AMCON Distributing Company announced fully diluted earnings per share of $7.15 for the fiscal year ended September 30, 2024, a notable decrease from $19.46 in fiscal 2023. Net income available to common shareholders also saw a significant decline, reaching $4.3 million compared to $11.6 million in the prior year.
Despite the drop in profitability, consolidated sales for fiscal 2024 increased by 6.7% to $2.71 billion from $2.54 billion in fiscal 2023. However, operating income decreased by 30.8% to $18.0 million, indicating rising operational costs.
The company reported strong cash flows from operating activities, which increased to $67.9 million from $19.7 million in fiscal 2023. AMCON also highlighted its strategic growth, becoming the third-largest convenience distributor in the U.S. by territory covered, and investing in a new 250,000 square foot distribution facility in Colorado City, Colorado. Dividends paid per common share were $1.00 for fiscal 2024, a significant reduction from $5.72 in fiscal 2023.
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