Welcome to our dedicated page for Ingles Mkts news (Ticker: IMKTA), a resource for investors and traders seeking the latest updates and insights on Ingles Mkts stock.
Ingles Markets Inc (IMKTA), a leading southeastern U.S. supermarket chain, maintains this dedicated news hub for investors and stakeholders. Access timely updates on financial performance, operational developments, and community initiatives from this vertically integrated retailer.
This resource consolidates all essential announcements including quarterly earnings, strategic partnerships, and leadership updates. Investors gain direct access to primary sources while analysts benefit from centralized tracking of IMKTA's market position in the competitive grocery sector.
Key content categories include financial disclosures, store expansion notices, sustainability initiatives, and supplier network updates. The collection emphasizes IMKTA's dual focus on retail innovation and community engagement across its six-state operational footprint.
Bookmark this page for streamlined monitoring of Ingles Markets' developments. Combine these verified updates with broader market analysis to inform your perspective on this established regional retailer.
Ingles Markets (NASDAQ: IMKTA) reported results for Q3 and first nine months of fiscal 2024. Net sales for Q3 totaled $1.39 billion, down from $1.43 billion in Q3 2023. Gross profit was $329.8 million (23.7% of sales) compared to $338.1 million (23.6% of sales) last year. Net income decreased to $31.7 million from $48.3 million. For the nine-month period, net sales were $4.24 billion, down from $4.31 billion. Net income fell to $107.0 million from $158.2 million.
Earnings per share for Class A Common Stock were $1.71 (basic) and $1.67 (diluted) for Q3, down from $2.60 and $2.54 respectively. Capital expenditures for the nine-month period were $143.0 million, with full-year 2024 expected to be $170-190 million. The company operates 198 supermarkets across six southeastern states.
Ingles Markets announced a quarterly cash dividend for its Class A and Class B Common Stock. Shareholders will receive $0.165 per share for Class A and $0.15 per share for Class B, translating to an annual rate of $0.66 and $0.60 respectively. The dividends are payable on July 18, 2024, to shareholders recorded by July 11, 2024. Ingles Markets operates 198 supermarkets across six southeastern states and owns a fluid dairy facility. This announcement highlights the company's ongoing commitment to returning value to its shareholders.
Ingles Markets, Incorporated reported net sales of $1.37 billion for the second quarter of fiscal 2024, with a decrease in sales compared to the previous year. The company's gross profit, operating expenses, interest expenses, and net income also saw changes. Additionally, for the first half of fiscal 2024, net sales were $2.85 billion, showing a slight decrease from the previous year. The company's financial results for the quarter and six-month period display a mixed performance.
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