AMCON (DIT) Q3 Earnings Fall Y/Y on High SG&A Costs, Sales Rise [Yahoo! Finance]
AMCON Distributing Company (DIT)
NASDAQ:AMEX Investor Relations:
amcon.com
Company Research
Source: Yahoo! Finance
The company achieved earnings per share (EPS) of $2.46, down significantly from $6.59 in the same quarter last year. The drop in EPS is primarily attributed to increased costs and expenses that outpaced revenue growth. Sales for the quarter reached $717.9 million, up from $696.5 million in the prior-year period. This growth was driven by strong demand in the convenience and foodservice distribution sectors. However, the increase in sales was partially offset by the higher cost of goods sold, which rose to $669.9 million from $649.6 million in the third quarter of fiscal 2023. The increase in sales indicates strong market demand, but the significant rise in selling, general, and administrative (SG&A) expenses and interest costs has compressed margins and profitability. The investments in technology and distribution capabilities are expected to yield long-term benefits, though they currently burden the financials. Management's focus on strategic acquisitions aims to enhance market p
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Sec Filings
- 7/18/24 - Form 10-Q
- 7/18/24 - Form 8-K
- DIT's page on the SEC website