Quarterly ResultMay 7, 2026, 07:37 AM
Ingles Markets Q2 Net Income Jumps to $24.3M; EPS $1.28
AI Summary
Ingles Markets, Incorporated reported strong financial results for its second quarter and first six months of fiscal 2026. For the second quarter, net income significantly increased to $24.3 million, with diluted EPS rising to $1.28, despite a slight 1.8% decrease in net sales to $1.31 billion. The first half of fiscal 2026 also saw substantial growth, with net income climbing to $52.4 million and diluted EPS reaching $2.76 on a 2.4% increase in net sales to $2.68 billion. The company's Chairman expressed satisfaction with the results, attributing them to associate commitment.
Key Highlights
- Second quarter net income increased to $24.3 million from $15.1 million year-over-year.
- Second quarter diluted EPS for Class A Common Stock rose to $1.28 from $0.80 year-over-year.
- Second quarter net sales decreased 1.8% to $1.31 billion.
- First half net income increased to $52.4 million from $31.7 million year-over-year.
- First half diluted EPS for Class A Common Stock rose to $2.76 from $1.67 year-over-year.
- First half net sales increased 2.4% to $2.68 billion.
- Gross profit as a percentage of sales improved to 24.9% for Q2 and 24.6% for the first half.
- Total debt as of March 28, 2026, was $503.8 million, down from $521.6 million.