Ingles Markets Q1 2025 Financials Filed
Ticker: IMKTA · Form: 10-Q · Filed: Feb 6, 2025 · CIK: 50493
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: IMKT
TL;DR
INGLES MARKETS (IMKT) FILED ITS Q1 2025 10-Q. BALANCE SHEET AND STOCK DETAILS UPDATED.
AI Summary
Ingles Markets Inc. reported its first quarter results for fiscal year 2025, ending December 28, 2024. The company's financial statements include details on retained earnings and accumulated other comprehensive income for various periods, with the most recent balance sheet data as of December 28, 2024. The filing also details common stock information, including Class A and Class B shares.
Why It Matters
This 10-Q filing provides investors with the latest financial performance and position of Ingles Markets Inc., crucial for understanding the company's health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024-12-28 — Q1 2025 End Date (Latest balance sheet reporting date)
- 2025-02-06 — Filing Date (Date the 10-Q was submitted to the SEC)
Key Players & Entities
- Ingles Markets Inc. (company) — Filer of the 10-Q report
- 2024-12-28 (date) — End date of the reported fiscal quarter
- 2025-02-06 (date) — Date the filing was made
- NC (location) — State of incorporation for Ingles Markets Inc.
FAQ
What is the reported period for this 10-Q filing?
The Conformed Period of Report is 20241228, indicating the quarter ending December 28, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was made on 2025-02-06.
What is the state of incorporation for Ingles Markets Inc.?
Ingles Markets Inc. is incorporated in North Carolina (NC).
What specific financial statement items are mentioned with dates in the filing header?
The filing header mentions Retained Earnings and Accumulated Other Comprehensive Income for dates including 2024-12-28, 2024-09-28, 2023-12-30, and 2023-09-30.
What types of common stock are detailed in the filing header?
The filing header details Common Class B Member and Common Class A Member, both under the Common Stock Member.
Filing Stats: 4,437 words · 18 min read · ~15 pages · Grade level 12.5 · Accepted 2025-02-06 16:15:08
Key Financial Figures
- $0.05 — hich registered Class A Common Stock, $0.05 par value per share IMKTA The NASDA
Filing Documents
- imkt-20241228x10q.htm (10-Q) — 1775KB
- imkt-20241228xex31_1.htm (EX-31.1) — 19KB
- imkt-20241228xex31_2.htm (EX-31.2) — 19KB
- imkt-20241228xex32_1.htm (EX-32.1) — 10KB
- imkt-20241228xex32_2.htm (EX-32.2) — 8KB
- 0000050493-25-000005.txt ( ) — 6507KB
- imkt-20241228.xsd (EX-101.SCH) — 31KB
- imkt-20241228_cal.xml (EX-101.CAL) — 58KB
- imkt-20241228_def.xml (EX-101.DEF) — 123KB
- imkt-20241228_lab.xml (EX-101.LAB) — 276KB
- imkt-20241228_pre.xml (EX-101.PRE) — 231KB
- imkt-20241228x10q_htm.xml (XML) — 1227KB
– Financial Information
Part I – Financial Information
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of December 28, 2024 and September 28, 2024 3 Condensed Consolidated Statements of Income and Comprehensive Income for the Three Months Ended December 28, 2024 and December 30, 2023 4 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended December 28, 2024 and December 30, 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 28, 2024 and December 30, 2023 6 Notes to Unaudited Interim Financial Statements 7
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 13
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 19
Controls and Procedures
Item 4. Controls and Procedures 19
– Other Information
Part II – Other Information
Other Information
Item 5. Other Information 20
Exhibits
Item 6. Exhibits 20
FINANCIAL INFORMATION
Part I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
Item 1. FINANCIAL STATEMENTS INGLES MARKETS, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) December 28, September 28, 2024 2024 ASSETS Current Assets: Cash and cash equivalents $ 269,509,759 $ 353,687,911 Receivables - net 104,710,234 78,266,383 Inventories 490,792,120 462,084,658 Other current assets 25,012,612 31,508,803 Total Current Assets 890,024,725 925,547,755 Property and Equipment - Net 1,526,528,312 1,526,708,462 Operating lease right of use assets 24,789,095 27,247,555 Other Assets 51,929,884 48,378,943 Total Assets $ 2,493,272,016 $ 2,527,882,715 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Current portion of long-term debt $ 17,520,876 $ 17,520,876 Current portion of operating lease liabilities 4,809,453 4,995,837 Current portion of finance lease liabilities 684,931 674,759 Accounts payable - trade 182,758,478 198,329,197 Accrued expenses and current portion of other long-term liabilities 68,760,557 99,101,275 Total Current Liabilities 274,534,295 320,621,944 Deferred Income Taxes 64,056,000 63,767,000 Long-Term Debt 511,852,130 515,101,562 Noncurrent operating lease liabilities 21,341,325 24,276,818 Noncurrent operating finance liabilities 2,210,084 2,385,179 Other Long-Term Liabilities 57,670,346 55,981,122 Total Liabilities 931,664,180 982,133,625 Stockholders' Equity Preferred stock, $ 0.05 par value; 10,000,000 shares authorized; no shares issued — — Common stocks: Class A, $ 0.05 par value; 150,000,000 shares authorized; 14,545,750 shares issued and outstanding December 28, 2024; 14,544,925 shares issued and outstanding at September 28, 2024 727,288 727,247 Class B, convertible to Class A, $ 0.05 par value; 100,000,000 shares authorized; 4,448,626 shares issued and outstanding December 28, 2024; 4,449,451 shares issued and