Ingles Q1 2024 Earnings Report

Ingles Markets' first quarter fiscal 2024 results were reported, with net sales decreasing slightly and net income declining compared to the previous year.

Key Takeaways

Ingles Markets reported a slight decrease in net sales and a significant decrease in net income for the first quarter of fiscal year 2024. Net sales totaled $1.48 billion, a decrease of 0.8% compared to the previous year. Net income totaled $43.4 million, down from $69.4 million in the first quarter of fiscal year 2023.

Net sales decreased by 0.8% to $1.48 billion.

Gross profit totaled $348.8 million, representing 23.6% of sales.

Net income decreased to $43.4 million.

Basic earnings per share for Class A Common Stock were $2.33.

Total Revenue

$1.48B

Previous year: $1.49B