UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 28, 2025 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-14706. INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State or oth ...

Exhibit 99.1 PRESS RELEASE Ingles Markets, Inc. Contact: Pat Jackson, Chief Financial Officer pjackson@ingles-markets.com (828) 669-2941 (Ext. 223) ASHEVILLE, N.C. - Ingles Markets, Incorporated (NASDAQ: IMKTA) today reported results for the three and nine months ended June 28, 2025. August 7, 2025 For Immediate Release Ingles Markets, Incorporated Reports Results for Third Quarter and First Nine Months of Fiscal 2025 Robert P. Ingle II, Chairman of the Board, stated, "We appreciate our associates as they c ...

Back in March of this year, one company that I decided to reaffirm as a ‘strong buy’ candidate was grocery chain Ingles Markets, Incorporated (NASDAQ: IMKTA ) even though the business had been experiencing some weakness leading up toCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash ...

INGLES MARKETS, INCORPORATED UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2025 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-14706. (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State or ot ...

Exhibit 99.1 PRESS RELEASE Ingles Markets, Inc. Contact: Pat Jackson, Chief Financial Officer pjackson@ingles-markets.com (828) 669-2941 (Ext. 223) Second Quarter 2025 Results Net sales totaled $1.33 billion for the quarter ended March 29, 2025, a decrease of 2.7% compared with $1.37 billion for the quarter ended March 30, 2024. Gross profit for the second quarter of fiscal 2025 totaled $311.0 million, or 23.4% of sales. Gross profit for the second quarter of fiscal 2024 was $321.9 million, or 23.5% of sale ...

I am very selective whenever I decide to rate a company a ‘strong buy’. The fact of the matter is that such a rating should only be reserved for the best prospects. And even amongst those, ICrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E&P firms, and live chat d ...

(Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 28, 2024 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-14706. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State or ...

Exhibit 99.1 PRESS RELEASE Ingles Markets, Inc. Contact: Patricia E. Jackson, Chief Financial Officer pjackson@ingles-markets.com (828) 669-2941 (Ext. 223) February 6, 2025 For Immediate Release Ingles Markets, Incorporated Reports Results for the First Quarter of Fiscal 2025 ASHEVILLE, N.C. - Ingles Markets, Incorporated (NASDAQ: IMKTA) today reported results for the three months ended December 28, 2024. Robert P. Ingle II, Chairman of the Board, stated, "As recovery efforts progress in the communities we ...

Ingles Markets, Incorporated (NASDAQ: IMKTA ) got impacted by Hurricane Helene in late September as the company’s store and distribution network is entirely located in the Southeast region. As the company is looking to relatively quickly recover from theI am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revolves around identifying mispriced securities by u ...

Part I [Business](index=5&type=section&id=Item%201.%20Business) Ingles Markets, Incorporated operates 198 supermarkets primarily in the southeastern United States, offering diverse food and non-food products, with recent operations impacted by Hurricane Helene - Operates **198 supermarkets** across six southeastern states: North Carolina (75), Georgia (65), South Carolina (35), Tennessee (21), Virginia (1), and Alabama (1)[77](index=77&type=chunk) - Hurricane Helene in September 2024 resulted in significant financial losses, including a **$30.4 million impairment** for damaged inventory and a **$4.5 million loss** for property and equipment, temporarily closing four stores[26](index=26&type=chunk) Fiscal Year Revenue and Operating Income by Segment (in millions) | Category | FY 2024 Revenue | FY 2023 Revenue | FY 2022 Revenue | FY 2024 Operating Income | FY 2023 Operating Income | FY 2022 Operating Income | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Retail** | $5,421.8 | $5,663.9 | $5,475.7 | $123.0 | $263.2 | $353.0 | | **Other** | $217.8 | $228.9 | $203.1 | $24.2 | $29.1 | $23.9 | | **Total** | **$5,639.6** | **$5,892.8** | **$5,678.8** | **$147.2** | **$292.3** | **$376.9** | - The company's distribution facilities supply approximately **58%** of the goods sold in its supermarkets, with the remaining **42%** sourced from third parties[20](index=20&type=chunk) - As of September 28, 2024, Chairman Robert P. Ingle II beneficially owned approximately **72.5%** of the combined voting power of the company's stock[35](index=35&type=chunk) [Risk Factors](index=11&type=section&id=Item%201A.%20Risk%20Factors) The company faces multiple risks, including geographic concentration, intense competition, inflation, and governance issues due to controlling ownership - The company's operations are geographically concentrated in the Southeastern United States, making it vulnerable to regional events like Hurricane Helene, which severely impacted its North Carolina headquarters and distribution center[60](index=60&type=chunk) - The company faces risks from inflation in food, labor, and fuel prices, with the Consumer Price Index for all items at **2.4%** for the twelve months ended September 28, 2024, down from **3.7%** in the prior year[24](index=24&type=chunk)[2](index=2&type=chunk) - Chairman Robert P. Ingle II's beneficial ownership of approximately **72.5%** of the combined voting power gives him the ability to elect a majority of the board and control stockholder-approved actions[42](index=42&type=chunk) - The supermarket industry is highly competitive, with pressure from traditional and non-traditional competitors, including online retailers, some of whom have greater financial resources[23](index=23&type=chunk) [Unresolved Staff Comments](index=14&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the Securities and Exchange Commission - None[44](index=44&type=chunk) [Cybersecurity](index=14&type=section&id=Item%201C.%20Cybersecurity) The company manages cybersecurity risks using frameworks like NIST CSF and PCI-DSS, overseen by an internal team and the Audit Committee, with no material threats reported to date - The company utilizes the National Institute of Standards and Technology's Cybersecurity Framework (NIST CSF) and Payment Card Industry Data Security Standard (PCI-DSS) to guide its cyber risk management[45](index=45&type=chunk) - An Information Security Team, along with a 24/7 managed detection partner, oversees cybersecurity, with the Audit Committee of the Board of Directors providing oversight of information technology issues[45](index=45&type=chunk) - As of the report date, the company has not encountered cybersecurity threats that have materially affected, or are reasonably likely to materially affect, its business strategy, results of operations, or financial position[45](index=45&type=chunk) [Properties](index=15&type=section&id=Item%202.%20Properties) The company owns a significant portion of its real estate, including 175 supermarkets, 101 shopping centers, and key operational facilities, while leasing 23 supermarket locations - The company owns **175** of its supermarkets, either as free-standing locations or as anchor tenants in company-owned shopping centers, and also owns **29** undeveloped sites[47](index=47&type=chunk) - Key owned facilities include a **1.65 million square foot** headquarters and distribution center near Asheville, NC, and a **140,000 square foot** milk processing plant[17](index=17&type=chunk)[20](index=20&type=chunk) - The company operates supermarkets at **23** locations leased from unaffiliated third parties, with most leases requiring the company to pay property taxes, utilities, and other expenses[17](index=17&type=chunk) [Legal Proceedings](index=15&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various legal proceedings, but management believes the ultimate liability will not materially affect its financial position or operations - In the opinion of management, the ultimate liability from all pending legal proceedings and claims would not materially affect the Company's business, financial condition, results of operations or cash flows[17](index=17&type=chunk) [Mine Safety Disclosures](index=16&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[49](index=49&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=16&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's Class A Common Stock trades on NASDAQ, while Class B is not public, with a history of quarterly dividends and no recent share repurchases - The Company's Class A Common Stock is listed on The NASDAQ Global Select Market (IMKTA), with no public market for the Class B Common Stock[51](index=51&type=chunk) - In fiscal years 2024 and 2023, the company paid annual dividends of **$0.66 per share** of Class A Common Stock and **$0.60 per share** of Class B Common Stock[52](index=52&type=chunk) 5-Year Indexed Returns of Initial $100 Investment | Company/Index | 2020 | 2021 | 2022 | 2023 | 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | Ingles Markets, Inc. | $95.49 | $173.74 | $218.71 | $203.00 | $202.06 | | S&P 500 Index | $115.15 | $149.70 | $126.54 | $153.89 | $209.84 | | Peer Group | $128.12 | $151.81 | $149.57 | $167.31 | $215.67 | [Reserved](index=18&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a significant decline in fiscal 2024 net income to $105.5 million, primarily due to Hurricane Helene's impact, while maintaining strong liquidity and planning future capital expenditures [Results of Operations](index=19&type=section&id=7.1%20Results%20of%20Operations) Fiscal 2024 net income significantly decreased to $105.5 million due to lower sales and the substantial financial impact of Hurricane Helene, including inventory and asset write-offs Fiscal Year 2024 vs. 2023 Key Financials | Metric | Fiscal Year 2024 (52 weeks) | Fiscal Year 2023 (53 weeks) | Change | | :--- | :--- | :--- | :--- | | Net Sales | $5.64 billion | $5.89 billion | -4.2% | | Gross Profit | $1.30 billion | $1.40 billion | -7.5% | | Operating Income | $147.1 million | $292.3 million | -49.7% | | Net Income | $105.5 million | $210.8 million | -50.0% | | Diluted EPS (Class A) | $5.56 | $11.10 | -50.0% | - Hurricane Helene caused an estimated **$14.0 million** in lost sales, a **$30.4 million** inventory loss, and a **$4.5 million** asset impairment write-off in fiscal 2024[99](index=99&type=chunk)[100](index=100&type=chunk) - On a 52-week comparative basis, retail grocery comparable store sales (excluding fuel) decreased **1.7%** in fiscal 2024, with transactions down **0.3%** and average transaction size down **1.4%**[99](index=99&type=chunk) - Operating and administrative expenses increased by **$46.4 million (4.2%)**, primarily due to higher costs for insurance (**$16.9 million**), salaries (**$13.0 million**), and taxes/licenses (**$5.4 million**)[100](index=100&type=chunk)[88](index=88&type=chunk) [Liquidity and Capital Resources](index=22&type=section&id=7.2%20Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with $262.5 million cash from operations, increased capital expenditures to $210.9 million, and plans $120-160 million for fiscal 2025, with an undrawn $150 million credit line - Generated **$262.5 million** of cash from operations in fiscal 2024, compared to **$266.4 million** in fiscal 2023[104](index=104&type=chunk) - Capital expenditures totaled **$210.9 million** in fiscal 2024, an increase from **$173.6 million** in 2023, with plans to invest approximately **$120 million to $160 million** in fiscal 2025[120](index=120&type=chunk) - As of September 28, 2024, the company had no borrowings outstanding under its **$150.0 million** line of credit and was in compliance with all debt covenants[105](index=105&type=chunk) - The company has paid regular quarterly cash dividends since 1993, totaling **$0.66 per Class A share** annually in fiscal 2024[106](index=106&type=chunk) [Quantitative and Qualitative Disclosures About Market Risks](index=24&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risks) The company manages interest rate risk through a mix of fixed and variable-rate debt, utilizing interest rate swaps to hedge a portion of its variable-rate obligations - The company is exposed to interest rate risk from its borrowing activities, with **$350.0 million** Senior Notes at a fixed rate and other debt, including Recovery Zone Bonds and bank loans, at variable rates[109](index=109&type=chunk) Debt Obligations by Maturity at Sep 28, 2024 (in thousands) | Debt Type | 2025 | 2026 | 2027 | 2028 | 2029 | Thereafter | Total | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Variable Rate Debt | $13,750 | $13,750 | $13,750 | $8,237 | $7,750 | $80,083 | $137,320 | | Recovery Zone Bonds | $4,530 | $4,530 | $4,530 | $4,530 | $4,530 | $27,260 | $49,910 | | Fixed Rate Senior Notes | $0 | $0 | $0 | $0 | $0 | $350,000 | $350,000 | - The company uses two interest rate swap agreements to effectively fix the interest rates on **$18.5 million** and **$116.9 million** of its variable-rate debt[110](index=110&type=chunk)[105](index=105&type=chunk) [Financial Statements and Supplementary Data](index=25&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section includes the company's audited consolidated financial statements, notes, and the independent auditor's unqualified report on both financial statements and internal controls [Report of Independent Registered Public Accounting Firm](index=30&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) Deloitte & Touche LLP issued an unqualified opinion on the financial statements and internal controls, highlighting vendor allowances and Hurricane Helene inventory impairment as critical audit matters - The auditor issued an unqualified opinion on the financial statements and the effectiveness of internal control over financial reporting[152](index=152&type=chunk)[210](index=210&type=chunk) - Critical Audit Matters identified were: 1) Vendor Allowances, due to the number and diversity of agreements, and 2) Inventory impairment loss from Hurricane Helene, due to the number of locations impacted[155](index=155&type=chunk)[208](index=208&type=chunk) [Consolidated Financial Statements](index=33&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements show total assets of $2.53 billion, increased stockholders' equity, and a net income of $105.5 million for fiscal 2024, with cash and cash equivalents rising by $25.1 million Consolidated Balance Sheet Data (in thousands) | Account | Sep 28, 2024 | Sep 30, 2023 | | :--- | :--- | :--- | | Total Current Assets | $925,548 | $952,556 | | Total Assets | $2,527,883 | $2,473,846 | | Total Current Liabilities | $320,622 | $330,533 | | Total Liabilities | $982,134 | $1,014,874 | | Total Stockholders' Equity | $1,545,749 | $1,458,972 | Consolidated Statement of Income Data (in thousands) | Account | FY 2024 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | | Net Sales | $5,639,609 | $5,892,782 | $5,678,835 | | Gross Profit | $1,299,835 | $1,404,915 | $1,415,768 | | Income from Operations | $147,144 | $292,304 | $376,933 | | Net Income | $105,541 | $210,812 | $272,759 | Consolidated Statement of Cash Flows Data (in thousands) | Account | FY 2024 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | | Net Cash from Operating Activities | $262,517 | $266,411 | $339,498 | | Net Cash from Investing Activities | ($206,185) | ($170,096) | ($111,990) | | Net Cash from Financing Activities | ($31,184) | ($34,974) | ($30,623) | | Net Increase in Cash | $25,148 | $61,341 | $196,885 | [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=25&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants regarding accounting principles or financial disclosure - None[111](index=111&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of September 28, 2024, with no material changes during the last quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of September 28, 2024[127](index=127&type=chunk) - Management concluded that the company maintained effective internal control over financial reporting as of September 28, 2024, based on the COSO framework[163](index=163&type=chunk) - There were no changes in internal control over financial reporting during the fourth fiscal quarter that have materially affected, or are reasonably likely to materially affect, these controls[164](index=164&type=chunk) [Other Information](index=26&type=section&id=Item%209B.%20Other%20Information) No officers or directors adopted or terminated Rule 10b5-1 trading plans or other trading arrangements during the fourth quarter - No officers or directors adopted or terminated any Rule 10b5-1 trading arrangement during the three-month period ended September 28, 2024[165](index=165&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=26&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - Not applicable[165](index=165&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=26&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information for this item is incorporated by reference from the company's definitive Proxy Statement for the 2025 annual stockholders' meeting - Information required by this item is incorporated by reference from the company's definitive Proxy Statement for its 2025 annual meeting of stockholders[138](index=138&type=chunk) [Executive Compensation](index=27&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the company's definitive Proxy Statement - Information required by this item is incorporated by reference from the company's definitive Proxy Statement[141](index=141&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=27&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership is incorporated by reference from the company's definitive Proxy Statement - Information required by this item is incorporated by reference from the company's definitive Proxy Statement[141](index=141&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=27&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information regarding certain relationships, related transactions, and director independence is incorporated by reference from the company's definitive Proxy Statement - Information required by this item is incorporated by reference from the company's definitive Proxy Statement[141](index=141&type=chunk)[168](index=168&type=chunk) [Principal Accountant Fees and Services](index=27&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the company's definitive Proxy Statement - Information required by this item is incorporated by reference from the company's definitive Proxy Statement[141](index=141&type=chunk)[168](index=168&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=27&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all documents filed with the Form 10-K, including financial statements, various agreements, and required certifications - Lists all financial statements, schedules, and exhibits filed with the Form 10-K, including certifications by the CEO and CFO pursuant to the Sarbanes-Oxley Act[169](index=169&type=chunk)[131](index=131&type=chunk)[148](index=148&type=chunk) [Form 10-K Summary](index=29&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company has not provided a summary under this optional item - None[151](index=151&type=chunk)