IMKTA FY 2023 Earnings Report — Ingles Markets, Incorporated Revenue & Financial Results | Market Cap Arena

Ingles Markets, IncorporatedIMKTA

FY 2023 Earnings

Reported November 29, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$5.9B	—	$5.7B	—	3.8%
Op. Income	$292M	—	$377M	—	-22.5%
Gross Margin	23.8%	—	24.9%	—	-1.1pp
Net Margin	3.6%	—	4.8%	—	-1.2pp
EPS (Diluted)	$11.10	—	$14.36	—	-22.7%
Free Cash Flow	$93M	—	$220M	—	-57.8%

Revenue Flow

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$4.5B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$1.1B
Operating Expenses	$1.1B
Cost & Expenses	$5.6B
OPERATING INCOME	$292M
Interest Income	$0
Interest Expense	$22M
Other Income/Expenses	-$14M
INCOME BEFORE TAX	$279M
Income Tax Expense	$68M
Net Income from Continuing Ops	$211M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$211M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$211M
D&A	$116M
EBIT	$301M
EBITDA	$417M
EPS	$11
EPS Diluted	$11

Income Statement

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$4.5B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$1.1B
Operating Expenses	$1.1B
Cost & Expenses	$5.6B
OPERATING INCOME	$292M
Interest Income	$0
Interest Expense	$22M
Other Income/Expenses	-$14M
INCOME BEFORE TAX	$279M
Income Tax Expense	$68M
Net Income from Continuing Ops	$211M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$211M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$211M
D&A	$116M
EBIT	$301M
EBITDA	$417M
EPS	$11
EPS Diluted	$11

Cash Flow Statement

Item	Amount
Net Income	$211M
Depreciation & Amortization	$116M
Stock-Based Compensation	$0
Deferred Income Tax	-$7M
Other Non-Cash Items	$5M
Change in Working Capital	-$59M
OPERATING CASH FLOW	$266M
Capital Expenditure	-$174M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$170M
Net Debt Issuance	-$23M
Common Stock Repurchased	$0
Common Dividends Paid	-$12M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$35M
FREE CASH FLOW	$93M
Net Change in Cash	$61M

Balance Sheet

Item	Amount
Cash & Equivalents	$329M
Short-Term Investments	$0
Net Receivables	$108M
Inventory	$494M
Other Current Assets	$23M
TOTAL CURRENT ASSETS	$953M
PP&E (Net)	$1.5B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$50M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$2.5B
Account Payables	$204M
Short-Term Debt	$18M
Deferred Revenue	$0
Other Current Liabilities	$15M
TOTAL CURRENT LIABILITIES	$331M
Long-Term Debt	$533M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$67M
Other Non-Current Liabilities	$47M
TOTAL NON-CURRENT LIABILITIES	$684M
TOTAL LIABILITIES	$1.0B
Common Stock	$949.7K
Additional Paid-In Capital	$0
Retained Earnings	$1.4B
Treasury Stock	$0
Accum. Other Comp. Income	$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$2.5B
Total Debt	$595M
Net Debt	$267M