Foodservice

Amcon Distributing boosts sales and earnings for Q2 2021

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April 20, 2021

Amcon Distributing Co., a foodservice wholesale distributor, reported raising sales from $337.9 million in Q2 2020 to $378.5 million for Q2 2021 ending March 31, 2021, and raised net income from $699 million in Q2 2020 to $2.4 billion in Q2 2021, according to an earnings release.

Diluted earnings per share rose from $1.22 in Q2 2020 to $4.33 for Q2 2021 while basic earnings per share rose from $1.24 to $4.41 in the respective periods.

Shares traded at $115.6 on Monday against a 52-week range of $49.61-$138.12.

The retail health food segment reported revenues of $12.3 million and operating income of $700,000 for the second quarter of fiscal 2021.

"Our customer base continues to grow geographically and Amcon is deploying the capital and human resources necessary to support this growth in a collaborative fashion," Andrew Plummer, president and chief operating officer, said in the press release.