Ingles Markets reports third quarter sales growth to $1.37 billion
The grocery retailer saw nine-month net income rise to $78.3 million from $57.9 million in the prior-year period.
Ingles Markets (IMKTA) reported third quarter net sales of $1.37 billion, up from $1.35 billion in the prior-year quarter. The supermarket chain saw a rise in top-line revenue despite operational disruptions caused by severe weather.
Nine-month net income grew to $78.3 million compared with $57.9 million in the prior-year period. This growth in profitability coincided with an expansion in the nine-month gross profit margin, which rose to 24.5% from 23.7%.
For the third quarter specifically, gross profit margin held steady at 24.3% compared to the same period in fiscal 2025. Operating and administrative expenses for the quarter increased to $298.0 million from $290.1 million.
Operational headwinds persisted as three of four stores damaged by Hurricane Helene remained closed as of June 27, 2026. The company expects these locations to reopen across 2026 and 2027.
Capital expenditures for the nine-month period declined to $76.4 million from $91.4 million in the prior-year period. Ingles Markets guides fiscal year 2026 capital expenditures at approximately $120 million to $130 million.
Total debt decreased to $500.5 million as of June 27, 2026, down from $518.0 million as of June 28, 2025.