AMCON Distributing Company Reports Results for the Quarter Ended December 31, 2025
Igår, 22:10
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 $1.28 on net income available to common shareholders of $0.8 million for its first fiscal quarter ended December 31, 2025.
“AMCON’s industry leading suite of programs and services provides the foundational support for our operating philosophy centered on a superior level of customer service. AMCON’s commitment to proprietary foodservice programs and custom curated store level merchandising is a value-added approach to convenience distribution. We now have the capability to offer turn-key solutions that will enable our retail partners the ability to compete head-on with the Quick Service Restaurant industry,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “We continue to actively seek strategic acquisition opportunities for Convenience and Foodservice Distributors, and their families, who want to align with our customer focused approach philosophy and further the legacy of their enterprises.”
“Our customer-centric approach provides extraordinary value to our retail partners in challenging weather conditions as our AMCON teams ensure a consistent and timely flow of goods and services. As we grow, our customer base has demonstrated enthusiasm for our integrated state-of-the-art advertising, design, print and electronic display programs. These marketing tools provide our customers a competitive edge,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer.
For the fiscal quarter ended December 2025, the wholesale distribution segment reported revenues of $719.3 million and operating income of $6.9 million, and the retail health food segment reported revenues of $10.8 million and an operating loss of $0.2 million.
“We continue our relentless daily focus on managing the Company’s balance sheet and maximizing our liquidity position. At December 31, 2025, our shareholders’ equity was $114.1 million,” said Charles J. Schmaderer, AMCON’s Chief Financial Officer. Mr. Schmaderer also added, “Cost structures for Convenience Distributors have been impacted by the cumulative impact of inflation over a multi-year period. These inflationary pressures have resulted in higher operating expenses in areas such as product costs, labor and employee benefits, equipment, and insurance.”
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: www.amcon.com
AMCON Distributing Company and Subsidiaries Condensed Consolidated Balance Sheets December 31, 2025 and September 30, 2025 | ||||||||
December | September | |||||||
2025 | 2025 | |||||||
(Unaudited) | ||||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash | $ | 778,753 | $ | 744,613 | ||||
Accounts receivable, less allowance for credit losses of $2.3 million at December 2025 and $2.4 million at September 2025 | 69,140,693 | 73,192,069 | ||||||
Inventories, net | 144,398,247 | 153,276,545 | ||||||
Income taxes receivable | — | 140,986 | ||||||
Prepaid expenses and other current assets | 15,643,754 | 12,150,645 | ||||||
Total current assets | 229,961,447 | 239,504,858 | ||||||
Property and equipment, net | 106,101,670 | 107,844,655 | ||||||
Operating lease right-of-use assets, net | 29,633,198 | 30,488,841 | ||||||
Goodwill | 5,778,325 | 5,778,325 | ||||||
Other intangible assets, net | 4,124,433 | 4,240,359 | ||||||
Other assets | 3,110,244 | 3,231,488 | ||||||
Total assets | $ | 378,709,317 | $ | 391,088,526 | ||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 48,459,134 | $ | 69,532,355 | ||||
Accrued expenses | 14,468,462 | 15,459,406 | ||||||
Accrued wages, salaries and bonuses | 3,385,796 | 6,745,698 | ||||||
Income taxes payable | 360,668 | — | ||||||
Current operating lease liabilities | 7,579,283 | 7,862,117 | ||||||
Current maturities of long-term debt | 5,517,971 | 5,471,310 | ||||||
Current mandatorily redeemable non-controlling interest | 7,343,535 | 7,020,895 | ||||||
Total current liabilities | 87,114,849 | 112,091,781 | ||||||
Credit facilities | 140,682,183 | 126,804,775 | ||||||
Deferred income tax liability, net | 3,791,416 | 4,048,070 | ||||||
Long-term operating lease liabilities | 22,240,107 | 22,845,456 | ||||||
Long-term debt, less current maturities | 9,624,864 | 11,033,949 | ||||||
Other long-term liabilities | 1,141,885 | 1,193,081 | ||||||
Shareholders’ equity: | ||||||||
Preferred stock, $.01 par value, 1,000,000 shares authorized | — | — | ||||||
Common stock, $.01 par value, 3,000,000 shares authorized, 650,709 shares outstanding at December 2025 and 635,609 shares outstanding at September 2025 | 9,950 | 9,799 | ||||||
Additional paid-in capital | 37,539,841 | 36,991,031 | ||||||
Retained earnings | 108,969,480 | 108,475,842 | ||||||
Treasury stock at cost | (32,405,258 | ) | (32,405,258 | ) | ||||
Total shareholders’ equity | 114,114,013 | 113,071,414 | ||||||
Total liabilities and shareholders’ equity | $ | 378,709,317 | $ | 391,088,526 |
AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Operations for the three months ended December 31, 2025 and 2024 | ||||||||
For the three months ended December | ||||||||
2025 | 2024 | |||||||
Sales (including excise taxes of $143.1 million and $143.4 million, respectively) | $ | 730,055,330 | $ | 711,273,256 | ||||
Cost of sales | 682,007,003 | 664,379,704 | ||||||
Gross profit | 48,048,327 | 46,893,552 | ||||||
Selling, general and administrative expenses | 41,591,659 | 40,587,630 | ||||||
Depreciation and amortization | 2,513,773 | 2,635,601 | ||||||
44,105,432 | 43,223,231 | |||||||
Operating income | 3,942,895 | 3,670,321 | ||||||
Other expense (income): | ||||||||
Interest expense | 2,661,636 | 2,846,621 | ||||||
Change in fair value of mandatorily redeemable non-controlling interest | 322,640 | 194,812 | ||||||
Other (income), net | (79,345 | ) | (111,531 | ) | ||||
2,904,931 | 2,929,902 | |||||||
Income from operations before income taxes | 1,037,964 | 740,419 | ||||||
Income tax expense | 245,000 | 392,000 | ||||||
Net income available to common shareholders | $ | 792,964 | $ | 348,419 | ||||
Basic earnings per share available to common shareholders | $ | 1.29 | $ | 0.57 | ||||
Diluted earnings per share available to common shareholders | $ | 1.28 | $ | 0.57 | ||||
Basic weighted average shares outstanding | 616,788 | 611,322 | ||||||
Diluted weighted average shares outstanding | 618,101 | 613,573 | ||||||
Dividends paid per common share | $ | 0.18 | $ | 0.18 |
AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Shareholders’ Equity for the three months ended December 31, 2025 and 2024 | ||||||||||||||||||||||||||
Additional | ||||||||||||||||||||||||||
Common Stock | Treasury Stock | Paid-in | Retained | |||||||||||||||||||||||
Shares | Amount | Shares | Amount | Capital | Earnings | Total | ||||||||||||||||||||
THREE MONTHS ENDED DECEMBER 2024 | ||||||||||||||||||||||||||
Balance, October 1, 2024 | 964,945 | $ | 9,648 | (334,583 | ) | $ | (31,272,163 | ) | $ | 34,439,735 | $ | 108,552,565 | $ | 111,729,785 | ||||||||||||
Dividends on common stock, $0.46 per share | — | — | — | — | — | (296,913 | ) | (296,913 | ) | |||||||||||||||||
Compensation expense related to equity-based awards | 15,100 | 151 | — | — | 637,711 | — | 637,862 | |||||||||||||||||||
Net income available to common shareholders | — | — | — | — | — | 348,419 | 348,419 | |||||||||||||||||||
Balance, December 31, 2024 | 980,045 | $ | 9,799 | (334,583 | ) | $ | (31,272,163 | ) | $ | 35,077,446 | $ | 108,604,071 | $ | 112,419,153 | ||||||||||||
THREE MONTHS ENDED DECEMBER 2025 | ||||||||||||||||||||||||||
Balance, October 1, 2025 | 980,045 | $ | 9,799 | (344,436 | ) | $ | (32,405,258 | ) | $ | 36,991,031 | $ | 108,475,842 | $ | 113,071,414 | ||||||||||||
Dividends on common stock, $0.46 per share | — | — | — | — | — | (299,326 | ) | (299,326 | ) | |||||||||||||||||
Compensation expense related to equity-based awards | 15,100 | 151 | — | — | 548,810 | — | 548,961 | |||||||||||||||||||
Net income available to common shareholders | — | — | — | — | — | 792,964 | 792,964 | |||||||||||||||||||
Balance, December 31, 2025 | 995,145 | $ | 9,950 | (344,436 | ) | $ | (32,405,258 | ) | $ | 37,539,841 | $ | 108,969,480 | $ | 114,114,013 |
AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Cash Flows for the three months ended December 31, 2025 and 2024 | ||||||||
December | December | |||||||
2025 | 2024 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net income available to common shareholders | $ | 792,964 | $ | 348,419 | ||||
Adjustments to reconcile net income available to common shareholders to net cash flows from (used in) operating activities: | ||||||||
Depreciation | 2,397,847 | 2,501,175 | ||||||
Amortization | 115,926 | 134,426 | ||||||
(Gain) loss on sales of property and equipment | 4,869 | (840 | ) | |||||
Equity-based compensation | 548,961 | 637,862 | ||||||
Deferred income taxes | (256,654 | ) | 69,577 | |||||
Provision for credit losses | (49,000 | ) | 112,746 | |||||
Inventory allowance | 8,538 | 24,405 | ||||||
Change in fair value of contingent consideration | — | (1,453,452 | ) | |||||
Change in fair value of mandatorily redeemable non-controlling interest | 322,640 | 194,812 | ||||||
Changes in assets and liabilities: | ||||||||
Accounts receivable | 4,100,376 | (49,572 | ) | |||||
Inventories | 8,869,760 | (30,293,089 | ) | |||||
Prepaid and other current assets | (3,493,109 | ) | 668,184 | |||||
Other assets | 121,244 | (190,306 | ) | |||||
Accounts payable | (21,064,250 | ) | (6,911,400 | ) | ||||
Accrued expenses and accrued wages, salaries and bonuses | (4,565,585 | ) | (6,055,070 | ) | ||||
Other long-term liabilities | (51,196 | ) | 71,823 | |||||
Income taxes payable and receivable | 501,654 | 322,423 | ||||||
Net cash flows from (used in) operating activities | (11,695,015 | ) | (39,867,877 | ) | ||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
Purchase of property and equipment | (678,402 | ) | (3,453,711 | ) | ||||
Proceeds from sales of property and equipment | 9,700 | 12,442 | ||||||
Net cash flows from (used in) investing activities | (668,702 | ) | (3,441,269 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
Borrowings under revolving credit facilities | 699,127,269 | 713,853,301 | ||||||
Repayments under revolving credit facilities | (685,249,861 | ) | (669,224,693 | ) | ||||
Principal payments on long-term debt | (1,362,424 | ) | (1,340,204 | ) | ||||
Dividends on common stock | (117,127 | ) | (116,184 | ) | ||||
Net cash flows from (used in) financing activities | 12,397,857 | 43,172,220 | ||||||
Net change in cash | 34,140 | (136,926 | ) | |||||
Cash, beginning of period | 744,613 | 672,788 | ||||||
Cash, end of period | $ | 778,753 | $ | 535,862 | ||||
Supplemental disclosure of cash flow information: | ||||||||
Cash paid during the period for interest, net of amounts capitalized | $ | 2,635,661 | $ | 2,815,683 | ||||
Supplemental disclosure of non-cash information: | ||||||||
Equipment acquisitions classified in accounts payable | $ | 32,413 | $ | 772,820 | ||||
Dividends declared, not paid | 182,199 | 180,729 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260119627015/en/
Ämnen i artikeln
AMCON Distributing Company Reports Results for the Quarter Ended December 31, 2025
Igår, 22:10
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 $1.28 on net income available to common shareholders of $0.8 million for its first fiscal quarter ended December 31, 2025.
“AMCON’s industry leading suite of programs and services provides the foundational support for our operating philosophy centered on a superior level of customer service. AMCON’s commitment to proprietary foodservice programs and custom curated store level merchandising is a value-added approach to convenience distribution. We now have the capability to offer turn-key solutions that will enable our retail partners the ability to compete head-on with the Quick Service Restaurant industry,” said Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer. He further noted, “We continue to actively seek strategic acquisition opportunities for Convenience and Foodservice Distributors, and their families, who want to align with our customer focused approach philosophy and further the legacy of their enterprises.”
“Our customer-centric approach provides extraordinary value to our retail partners in challenging weather conditions as our AMCON teams ensure a consistent and timely flow of goods and services. As we grow, our customer base has demonstrated enthusiasm for our integrated state-of-the-art advertising, design, print and electronic display programs. These marketing tools provide our customers a competitive edge,” said Andrew C. Plummer, AMCON’s President and Chief Operating Officer.
For the fiscal quarter ended December 2025, the wholesale distribution segment reported revenues of $719.3 million and operating income of $6.9 million, and the retail health food segment reported revenues of $10.8 million and an operating loss of $0.2 million.
“We continue our relentless daily focus on managing the Company’s balance sheet and maximizing our liquidity position. At December 31, 2025, our shareholders’ equity was $114.1 million,” said Charles J. Schmaderer, AMCON’s Chief Financial Officer. Mr. Schmaderer also added, “Cost structures for Convenience Distributors have been impacted by the cumulative impact of inflation over a multi-year period. These inflationary pressures have resulted in higher operating expenses in areas such as product costs, labor and employee benefits, equipment, and insurance.”
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: www.amcon.com
AMCON Distributing Company and Subsidiaries Condensed Consolidated Balance Sheets December 31, 2025 and September 30, 2025 | ||||||||
December | September | |||||||
2025 | 2025 | |||||||
(Unaudited) | ||||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash | $ | 778,753 | $ | 744,613 | ||||
Accounts receivable, less allowance for credit losses of $2.3 million at December 2025 and $2.4 million at September 2025 | 69,140,693 | 73,192,069 | ||||||
Inventories, net | 144,398,247 | 153,276,545 | ||||||
Income taxes receivable | — | 140,986 | ||||||
Prepaid expenses and other current assets | 15,643,754 | 12,150,645 | ||||||
Total current assets | 229,961,447 | 239,504,858 | ||||||
Property and equipment, net | 106,101,670 | 107,844,655 | ||||||
Operating lease right-of-use assets, net | 29,633,198 | 30,488,841 | ||||||
Goodwill | 5,778,325 | 5,778,325 | ||||||
Other intangible assets, net | 4,124,433 | 4,240,359 | ||||||
Other assets | 3,110,244 | 3,231,488 | ||||||
Total assets | $ | 378,709,317 | $ | 391,088,526 | ||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 48,459,134 | $ | 69,532,355 | ||||
Accrued expenses | 14,468,462 | 15,459,406 | ||||||
Accrued wages, salaries and bonuses | 3,385,796 | 6,745,698 | ||||||
Income taxes payable | 360,668 | — | ||||||
Current operating lease liabilities | 7,579,283 | 7,862,117 | ||||||
Current maturities of long-term debt | 5,517,971 | 5,471,310 | ||||||
Current mandatorily redeemable non-controlling interest | 7,343,535 | 7,020,895 | ||||||
Total current liabilities | 87,114,849 | 112,091,781 | ||||||
Credit facilities | 140,682,183 | 126,804,775 | ||||||
Deferred income tax liability, net | 3,791,416 | 4,048,070 | ||||||
Long-term operating lease liabilities | 22,240,107 | 22,845,456 | ||||||
Long-term debt, less current maturities | 9,624,864 | 11,033,949 | ||||||
Other long-term liabilities | 1,141,885 | 1,193,081 | ||||||
Shareholders’ equity: | ||||||||
Preferred stock, $.01 par value, 1,000,000 shares authorized | — | — | ||||||
Common stock, $.01 par value, 3,000,000 shares authorized, 650,709 shares outstanding at December 2025 and 635,609 shares outstanding at September 2025 | 9,950 | 9,799 | ||||||
Additional paid-in capital | 37,539,841 | 36,991,031 | ||||||
Retained earnings | 108,969,480 | 108,475,842 | ||||||
Treasury stock at cost | (32,405,258 | ) | (32,405,258 | ) | ||||
Total shareholders’ equity | 114,114,013 | 113,071,414 | ||||||
Total liabilities and shareholders’ equity | $ | 378,709,317 | $ | 391,088,526 |
AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Operations for the three months ended December 31, 2025 and 2024 | ||||||||
For the three months ended December | ||||||||
2025 | 2024 | |||||||
Sales (including excise taxes of $143.1 million and $143.4 million, respectively) | $ | 730,055,330 | $ | 711,273,256 | ||||
Cost of sales | 682,007,003 | 664,379,704 | ||||||
Gross profit | 48,048,327 | 46,893,552 | ||||||
Selling, general and administrative expenses | 41,591,659 | 40,587,630 | ||||||
Depreciation and amortization | 2,513,773 | 2,635,601 | ||||||
44,105,432 | 43,223,231 | |||||||
Operating income | 3,942,895 | 3,670,321 | ||||||
Other expense (income): | ||||||||
Interest expense | 2,661,636 | 2,846,621 | ||||||
Change in fair value of mandatorily redeemable non-controlling interest | 322,640 | 194,812 | ||||||
Other (income), net | (79,345 | ) | (111,531 | ) | ||||
2,904,931 | 2,929,902 | |||||||
Income from operations before income taxes | 1,037,964 | 740,419 | ||||||
Income tax expense | 245,000 | 392,000 | ||||||
Net income available to common shareholders | $ | 792,964 | $ | 348,419 | ||||
Basic earnings per share available to common shareholders | $ | 1.29 | $ | 0.57 | ||||
Diluted earnings per share available to common shareholders | $ | 1.28 | $ | 0.57 | ||||
Basic weighted average shares outstanding | 616,788 | 611,322 | ||||||
Diluted weighted average shares outstanding | 618,101 | 613,573 | ||||||
Dividends paid per common share | $ | 0.18 | $ | 0.18 |
AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Shareholders’ Equity for the three months ended December 31, 2025 and 2024 | ||||||||||||||||||||||||||
Additional | ||||||||||||||||||||||||||
Common Stock | Treasury Stock | Paid-in | Retained | |||||||||||||||||||||||
Shares | Amount | Shares | Amount | Capital | Earnings | Total | ||||||||||||||||||||
THREE MONTHS ENDED DECEMBER 2024 | ||||||||||||||||||||||||||
Balance, October 1, 2024 | 964,945 | $ | 9,648 | (334,583 | ) | $ | (31,272,163 | ) | $ | 34,439,735 | $ | 108,552,565 | $ | 111,729,785 | ||||||||||||
Dividends on common stock, $0.46 per share | — | — | — | — | — | (296,913 | ) | (296,913 | ) | |||||||||||||||||
Compensation expense related to equity-based awards | 15,100 | 151 | — | — | 637,711 | — | 637,862 | |||||||||||||||||||
Net income available to common shareholders | — | — | — | — | — | 348,419 | 348,419 | |||||||||||||||||||
Balance, December 31, 2024 | 980,045 | $ | 9,799 | (334,583 | ) | $ | (31,272,163 | ) | $ | 35,077,446 | $ | 108,604,071 | $ | 112,419,153 | ||||||||||||
THREE MONTHS ENDED DECEMBER 2025 | ||||||||||||||||||||||||||
Balance, October 1, 2025 | 980,045 | $ | 9,799 | (344,436 | ) | $ | (32,405,258 | ) | $ | 36,991,031 | $ | 108,475,842 | $ | 113,071,414 | ||||||||||||
Dividends on common stock, $0.46 per share | — | — | — | — | — | (299,326 | ) | (299,326 | ) | |||||||||||||||||
Compensation expense related to equity-based awards | 15,100 | 151 | — | — | 548,810 | — | 548,961 | |||||||||||||||||||
Net income available to common shareholders | — | — | — | — | — | 792,964 | 792,964 | |||||||||||||||||||
Balance, December 31, 2025 | 995,145 | $ | 9,950 | (344,436 | ) | $ | (32,405,258 | ) | $ | 37,539,841 | $ | 108,969,480 | $ | 114,114,013 |
AMCON Distributing Company and Subsidiaries Condensed Consolidated Unaudited Statements of Cash Flows for the three months ended December 31, 2025 and 2024 | ||||||||
December | December | |||||||
2025 | 2024 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net income available to common shareholders | $ | 792,964 | $ | 348,419 | ||||
Adjustments to reconcile net income available to common shareholders to net cash flows from (used in) operating activities: | ||||||||
Depreciation | 2,397,847 | 2,501,175 | ||||||
Amortization | 115,926 | 134,426 | ||||||
(Gain) loss on sales of property and equipment | 4,869 | (840 | ) | |||||
Equity-based compensation | 548,961 | 637,862 | ||||||
Deferred income taxes | (256,654 | ) | 69,577 | |||||
Provision for credit losses | (49,000 | ) | 112,746 | |||||
Inventory allowance | 8,538 | 24,405 | ||||||
Change in fair value of contingent consideration | — | (1,453,452 | ) | |||||
Change in fair value of mandatorily redeemable non-controlling interest | 322,640 | 194,812 | ||||||
Changes in assets and liabilities: | ||||||||
Accounts receivable | 4,100,376 | (49,572 | ) | |||||
Inventories | 8,869,760 | (30,293,089 | ) | |||||
Prepaid and other current assets | (3,493,109 | ) | 668,184 | |||||
Other assets | 121,244 | (190,306 | ) | |||||
Accounts payable | (21,064,250 | ) | (6,911,400 | ) | ||||
Accrued expenses and accrued wages, salaries and bonuses | (4,565,585 | ) | (6,055,070 | ) | ||||
Other long-term liabilities | (51,196 | ) | 71,823 | |||||
Income taxes payable and receivable | 501,654 | 322,423 | ||||||
Net cash flows from (used in) operating activities | (11,695,015 | ) | (39,867,877 | ) | ||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
Purchase of property and equipment | (678,402 | ) | (3,453,711 | ) | ||||
Proceeds from sales of property and equipment | 9,700 | 12,442 | ||||||
Net cash flows from (used in) investing activities | (668,702 | ) | (3,441,269 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
Borrowings under revolving credit facilities | 699,127,269 | 713,853,301 | ||||||
Repayments under revolving credit facilities | (685,249,861 | ) | (669,224,693 | ) | ||||
Principal payments on long-term debt | (1,362,424 | ) | (1,340,204 | ) | ||||
Dividends on common stock | (117,127 | ) | (116,184 | ) | ||||
Net cash flows from (used in) financing activities | 12,397,857 | 43,172,220 | ||||||
Net change in cash | 34,140 | (136,926 | ) | |||||
Cash, beginning of period | 744,613 | 672,788 | ||||||
Cash, end of period | $ | 778,753 | $ | 535,862 | ||||
Supplemental disclosure of cash flow information: | ||||||||
Cash paid during the period for interest, net of amounts capitalized | $ | 2,635,661 | $ | 2,815,683 | ||||
Supplemental disclosure of non-cash information: | ||||||||
Equipment acquisitions classified in accounts payable | $ | 32,413 | $ | 772,820 | ||||
Dividends declared, not paid | 182,199 | 180,729 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260119627015/en/
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