IMKTA

Ingles Markets Dividend Announcement: Ingles Markets declared cash dividends of $0.165 per share for Class A Common Stock and $0.15 for Class B Common Stock, payable on April 17, 2025, to shareholders recorded by April 10, 2025.

Other Companies' Dividend Declarations: NewtekOne announced a quarterly dividend of $0.19 per share, RGC Resources declared $0.2075 per share, and Global Water Resources set a monthly dividend of $0.02533 per share, all with specific payment dates in April and May 2025.

Dividend Announcement: Ingles Markets, Incorporated has declared a cash dividend of $0.165 per share for Class A Common Stock and $0.15 per share for Class B Common Stock, payable on April 17, 2025, to shareholders of record on April 10, 2025.

Company Overview: Ingles Markets operates 197 supermarkets across six southeastern states and is headquartered in Asheville, North Carolina, also managing neighborhood shopping centers and a fluid dairy facility.

Financial Performance: Ingles Markets reported a FQ1 GAAP EPS of $0.87 with revenue of $1.29 billion, reflecting a 12.8% year-over-year decline.

Impact of Hurricane Helene: The effects of Hurricane Helene on Ingles Markets are diminishing, as indicated by a previous GAAP EPS of -$0.08 and revenue of $1.4 billion.

Financial Performance Overview: Ingles Markets reported a 13% decrease in net sales for the first quarter of fiscal 2025, totaling $1.29 billion, with net income dropping to $16.6 million compared to $43.4 million in the same quarter the previous year, largely impacted by Hurricane Helene.

Hurricane Helene Impact: The company faced significant disruptions due to Hurricane Helene, resulting in an estimated revenue loss of $55 to $65 million and incurring approximately $5.4 million in cleanup and repair costs, with three stores still closed and expected to reopen in 2025.

Global Water Resources Dividend Announcement: Global Water Resources has declared a monthly cash dividend of $0.02533 per share, payable on January 31, 2025, to shareholders recorded by January 17, 2025.

Calavo Growers and Ingles Markets Dividends: Calavo Growers announced a quarterly cash dividend of $0.20 per share, while Ingles Markets declared dividends of $0.165 for Class A and $0.15 for Class B shares, both payable in January 2025 to respective shareholders of record.

Dividend Announcement: Ingles Markets, Incorporated has declared a cash dividend of $0.165 per share for Class A Common Stock and $0.15 per share for Class B Common Stock, payable on January 16, 2025, to shareholders of record on January 9, 2025.

Company Overview: Ingles Markets operates 198 supermarkets across six southeastern states and also runs neighborhood shopping centers and a fluid dairy facility that supplies its stores and other customers.

U.S. Stock Market Trends: U.S. stock futures are down, with the Dow futures dropping over 50 points; several companies, including Axsome Therapeutics and Intchains Group, saw significant pre-market declines in their share prices.

Notable Stock Movements: Axsome Therapeutics shares fell 8.9% after Phase 3 clinical results for AXS-05, while other stocks like MRC Global and Tesla also experienced notable decreases ahead of upcoming earnings reports and program changes.

Earnings Report Overview: Ingles Markets Inc reported a challenging Q4 and fiscal year 2024, with net sales declining to $1.40 billion from $1.58 billion due to Hurricane Helene's impact, resulting in a net loss of $1.5 million compared to a profit of $52.6 million last year.

Financial Stability and Future Outlook: Despite recent losses, Ingles Markets maintains financial stability with access to a $150 million line of credit and remains optimistic about leveraging resources for growth opportunities moving forward.

Stock News Highlights: Netflix reported that its Christmas NFL games averaged over 24 million viewers, while BeiGene received FDA approval for a new drug combination. Other notable news includes HomeStreet's $990M loan sale to Bank of America and BioNTech's settlement with NIH.

Market Movements and Analyst Calls: ServiceTitan received a bullish rating from Baird, while Tencent Music was upgraded to Buy by 86 Research. In contrast, Viracta Therapeutics and Galectin Therapeutics faced downgrades due to trial failures and other concerns.

U.S. Stock Market Trends: U.S. stock futures are down, with Dow futures dropping over 100 points; several companies, including Ingles Markets and Viemed Healthcare, reported declines in pre-market trading.

Notable Stock Movements: Ingles Markets saw a 1.2% decrease in shares after reporting lower net sales, while other stocks like Evotec SE and Tesla also experienced notable declines in pre-market trading.

Financial Impact of Hurricane Helene: Ingles Markets reported a net loss of $1.5 million for the fourth quarter of fiscal 2024, largely due to a $30.4 million impairment loss from inventory damage caused by Hurricane Helene, which also affected their overall sales and profits compared to the previous year.

Annual Performance Overview: For the fiscal year ending September 28, 2024, Ingles Markets saw a decline in net sales to $5.64 billion and a significant drop in net income to $105.5 million, down from $210.8 million the previous year, while capital expenditures increased to $210.9 million.

Company Compliance Issue: Ingles Markets, Incorporated has received a notice from Nasdaq for failing to file its Annual Report on Form 10-K due to the impact of Hurricane Helene, which puts it out of compliance with Nasdaq Listing Rule 5250(c)(1). The company has until February 18, 2025, to either file the report or submit a Compliance Plan.

Future Plans: Ingles Markets intends to file the Annual Report within the 60-day period and may receive an extension of up to 180 days if Nasdaq accepts their Compliance Plan.

Ingles Markets Filing Delay: Ingles Markets received a notice from Nasdaq regarding a delay in filing its Annual Report due to Hurricane Helene, but this does not affect its current stock listing. The company has until February 18, 2025, to comply with Nasdaq's requirements.

Company Overview: Ingles Markets operates 198 supermarkets across six southeastern states and has a market cap of $1.22 billion, with a year-to-date price performance decline of 23.43%.

Store Operations Post-Hurricane: Ingles Markets reported that 194 out of 198 stores are operational following Hurricane Helene, with four stores temporarily closed due to damage. The distribution center has resumed normal operations.

Financial Impact and Community Support: The estimated financial loss from the hurricane is between $35 and $55 million, with expected insurance reimbursement of $10 to $15 million. The company expresses solidarity with affected communities and highlights the efforts of its associates in supporting local needs.

Upcoming Ex-Dividend Dates: Ingles Markets Inc, Darden Restaurants, and Toronto Dominion Bank will trade ex-dividend on 10/10/24, with respective dividends of $0.165, $1.40, and $1.02 scheduled for payment on 10/17/24, 11/1/24, and 10/31/24.

Market Impact and Historical Yields: Following the ex-dividend dates, shares are expected to open lower by approximately 0.27%, 0.88%, and 1.60% for IMKTA, DRI, and TD respectively; current estimated annualized yields are 1.08%, 3.51%, and 6.39%.

Impact of Hurricane Helene: Ingles Markets has reported significant disruptions to its operations due to Hurricane Helene, with 186 out of 198 stores currently open but facing transaction limitations due to connectivity issues. The company expresses sympathy for those affected by the hurricane's flooding and property damage.

Forward-Looking Statements: The press release includes cautionary notes about forward-looking statements regarding the company's financial and operational expectations, highlighting various risks such as economic conditions, labor shortages, and impacts from natural disasters that could affect actual results.

Hims & Hers Health Inc Options Trading: Hims & Hers Health Inc (HIMS) experienced a significant options trading volume of 79,486 contracts, with notable activity in the $13 strike put option expiring January 17, 2025.

Bristol Myers Squibb Co Options Trading: Bristol Myers Squibb Co (BMY) also saw high options trading volume of 138,481 contracts, particularly for the $42 strike call option expiring October 18, 2024.

Dividend Announcement: Ingles Markets, Incorporated declared a cash dividend of $0.165 per share for Class A Common Stock and $0.15 for Class B Common Stock, payable on October 17, 2024, to shareholders of record on October 10, 2024.

Company Overview: Ingles Markets operates 198 supermarkets across six southeastern states and also manages neighborhood shopping centers and a fluid dairy facility.

Third Quarter Financial Results: Ingles Markets reported a net sales decrease to $1.39 billion for Q3 2024, with net income dropping to $31.7 million compared to $48.3 million in Q3 2023, reflecting challenges in operating expenses and profitability.

Nine Month Performance Overview: For the nine months ending June 29, 2024, net sales were $4.24 billion, down from $4.31 billion in the previous year, with net income also declining to $107 million from $158.2 million, indicating ongoing financial pressures.

Changing Food Trends: American food consumption has significantly evolved over the past 50 years, influenced by immigration, health concerns, and a wider selection of foods, leading to the rise of companies like Whole Foods Market, Chipotle, and Sweetgreen.

Whole Foods and Amazon: John Mackey's Whole Foods, which was sold to Amazon in 2017, has adapted under its new ownership, allowing for price reductions and technological advancements, while Mackey has since pursued a new venture focused on holistic wellness.