Ingles Q4 2020 Earnings Report

Ingles Markets, Incorporated reported increased sales and net income.

Key Takeaways

Ingles Markets, Incorporated reported an increase in net sales to $1.20 billion for the quarter ended September 26, 2020, representing an 11.3% increase compared to the previous year. Net income for the quarter totaled $57.9 million, significantly higher than the $20.9 million reported in the same quarter of the previous year.

Net sales increased by 11.3% compared to the same quarter last year.

Gross profit increased to $324.5 million, representing 27.1% of sales.

Net income rose to $57.9 million, a significant increase from $20.9 million in the prior year quarter.

Basic earnings per share for Class A Common Stock were $2.94, up from $1.07 in the prior year.

Total Revenue

$1.2B

Previous year: $1.08B