
| &nbsp;&nbsp;&nbsp;(Gain) loss on sales of property and equipment | (90237) | (177467) |
| &nbsp;&nbsp;&nbsp;Equity-based compensation | 2551447 | 2489781 |
| &nbsp;&nbsp;&nbsp;Deferred income taxes | (326246) | (543644) |
| &nbsp;&nbsp;&nbsp;Provision for credit losses | 53549 | (64705) |
| &nbsp;&nbsp;&nbsp;Inventory allowance | (320305) | 62349 |
| &nbsp;&nbsp;&nbsp;Change in fair value of contingent consideration | (1453452) | (124992) |
| &nbsp;&nbsp;&nbsp;Change in fair value of mandatorily redeemable non-controlling interest | 877409 | 1040968 |
| Changes in assets and liabilities, net of effects of business combinations: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable | (2579336) | 5900380 |
| &nbsp;&nbsp;&nbsp;Inventories | (5703098) | 29003285 |
| &nbsp;&nbsp;&nbsp;Prepaid and other current assets | 616232 | 2227044 |
| &nbsp;&nbsp;&nbsp;Other assets | (278800) | (38193) |
| &nbsp;&nbsp;&nbsp;Accounts payable | 16009694 | 11397485 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and accrued wages, salaries and bonuses | (1949997) | 1221322 |
| &nbsp;&nbsp;&nbsp;Other long-term liabilities | 278968 | 511231 |
| &nbsp;&nbsp;&nbsp;Income taxes payable and receivable | 577659 | 1135839 |
| Net cash flows from (used in) operating activities | 18667426 | 67872351 |
| CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of property and equipment | (9003396) | (20429805) |
| &nbsp;&nbsp;&nbsp;Proceeds from sales of property and equipment | 113214 | 416546 |
| &nbsp;&nbsp;&nbsp;Acquisition of Arrowrock Supply | (6131527) |  |
| &nbsp;&nbsp;&nbsp;Acquisition of Burklund |  | (15464397) |
| &nbsp;&nbsp;&nbsp;Acquisition of Richmond Master |  | (6631039) |
| Net cash flows from (used in) investing activities | (15021709) | (42108695) |
| CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;Borrowings under revolving credit facilities | 2588656781 | 2517192464 |
| &nbsp;&nbsp;&nbsp;Repayments under revolving credit facilities | (2583124010) | (2536358449) |
| &nbsp;&nbsp;&nbsp;Principal payments on long-term debt | (5260092) | (3765153) |
| &nbsp;&nbsp;&nbsp;Repurchase of common stock | (1133095) |  |
| &nbsp;&nbsp;&nbsp;Dividends on common stock | (645462) | (630362) |
| &nbsp;&nbsp;&nbsp;Redemption and distributions to non-controlling interest | (2068014) | (2320299) |
| Net cash flows from (used in) financing activities | (3573892) | (25881799) |
| Net change in cash | 71825 | (118143) |
| Cash, beginning of period | 672788 | 790931 |
| Cash, end of period | $744613 | $672788 |
| Supplemental disclosure of cash flow information: |  |  |
| &nbsp;&nbsp;&nbsp;Cash paid during the period for interest, net of amounts capitalized | $10522689 | $9985313 |
| &nbsp;&nbsp;&nbsp;Cash paid during the period for income taxes, net of refunds | 724088 | 2520127 |
| Supplemental disclosure of non-cash information: |  |  |
| &nbsp;&nbsp;&nbsp;Equipment acquisitions classified in accounts payable | $41384 | $1016948 |
| &nbsp;&nbsp;&nbsp;Purchase of property financed with promissory note |  | 8000000 |
| &nbsp;&nbsp;&nbsp;Portion of Burklund acquisition financed with promissory note |  | 3900000 |
| &nbsp;&nbsp;&nbsp;Portion of Burklund acquisition financed with contingent consideration |  | 1578444 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock in connection with the vesting of equity-based awards |  | 1296372 |

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