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Dec 24, 2022
Ingles Q1 2023 Earnings Report
Ingles reported increased sales and net income for the quarter ended December 24, 2022.
Key Takeaways
Ingles Markets reported a strong first quarter with net sales reaching $1.49 billion, a 7.3% increase compared to the previous year. Net income also increased to $69.4 million, up from $66.2 million in the same quarter last year.
Net sales increased by 7.3% to $1.49 billion.
Gross profit totaled $371.2 million, representing 24.9% of sales.
Net income rose to $69.4 million.
Basic earnings per share for Class A Common Stock were $3.73.
Forward Guidance
The Company believes its financial resources will be sufficient to meet planned capital expenditures, debt service and working capital requirements for the foreseeable future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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