earnings
confidence high
sentiment negative
materiality 0.80
Ingles Markets Q1 net sales down 13% to $1.29B; EPS falls to $0.87 from $2.28
INGLES MARKETS INC
- Net income $16.6M vs $43.4M YoY; diluted EPS $0.87 vs $2.28.
- Gross profit margin 23.4% vs 23.6%; operating expenses fell to $280.7M.
- Hurricane Helene caused $55-65M lost revenue in 3 weeks; $5.4M cleanup costs.
- Three stores remain closed from storm damage, expected to reopen in 2025.
- Capital expenditures $37.8M vs $63.2M YoY; no borrowings on $150M line.