Ingles Q4 2023 Earnings Report

Ingles Markets reported results for the fourth quarter of 2023.

Key Takeaways

Ingles Markets, Incorporated reported a net sales increase to $1.58 billion compared to $1.45 billion for the quarter ended September 24, 2022. Net income totaled $52.6 million for the quarter, compared to $70.2 million for the same quarter last year. Basic earnings per share for Class A Common Stock were $2.83, compared to $3.78 last year.

Net sales for the quarter increased to $1.58 billion from $1.45 billion in the previous year.

Gross profit reached $369.7 million, representing 23.3% of sales.

Net income for the quarter was $52.6 million, down from $70.2 million in the prior year.

Basic earnings per share for Class A Common Stock were $2.83, a decrease from $3.78 in the previous year.

Total Revenue

$1.58B

Previous year: $1.45B