AMCON Distributing FY 2026: Revenue $3.12B, EPS $2.52 — 10-K Summary

AMCON Distributing’s fiscal 2026 sales increased 10.9% year over year, while net income rose as higher wholesale sales and gross profit, lower interest expense and gains from property sales outweighed increased operating expenses and weaker retail sales and margins.

Financial Highlights

¹ Reported as “Sales (including excise taxes of $ 598.7 million and $ 561.9 million, respectively)”. ² Reported as “Net income available to common shareholders”. ³ Reported as “Diluted earnings per share available to common shareholders”.

Business Highlights

• Wholesale sales: Increased $307.5 million, including growth from cigarette carton volume and mix, manufacturer price increases, and other product categories.
• Wholesale gross profit: Rose $4.7 million; improvements in Other Products and cigarette carton mix were partly offset by timing of manufacturer price increases.
• Retail segment: Sales decreased $0.8 million, primarily due to lower volumes in existing stores; gross profit fell $0.9 million as existing-store sales and margins declined.
• Operating costs: Expenses increased $4.3 million, including higher other wholesale costs and fuel, partly offset by lower employee compensation and insurance costs.
• Facilities: Purchased an Ohio distribution facility for $8.0 million and sold two North Dakota and Illinois facilities for approximately $5.6 million in net proceeds.

Original SEC Filing: AMCON DISTRIBUTING CO [ DIT ] - 10-K - Nov. 09, 2026