Ingles Markets Q2 net income falls 21% to $31.9M; EPS $1.72 vs $2.18

INGLES MARKETS INC

Q2 sales $1.37B (-0.95% YoY); gross margin 23.5% vs 23.6%.
Operating expenses rose to $284.8M from $268.9M, pressuring margins.
First-half net income $75.3M vs $109.9M; basic EPS $4.05 vs $5.92.
Debt reduced to $539.1M; no borrowings on $150M line of credit.
Capex $98.4M in H1; company expects sufficient liquidity for needs.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

INGLES MARKETS INC reported six months ended March 30, 2024 results: revenue $2.85 billion, net income $75.3 million, EPS $4.05 and $3.96.

Period: six months ended March 30, 2024
Revenue: $2.85 billion
Net income: $75.3 million
EPS: $4.05 and $3.96
Result: reported results

Exact text from the filing

March 30, 2024, as compared with $2.18 and $2.13, respectively, for the quarter ended March 25, 2023. First Half Fiscal 2024 Results First half fiscal 2024 net sales totaled $2.85 billion, a decrease of 0.88% compared with $2.87 billion in the first half of fiscal 2023. Gross profit for the six months ended March 30, 2024, totaled $670.7 million, as compared with

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

INGLES MARKETS INC reported second quarter ended March 30, 2024 results: revenue $1.37 billion, net income $31.9 million, EPS $1.72 and $1.68.

Period: second quarter ended March 30, 2024
Revenue: $1.37 billion
Net income: $31.9 million
EPS: $1.72 and $1.68
Result: reported results

Exact text from the filing

stated, “We are pleased with our results and thank all our associates for their continued service to our customers and company.” Second Quarter 2024 Results Net sales totaled $1.37 billion for the quarter ended March 30, 2024, a decrease of 0.95% compared with $1.38 billion for the quarter ended March 25, 2023. Gross profit for the second quarter of fiscal 2024

View on SEC.gov

1050 earnings releases filed in the last 30 days. Browse all earnings releases →

INGLES MARKETS INC filing history →

Source: SEC EDGAR

accession 0001437749-24-015458

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.