AMCON: Organic Revenue Growth Remains Elusive (Rating Downgrade) [Seeking Alpha]
AMCON Distributing Company (DIT)
NASDAQ:AMEX Investor Relations:
amcon.com
Company Research
Source: Seeking Alpha
With interest expenses soaring by 36.4% to $2.3 million, I think AMCON will struggle to book a net income of over $7 million for FY24. In my view, there is a good short-selling opportunity here, but risk-averse investors should avoid this stock. Microcap Review members get exclusive access to our real-world portfolio. See all our investments here » Introduction In June 2023, I wrote an article on SA about AMCON Distributing Company ( NYSE: DIT ) in which I said that it was likely to struggle to surpass $10 million in net income in FY23 due to rising interest expenses. Well, it seems that I was a bit too pessimistic, as net income for the fiscal year came in at $11.6 million. That being said, the net income slumped by 59.3% year on year to just $1.1 million in Q1 FY24 as the company struggled with organic revenue growth once again and the average interest rate of its credit facilities stood at over 7%. In my view, the future of AMCON looks grim, and I'm cutting my rating on it
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DIT
News
- AMCON Distributing Company Announces $0.18 Quarterly DividendBusiness Wire
- AMCON Distributing Company Acquires Richmond Master Distributors, Inc. [Yahoo! Finance]Yahoo! Finance
- AMCON Distributing Company Acquires Richmond Master Distributors, Inc.Business Wire
- AMCON Distributing Company Reports Results for the Quarter Ended March 31, 2024 [Yahoo! Finance]Yahoo! Finance
- AMCON Distributing Company Reports Results for the Quarter Ended March 31, 2024Business Wire
DIT
Sec Filings
- 4/19/24 - Form 8-K
- 4/18/24 - Form 10-Q
- 4/5/24 - Form 8-K
- DIT's page on the SEC website