earnings
confidence high
sentiment negative
materiality 0.75
Ingles Q3 net income falls 34% to $31.7M; sales down to $1.39B
INGLES MARKETS INC
- Q3 net sales $1.39B (-2.8% YoY); net income $31.7M vs $48.3M.
- Diluted EPS Class A $1.67 vs $2.54; gross margin 23.7% vs 23.6%.
- Nine-month net income $107.0M vs $158.2M; diluted EPS $5.63 vs $8.33.
- Operating expenses rose to $286.3M from $270.9M; interest flat at $5.4M.
- Capex YTD $143M; FY24 capex guidance $170M-$190M; no revolver borrowings.