Ingles Markets Q1 net sales rise, margins improve

Reuters
Feb 05
Ingles Markets Q1 net sales rise, margins improve

Overview

  • U.S. grocer's fiscal Q1 net sales rose 6.6% yr/yr to $1.37 bln

  • Net income for fiscal Q1 rose to $28.1 mln from $16.6 mln yr/yr

  • EPS for Class A and B stocks increased compared to last year

Outlook

  • Company expects sufficient financial resources for future capital expenditures and debt service

  • Three stores closed by Hurricane Helene expected to reopen in 2026 and 2027

Result Drivers

  • SALES GROWTH - Net sales increased by 6.6% to $1.37 bln, driven by higher gross profit margins

  • DEBT REDUCTION - Total debt decreased to $511.5 mln from $529.4 mln yr/yr, aiding financial stability

  • STORE CLOSURES - Three stores remain closed due to Hurricane Helene, expected to reopen in 2026-2027

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Sales

$1.37 bln

Q1 EPS

$1.48

Q1 Net Income

$28.13 mln

Q1 Gross Profit

$334.56 mln

Q1 Operating Income

$39.14 mln

Press Release: ID:nBwZd3wfa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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