Ingles Markets Files Q3 2024 10-Q Report
Ticker: IMKTA · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 50493
Sentiment: neutral
Topics: 10-Q, quarterly-report, retail
TL;DR
Ingles Markets filed its Q3 2024 10-Q. Check financials.
AI Summary
Ingles Markets Inc. reported its third quarter results for the fiscal year ending September 28, 2024. The company's filing covers the period ending June 29, 2024. Specific financial figures and operational details for this quarter are not detailed in the provided header information, but the filing is a standard quarterly report.
Why It Matters
This filing provides investors with an update on Ingles Markets' financial performance and operational status for the third quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing and does not contain immediate red flags.
Key Numbers
- Q3 2024 — Fiscal Quarter (Reporting period for the 10-Q filing.)
- 2024-06-29 — Report End Date (The specific date through which financial information is reported.)
Key Players & Entities
- INGLES MARKETS INC (company) — Filer
- 0000050493 (company) — Central Index Key
- NC (location) — State of Incorporation
- 20240629 (date) — Period of Report
- 20240808 (date) — Filed as of Date
FAQ
What is the primary business of Ingles Markets Inc.?
Ingles Markets Inc. is primarily involved in the retail grocery store business, as indicated by its Standard Industrial Classification code [5411].
What is the fiscal year end for Ingles Markets Inc.?
The fiscal year end for Ingles Markets Inc. is September 28.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on August 8, 2024.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending June 29, 2024.
In which state is Ingles Markets Inc. incorporated?
Ingles Markets Inc. is incorporated in North Carolina (NC).
Filing Stats: 4,435 words · 18 min read · ~15 pages · Grade level 12.3 · Accepted 2024-08-08 16:15:02
Key Financial Figures
- $0.05 — hich registered Class A Common Stock, $0.05 par value per share IMKTA The NASDA
Filing Documents
- imkt-20240629x10q.htm (10-Q) — 2649KB
- imkt-20240629xex31_1.htm (EX-31.1) — 19KB
- imkt-20240629xex31_2.htm (EX-31.2) — 19KB
- imkt-20240629xex32_1.htm (EX-32.1) — 10KB
- imkt-20240629xex32_2.htm (EX-32.2) — 8KB
- 0000050493-24-000014.txt ( ) — 8443KB
- imkt-20240629.xsd (EX-101.SCH) — 32KB
- imkt-20240629_cal.xml (EX-101.CAL) — 58KB
- imkt-20240629_def.xml (EX-101.DEF) — 130KB
- imkt-20240629_lab.xml (EX-101.LAB) — 286KB
- imkt-20240629_pre.xml (EX-101.PRE) — 239KB
- imkt-20240629x10q_htm.xml (XML) — 1743KB
– Financial Information
Part I – Financial Information
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of June 29, 2024 and September 30, 2023 3 Condensed Consolidated Statements of Income and Comprehensive Income for the Three Months Ended June 29, 2024 and June 24, 2023 4 Nine Months Ended June 29, 2024 and June 24, 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months and Nine Months Ended June 29, 2024 and June 24, 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended June 29, 2024 and June 24, 2023 7 Notes to Condensed Consolidated Unaudited Interim Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 21
Controls and Procedures
Item 4. Controls and Procedures 21
– Other Information
Part II – Other Information
Other Information
Item 5. Other Information 21
Exhibits
Item 6. Exhibits 22
FINANCIAL INFORMATION
Part I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
Item 1. FINANCIAL STATEMENTS INGLES MARKETS, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) June 29, September 30, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 354,758,957 $ 328,539,922 Receivables - net 99,609,900 107,570,690 Inventories 483,546,106 493,859,775 Other current assets 24,797,126 22,585,958 Total Current Assets 962,712,089 952,556,345 Property and Equipment - Net 1,497,177,121 1,431,872,289 Operating lease right of use assets 34,523,548 39,602,202 Other Assets 51,308,801 49,814,897 Total Assets $ 2,545,721,559 $ 2,473,845,733 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Current portion of long-term debt $ 17,520,876 $ 17,526,289 Current portion of operating lease liabilities 6,003,161 7,594,971 Current portion of finance lease liabilities 664,738 635,559 Accounts payable - trade 208,430,681 204,040,546 Accrued expenses and current portion of other long-term liabilities 89,759,055 100,735,784 Total Current Liabilities 322,378,511 330,533,149 Deferred Income Taxes 65,187,000 67,187,000 Long-Term Debt 518,349,281 532,631,960 Noncurrent operating lease liabilities 30,551,086 34,016,670 Noncurrent finance lease liabilities 2,557,674 3,059,938 Other Long-Term Liabilities 52,863,757 47,444,876 Total Liabilities 991,887,309 1,014,873,593 Stockholders' Equity Preferred stock, $ 0.05 par value per share; 10,000,000 shares authorized; no shares issued — — Common stocks: Class A, $ 0.05 par value per share; 150,000,000 shares authorized; 14,544,925 shares issued and outstanding June 29, 2024; 14,497,075 shares issued and outstanding at September 30, 2023 727,246 724,854 Class B, convertible to Class A, $ 0.05 par value per share; 100,000,000 shares authorized; 4,449,451 shares issued and outstanding June 29, 2024; 4,497,301 s