The 10-second takeaway
For the quarter ended Dec. 29 (Q1), Ingles Markets met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share grew.
Gross margins grew, operating margins grew, net margins were steady.
Ingles Markets logged revenue of $932.8 million. The two analysts polled by S&P Capital IQ expected a top line of $943.0 million on the same basis. GAAP reported sales were 1.6% higher than the prior-year quarter's $918.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.48. The one earnings estimate compiled by S&P Capital IQ anticipated $0.34 per share. GAAP EPS of $0.48 for Q1 were 12% higher than the prior-year quarter's $0.43 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 22.3%, 30 basis points better than the prior-year quarter. Operating margin was 3.6%, 30 basis points better than the prior-year quarter. Net margin was 1.2%, about the same as the prior-year quarter.
Next quarter's average estimate for revenue is $899.6 million. On the bottom line, the average EPS estimate is $0.27.
Next year's average estimate for revenue is $3.74 billion. The average EPS estimate is $1.77.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 94 members out of 102 rating the stock outperform, and eight members rating it underperform. Among 36 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 34 give Ingles Markets a green thumbs-up, and two give it a red thumbs-down.
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