Ingles Markets Reports Strong Q1 Growth

Written by Emily J. Thompson, Senior Investment Analyst

Source: Newsfilter

Updated: Feb 05 2026

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Source: Newsfilter

Sales Growth: For the first quarter of fiscal 2026, Ingles Markets reported net sales of $1.37 billion, a 6.6% increase from $1.29 billion in the same quarter last year, indicating strong performance during the holiday season and reinforcing its market position.
Gross Margin Improvement: The gross profit for the first quarter reached $334.6 million, representing 24.4% of sales, up from 23.4% in the prior year, demonstrating the company's success in cost control and pricing strategies.
Significant Net Income Increase: Net income for the first quarter of fiscal 2026 was $28.1 million, a substantial rise from $16.6 million in the same quarter last year, with basic earnings per share increasing from $0.89 to $1.51, reflecting a marked improvement in profitability.
Stable Capital Expenditures: Capital expenditures for the first quarter totaled $36.4 million, slightly down from $37.8 million last year, indicating a cautious approach to expansion and investment while maintaining strong financial health.

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About IMKTA

Ingles Markets, Incorporated is a grocer with operations in six southeastern states. The Company, in conjunction with its supermarket operations, operates neighborhood shopping centers, most of which contain an Ingles supermarket. The Company also owns a fluid dairy facility that supplies its supermarkets and unaffiliated customers. Its supermarkets offer customers a variety of nationally advertised food products, including grocery, meat and dairy products, produce, frozen foods and other perishables, and non-food products. Its non-food products include fuel centers, pharmacies, health and beauty care products, and general merchandise. The Company also offers private label items, organic and locally sourced items throughout its market areas. The Company operates a total of approximately 198 supermarkets in North Carolina (75), Georgia (65), South Carolina (35), Tennessee (21), Virginia (1) and Alabama (1). It operates approximately 115 in-store pharmacies and 108 fuel stations.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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