earnings
confidence high
sentiment positive
materiality 0.75
Ingles Markets Q3 net sales $1.28B (+7.4%), EPS $3.88 vs $3.18; issues $350M 4% Senior Notes
INGLES MARKETS INC
- Net sales $1.28B (+7.4% YoY); net income $72.0M vs $62.8M; diluted EPS Class A $3.79 vs $3.10.
- Issued $350M of 4.00% Senior Notes due 2031, redeeming $295M of 5.75% notes due 2023.
- Interest expense fell to $5.5M from $9.7M YoY due to refinancing and lower rates.
- Nine-month net sales $3.65B (+7.0%); net income $178M vs $120.7M; capex $108M YTD, FY forecast $120-140M.
- Gross margin 26.4% vs 27.3% YoY; operating expenses rose to $239.4M on higher sales volume and labor costs.