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Mar 25, 2023
Ingles Q2 2023 Earnings Report
Sales increased slightly, but net income and EPS decreased compared to the same quarter last year.
Key Takeaways
Ingles Markets reported a slight increase in net sales for the second quarter of fiscal 2023, but experienced a decrease in net income and earnings per share compared to the previous year. The company highlighted its efforts to provide affordable, high-quality products in an inflationary environment.
Net sales increased by 0.25% to $1.381 billion.
Gross profit decreased to $325.9 million, or 23.6% of sales, compared to $348.6 million, or 25.3% of sales, in the prior year.
Net income decreased to $40.5 million, compared to $68.6 million in the same quarter last year.
Diluted earnings per share for Class A Common Stock decreased to $2.13, compared to $3.61 in the prior year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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