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Dec 26, 2020
Ingles Q1 2021 Earnings Report
Ingles reported increased sales and net income for the first quarter of fiscal year 2021.
Key Takeaways
Ingles Markets reported a strong first quarter in fiscal year 2021, with net sales reaching $1.19 billion, a 10.4% increase compared to the previous year, and net income totaling $53.8 million, significantly higher than the $17.7 million reported in the same quarter of the previous year.
Net sales increased by 10.4% to $1.19 billion compared to the same quarter last year.
Gross profit increased to $314.2 million, representing 26.4% of sales.
Net income rose significantly to $53.8 million, compared to $17.7 million in the previous year's quarter.
Basic earnings per share for Class A Common Stock were $2.73, up from $0.90 in the prior year.
Forward Guidance
Ingles believes its financial resources will be sufficient to meet planned capital expenditures, debt service and working capital requirements for the foreseeable future. However, the Company cannot predict the impact of the pandemic on future periods.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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