Ingles Markets, Incorporated Reports Results for Third Quarter and First Nine Months of Fiscal 2026

About this update from Ingles Markets, Incorporated

Ingles Markets, Incorporated (NASDAQ: IMKTA) today reported results for the three and nine months ended June 27, 2026. Robert P. Ingle II, Chairman of the Board, stated, “We are pleased with our results and thank our associates for their continued focus on our customers’ experience as we strive to provide value, selection and quality offerings.” Third Quarter Results Net sales totaled $1.37 billion for the quarter ended June 27, 2026, compared with $1.35 billion for the quarter ended June 28, 2025. Gross profit for the third quarter of fiscal 2026 totaled $332.4 million, or 24.3% of sales. Gross profit for the third quarter of fiscal 2025 was $327.3 million, or 24.3% of sales. Operating and administrative expenses for the third quarter of fiscal 2026 totaled $298.0 million compared with $290.1 million for the third quarter of fiscal 2025. Interest expenses totaled $4.5 million for the third quarter of fiscal 2026 compared with $4.9 million for the third quarter of fiscal 2025. Net income totaled $25.9 million for the third quarter of fiscal 2026, as compared with $26.2 million for the third quarter of fiscal 2025. Basic and diluted earnings per share for Class A Common Stock were $1.39 and $1.36, respectively, for the quarter ended June 27, 2026, as compared with $1.41 and $1.38, respectively, for the quarter ended June 28, 2025. Basic and diluted earnings per share for Class B Common Stock were each $1.27 for the quarter ended June 27, 2026, as compared with $1.28 for the quarter ended June 28, 2025. Nine Month Results Net sales totaled $4.05 billion for the nine months ended June 27, 2026, as compared with $3.97 billion for the nine months ended June 28, 2025. Gross profit for the nine months ended June 27, 2026, totaled $992.3 million, or 24.5% of sales. Gross profit for the nine months ended June 28, 2025, totaled $939.4 million, or 23.7% of sales. Operating and administrative expenses totaled $884.6 million for the nine months ended June 27, 2026, as compared to $860.0 million for the nine months ended June 28, 2025. Interest expense totaled $13.6 million for the nine-month period ended June 27, 2026, and $14.7 million for the nine-month period ended June 28, 2025. Total debt as of June 27, 2026, was $500.5 million compared to $518.0 million as of June 28, 2025. Net income totaled $78.3 million for the nine-month period ended June 27, 2026, compared with $57.9 million for the nine-month period ended June 28, 2025. Basic and diluted earnings per share for Class A Common Stock were $4.21 and $4.12, respectively, for the nine months ended June 27, 2026, as compared with $3.11 and $3.05, respectively, for the nine months ended June 28, 2025. Basic and diluted earnings per share for Class B Common Stock were each $3.83 for the nine months ended June 27, 2026, as compared with $2.83 for the nine months ended June 28, 2025. Capital expenditures for the nine months ended June 27, 2026, totaled $76.4 million, as compared with $91.4 million for the nine months ended June 28, 2025. Capital expenditures for the entire fiscal year 2026 are expected to be approximately $120 million to $130 million. As of June 27, 2026, the Company had outstanding only a single letter of credit in the amount of $900,000 under its $150.0 million line of credit and otherwise had no borrowings outstanding thereunder. The Company believes its financial resources, including its line of credit and other internal and external sources of funds, will be sufficient to meet planned capital expenditures, debt service and working capital requirements for the foreseeable future. About Ingles Markets, Incorporated Ingles Markets, Incorporated is a leading grocer with operations in six southeastern states. Headquartered in Asheville, North Carolina, the Company operates 195 supermarkets. At June 27, 2026, three of the four stores temporarily closed due to damage sustained in Hurricane Helene remained closed but are expected to reopen at various times in 2026 and 2027. In conjunction with its supermarket operations, the Company operates neighborhood shopping centers, most of which contain an Ingles supermarket. The Company also owns a fluid dairy facility that supplies Ingles supermarkets and unaffiliated customers. To learn more about Ingles Markets visit ingles-markets.com . Cautionary Note Regarding Forward-Looking Statements This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “anticipate,” “aim,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and the negative of these terms, and similar references to future periods. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to, among other things: business and economic conditions generally in the Company’s operating area, including inflation or deflation; shortages of labor, distribution capacity, and some product shortages; inflation in food, labor and gasoline prices; the Company’s ability to successfully implement our expansion and operating strategies; pricing pressures and other competitive factors, including online-based procurement of products the Company sells; sudden or significant changes in the availability of gasoline and retail gasoline prices; the maturation of new and expanded stores; general concerns about food safety; the Company’s ability to manage technology and data security; the availability and terms of financing; and increases in costs, including food, utilities, labor and other goods and services significant to the Company’s operations. Detailed information about these factors and additional important factors can be found in the documents that the Company files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. The Company does not undertake an obligation to update forward-looking information, except to the extent required by applicable law. INGLES MARKETS, INCORPORATED (Amounts in thousands except per share data)     Unaudited Financial Highlights Condensed Consolidated Statements of Income (Unaudited)               Three Months Ended   Nine Months Ended     June 27, June 28,   June 27, June 28,     2026 2025   2026 2025               Net sales   $ 1,368,324 $ 1,346,222   $ 4,049,165 $ 3,965,609 Gross profit     332,444   327,330     992,261   939,442 Operating and administrative expenses     298,005   290,131     884,573   859,985 Gain from sale or disposal of assets     44   143     401   3,097 Income from operations     34,483   37,342     108,089   82,554 Other income, net     3,037   2,769     8,720   8,909 Interest expense     4,503   4,856     13,605   14,746 Income tax expense     7,118   9,056     24,909   18,824 Net income   $ 25,899 $ 26,199   $ 78,295 $ 57,893               Basic earnings per common share – Class A   $ 1.39 $ 1.41   $ 4.21 $ 3.11 Diluted earnings per common share – Class A   $ 1.36 $ 1.38   $ 4.12 $ 3.05 Basic earnings per common share – Class B   $ 1.27 $ 1.28   $ 3.83 $ 2.83 Diluted earnings per common share – Class B   $ 1.27 $ 1.28   $ 3.83 $ 2.83               Additional selected information:             Depreciation and amortization expense   $ 30,096 $ 30,678   $ 90,462 $ 92,214 Rent expense   $ 1,732 $ 1,779   $ 5,194 $ 5,507   Condensed Consolidated Balance Sheets (Unaudited)                                 June 27,     Sept. 27,       2026     2025   ASSETS             Cash and cash equivalents   $ 455,087     $ 366,246   Receivables-net     102,682       106,355   Inventories     479,654       482,979   Other current assets     19,341       19,976   Property and equipment-net     1,501,441       1,515,070   Other assets     75,300       75,429   TOTAL ASSETS   $ 2,633,505     $ 2,566,055               LIABILITIES AND STOCKHOLDERS' EQUITY           Current maturities of long-term debt   $ 17,481     $ 17,477   Accounts payable, accrued expenses and current portion of other long-term liabilities   311,727       285,426   Deferred income taxes     51,743       65,040   Long-term debt     483,046       497,289   Other long-term liabilities     84,716       84,891   Total Liabilities     948,713       950,123   Stockholders' equity     1,684,792       1,615,932   TOTAL LIABILITIES AND             STOCKHOLDERS' EQUITY   $ 2,633,505     $ 2,566,055     View source version on businesswire.com: https://www.businesswire.com/news/home/20260806928066/en/

View stock analysis, news, and events for Ingles Markets, Incorporated