Ingles Q3 2024 Earnings Report

Ingles Markets reported results for the third quarter of fiscal year 2024.

Key Takeaways

Ingles Markets reported net sales of $1.39 billion for the quarter ended June 29, 2024, compared to $1.43 billion for the quarter ended June 24, 2023. Net income totaled $31.7 million for the third quarter of fiscal 2024, as compared with $48.3 million for the third quarter of fiscal 2023.

Net sales totaled $1.39 billion, a decrease from $1.43 billion in the same quarter last year.

Gross profit was $329.8 million, or 23.7% of sales, compared to $338.1 million, or 23.6% of sales, in the prior year's quarter.

Net income decreased to $31.7 million from $48.3 million in the third quarter of fiscal 2023.

Basic earnings per share for Class A Common Stock were $1.71, compared to $2.60 in the same quarter last year.

Total Revenue

$1.39B

Previous year: $1.43B