Quarterly ResultMay 7, 2026, 04:30 PM
Ingles Markets Q2 Net Income +60.7% to $24.3M; Class A EPS $1.28
AI Summary
Ingles Markets reported a significant increase in net income for both the second fiscal quarter and the first six months ended March 28, 2026. Quarterly net income rose 60.7% to $24.3 million, with diluted EPS for Class A common stock increasing to $1.28. For the six-month period, net income grew 65.3% to $52.4 million, and diluted EPS for Class A common stock reached $2.76. The company also saw a substantial increase in net cash provided by operating activities for the six months.
Key Highlights
- Net income for the three months ended March 28, 2026, increased 60.7% to $24.3 million from $15.1 million year-over-year.
- Class A diluted EPS for the quarter rose 60.0% to $1.28, up from $0.80 in the prior year period.
- Net sales for the quarter decreased 1.8% to $1.31 billion from $1.33 billion year-over-year.
- For the six months ended March 28, 2026, net income increased 65.3% to $52.4 million from $31.7 million year-over-year.
- Class A diluted EPS for the six months increased 65.7% to $2.76 from $1.67 year-over-year.
- Net cash provided by operating activities for the six months surged to $122.2 million from $19.4 million.
- Quarterly cash dividends were maintained at $0.165 per Class A share and $0.150 per Class B share.
- Six-month grocery revenue grew to $992.0 million and perishables revenue to $713.3 million.
Price Impact
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