Ingles Q1 2022 Earnings Report

Ingles Markets reported increased sales and net income for the quarter ended December 25, 2021.

Key Takeaways

Ingles Markets reported a strong first quarter with net sales reaching $1.39 billion, a 16.9% increase compared to the previous year. Net income also increased to $66.2 million, up from $53.8 million in the same quarter last year. The company's performance was driven by good sales during the Thanksgiving and Christmas period, despite supply chain disruptions.

Net sales increased by 16.9% to $1.39 billion compared to the same quarter last year.

Gross profit totaled $350.5 million, representing 25.2% of sales.

Net income rose to $66.2 million, compared to $53.8 million in the previous year.

Basic earnings per share for Class A Common Stock were $3.57, up from $2.73 last year.

Total Revenue

$1.39B

Previous year: $1.19B