AMCON Distributing Company, an Omaha, Nebraska-based consumer products company, announced fully diluted earnings per share of $5.19 on net income available to common shareholders of $3.0 million for its second fiscal quarter ending March 31, 2022.
“We are pleased with our results for the second fiscal quarter,” said Christopher H. Atayan, AMCON’s chairman and chief executive officer. “Our management team has remained highly focused on delivering a consistently superior level of customer service in a highly challenging operating environment. AMCON continues to seek out acquisition opportunities for distributors who want to align with our growing platform and customer centric management philosophy.”
The wholesale distribution segment reported revenues of $379.5 million and operating income of $6.3 million for the second quarter of fiscal 2022. The retail health food segment reported revenues of $12.4 million and operating income of $0.7 million for the second quarter of fiscal 2022.
“Ongoing supply chain disruptions with the consumer packaged goods companies we partner with have impacted product availability across all markets, including the convenience distribution industry in which our company operates,” said Andrew C. Plummer, AMCON’s president and chief operating officer. “The United States continues to experience an acute workforce shortage, which we work diligently to address in our daily operations. Our Annual Spring Trade Show was well received and provides momentum as we enter our summer season. AMCON’s customer base continues to grow geographically and we are deploying the capital and human resources necessary to support this growth in a collaborative fashion. We are actively searching for facilities in, and adjacent to, the geographic markets we serve.”
Charles J. Schmaderer, AMCON’s chief financial officer, added, “We are pleased with the ongoing progress of our strategic investment in Team Sledd, LLC. As a core operating principle we continue to maintain consistently high levels of liquidity to support the company’s various strategic initiatives and long-term growth plan. We ended the quarter with $82.0 million of shareholders’ equity.”