Overview

* Ingles Markets ( IMKTA ) fiscal Q3 net sales fall to $1.35 bln from $1.39 bln

* Net income for fiscal Q3 declines to $26.2 mln from $31.7 mln

* Gross profit margin improves to 24.3% from 23.7% despite sales decline

Outlook

* Company expects fiscal year 2025 capital expenditures of $120 mln to $160 mln

* Ingles Markets ( IMKTA ) anticipates reopening hurricane-damaged stores by late 2025 or 2026

* Company believes financial resources sufficient for future capital expenditures

Result Drivers

* SALES DECLINE - Net sales decreased to $1.35 bln from $1.39 bln, but company provided no specific reasons

* GROSS PROFIT MARGIN - Gross profit margin improved to 24.3% from 23.7%, indicating better cost management

* HURRICANE IMPACT - Three stores remain closed due to Hurricane Helene, potentially affecting sales

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales $1.35

bln

Q3 EPS $1.38

Q3 Net $26.20

Income mln

Q3 Gross $327.33

Profit mln

Q3 $37.34

Operatin mln

g Income

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)