Ingles Markets Incorporated Class A Common Stock Down 0.35% To $97.30 After Earnings

Ingles Markets Incorporated Class A Common Stock (IMKTA) said before open Wednesday that it earned $3.69 per share in quarter four 2022. The company reported $1.5 billion in revenue

In the same quarter a year ago, the company earned $3.78 per share on revenue of $1.3 billion.

The stock is down 0.35% to $97.30 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Trading in the five days leading up to the report earned Ingles Markets Incorporated Class A Common Stock a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 54.

Ingles Markets Inc is a U.S. based company that is principally engaged in operating a supermarket chain. The company operates the business in the southeast United States, mainly in Georgia, North Carolina, South Carolina, and Tennessee, with a few stores in Virginia and Alabama as well. The company locates its stores primarily in suburban areas, small towns, and neighborhood areas. It offers a broad range of goods, including food products, pharmacies, health and beauty-care products, and general merchandise. The retail business contributes most of the company's revenue. The company's real estate ownership on a material portion of total stores enables it to generate rental income.