Foodservice

Amcon Distributing boosts Q1 2022 sales, EPS

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January 19, 2022

Amcon Distributing Co., a wholesale distributor of consumer products, including beverages, candy, tobacco, groceries, foodservice, frozen foods, chilled foods and health and beauty care products, reported sales rose from $404.7 million in Q1 2021 to $422.6 million for the first fiscal quarter ending Dec. 31, 2021, according to an earnings release.

Net income fell from $3.07 million to $3 million.

Diluted earnings per share rose from 18 cents to $5.18 in the comparative quarters.

"Amcon continues to navigate a challenging operating environment," Christopher H. Atayan, Amcon's chairman and chief executive officer, said in the press release. "Our management team was able to deliver our customers a safe, consistent and seamless level of customer service."

The wholesale distribution segment reported revenues of $410.6 million and operating income of $7.4 million for the first quarter of fiscal 2022. The retail health food segment reported revenues of $11.9 million and operating income of $500,000.

Shares traded at $215.87 Tuesday against a 52-week range of $97.65-$270.