Weis Markets Inc 10-Q for FY2026 Q1

Weis Markets Inc (WMK)

10-Q 2026-05-07 For: 2026-03-28

Added on May 07, 2026

About this 10-Q

Weis Markets Inc filed this 10-Q on May 7, 2026, covering the quarter ended March 28, 2026 (FY2026 Q1).

Headline figures

Quarter ended March 28, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1.26B; up 4.6% from $1.2B a year earlier
Net income: $27.85M; up 42.5% from net income of $19.55M a year earlier
Diluted EPS: $1.13; up 54.8% from $0.73 a year earlier

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Pennsylvania		24-0755415
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

1000 S. Second Street
P. O. Box 471		17801-0471
Sunbury, Pennsylvania		(Zip Code)
(Address of principal executive offices)


Large accelerated filer [X]		Accelerated filer [ ]
Non-accelerated filer [ ]		Smaller reporting company [ ]
		Emerging growth company [ ]


Title of each class	Trading symbol	Name of exchange on which registered
Common stock, no par value	WMK	New York Stock Exchange


FORM 10-Q		Page
Part I. Financial Information
Item 1. Financial Statements
Condensed Consolidated Balance Sheets		1
Condensed Consolidated Statements of Income		2
Condensed Consolidated Statements of Comprehensive Income		3
Condensed Consolidated Statements of Shareholders’ Equity		4
Condensed Consolidated Statements of Cash Flows		5
Notes to Condensed Consolidated Financial Statements		6
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		11
Item 3. Quantitative and Qualitative Disclosures about Market Risk		17
Item 4. Controls and Procedures		17
Part II. Other Information
Item 5. Other Information		19
Item 6. Exhibits		19
Signatures		20
Exhibit 31.1 Rule 13a-14(a) Certification – CEO
Exhibit 31.2 Rule 13a-14(a) Certification – CFO
Exhibit 32 Certification Pursuant to 18 U.S.C. Section 1350


(amounts in thousands, except shares)	* *	March 28, 2026			December 27, 2025
Assets
Current:
Cash and cash equivalents		$	97,718		$	117,091
Marketable securities			101,123			97,091
SERP investment			32,058			33,391
Accounts receivable, net			98,183			95,416
Inventories			298,680			287,532
Federal income taxes recoverable			1,250			6,094
State income taxes recoverable			—			530
Prepaid expenses and other current assets			45,566			44,090
Total current assets			674,578			681,235
Property and equipment, net			1,095,146			1,089,945
Operating lease right-to-use			166,712			165,070
Goodwill			65,691			65,691
Intangible and other assets, net			24,741			25,418
Total assets		$	2,026,868		$	2,027,359

Liabilities
Current:
Accounts payable		$	237,467		$	237,371
Accrued expenses			25,661			41,458
Operating leases			39,673			39,640
Accrued self-insurance			16,307			20,186
Deferred revenue, net			10,761			14,072
State income taxes payable			688			—
Total current liabilities			330,557			352,727
Postretirement benefit obligations			32,278			33,391
Accrued self-insurance			25,138			25,147
Operating leases			134,100			132,454
Deferred income taxes			129,583			126,850
Other			4,628			4,880
Total liabilities			656,284			675,449
Shareholders’ Equity
Common stock, no par value, 100,800,000 shares authorized, 33,047,807 shares issued, 24,744,597 shares outstanding			9,949			9,949
Retained earnings			1,655,414			1,635,974
Accumulated other comprehensive income (loss) (Net of deferred taxes of $893 in 2026 and $626 in 2025)			(2,522)			(1,756)
			1,662,841			1,644,167
Treasury stock at cost, 8,303,210 shares			(292,257)			(292,257)
Total shareholders’ equity			1,370,584			1,351,910
Total liabilities and shareholders’ equity		$	2,026,868		$	2,027,359


Registrant’s telephone number, including area code: (570) 286-4571	Registrant’s web address: www.weismarkets.com


		13 Weeks Ended
(amounts in thousands, except shares and per share amounts)		March 28, 2026		March 29, 2025
Net sales	$	1,251,718	$	1,196,805
Other revenue		4,194		3,971
Total revenue		1,255,912		1,200,776
Cost of sales, including advertising, warehousing and distribution expenses		925,665		902,538
Gross profit on sales		330,247		298,238
Operating, general and administrative expenses		294,545		276,466
Income from operations		35,702		21,772
Investment income (loss) and interest expense		462		4,411
Other income (expense)		1,212		357
Income before provision for income taxes		37,376		26,540
Provision for income taxes		9,523		6,991
Net income	$	27,853	$	19,549

Weighted-average shares outstanding, basic and diluted		24,744,597		26,898,443
Cash dividends per share	$	0.34	$	0.34
Basic and diluted earnings per share	$	1.13	$	0.73


	13 Weeks Ended
(amounts in thousands)		March 28, 2026		March 29, 2025
Net income	$	27,853	$	19,549
Other comprehensive income (loss) by component, net of tax:
Available-for-sale marketable securities
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $267 in 2026 and $132 in 2025)		(766)		(405)
Other comprehensive income gain (loss), net of tax		(766)		(405)
Comprehensive income, net of tax	$	27,087	$	19,144


						Accumulated
(amounts in thousands, except shares)						Other						Total
For the Thirteen Weeks Ended	Common Stock			Retained		Comprehensive		Treasury Stock				Shareholders’
March 28, 2026 and March 29, 2025	Shares	Amount		Earnings		Income (Loss)		Shares		Amount		Equity
Balance at December 27, 2025	33,047,807	$	9,949	$	1,635,974	$	(1,756)		8,303,210	$	(292,257)	$	1,351,910
Net income	—		—		27,853		—		—		—		27,853
Other comprehensive income (loss), net of tax	—		—		—		(766)		—		—		(766)
Dividends paid	—		—		(8,413)		—		—		—		(8,413)
Balance at March 28, 2026	33,047,807	$	9,949	$	1,655,414	$	(2,522)		8,303,210	$	(292,257)	$	1,370,584

Balance at December 28, 2024	33,047,807	$	9,949	$	1,577,402	$	(2,859)		6,149,364	$	(150,857)	$	1,433,635
Net income	—		—		19,549		—		—		—		19,549
Other comprehensive income (loss), net of tax	—		—		—		(405)		—		—		(405)
Dividends paid	—		—		(9,145)		—		—		—		(9,145)
Balance at March 29, 2025	33,047,807	$	9,949	$	1,587,805	$	(3,264)		6,149,364	$	(150,857)	$	1,443,633


			Gross		Gross
(amounts in thousands)	Amortized		Unrealized		Unrealized		Fair
March 28, 2026	Cost Basis		Holding Gains		Holding Losses		Value
Available-for-sale:
Level 2
Corporate and municipal bonds	$	94,651	$	1,855	$	(5,328)	$	91,178
Commercial paper		9,887		58		—		9,945
Total	$	104,538	$	1,913	$	(5,328)	$	101,123


	Unrealized Gains (Losses)
	on Available-for-Sale
(amounts in thousands)	Marketable Securities
Accumulated other comprehensive income (loss) balance as of December 27, 2025	$	(1,756)
Other comprehensive income (loss)		(766)
Net current period other comprehensive income (loss)		(766)
Accumulated other comprehensive income (loss) balance as of March 28, 2026	$	(2,522)


	13 Weeks Ended
(amounts in thousands)	March 28, 2026				March 29, 2025
Grocery	$	1,016,599	81.2	%	$	993,095	83.0	%
Pharmacy		165,039	13.2			148,091	12.3
Fuel		67,832	5.4			53,495	4.5
Manufacturing		2,248	0.2			2,124	0.2
Total net sales		1,251,718	100.0	%		1,196,805	100.0	%
Other revenue		4,194				3,971
Total revenue	$	1,255,912			$	1,200,776


	Percentage Change
	13 Weeks Ended
March 28, 2026		2026 vs. 2025		2025 vs. 2024
Comparable store sales, excluding fuel (individual year)		1.2	%	1.0	%
Comparable store sales, excluding fuel (two-year stacked)		2.2
Comparable store sales (individual year)		2.1		0.9	%
Comparable store sales (two-year stacked)		3.0


	13 Weeks Ended
(amounts in thousands)	Increase		Increase (Decrease)
March 28, 2026	(Decrease)		as a % of sales
Employee expenses	$	10,219	0.2	%
Outside services and repairs		4,087	0.1
Utilities expense		3,265	0.2
Other expenses		508	(0.1)




	Exhibit 10.1 Executive Employment Agreement between the Company and Jonathan H Weis, Chairman, President and Chief Executive Officer, signed on February 5, 2026 effective January 1, 2026 and continuing thereafter through December 31, 2028, filed as Exhibit 10.1 to Form 8-K February 10, 2026 and incorporated herein by reference.*
	Exhibit 10.2 Weis Markets, Inc. Chief Executive Officer Incentive Award Plan effective January 1, 2026 filed as Exhibit 10.2 to Form 8-K February 10, 2026 and incorporated herein by reference.*
	Exhibit 31.1 Rule 13a-14(a) Certification - CEO
	Exhibit 31.2 Rule 13a-14(a) Certification - CFO
	Exhibit 32 Certification Pursuant to 18 U.S.C. Section 1350
	Exhibit 101 The following financial information from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 28, 2026, formatted in Inline XBRL (Extensible Business Reporting Language) includes: (i) the Condensed Consolidated Balance Sheets, (ii) the Condensed Consolidated Statements of Income, (iii) the Condensed Consolidated Statements of Comprehensive Income, (iv) the Condensed Consolidated Statements of Shareholders' Equity, (v) the Condensed Consolidated Statements of Cash Flows, and (vi) the Notes to Condensed Consolidated Financial Statements. The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document.
	Exhibit 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).


	13 Weeks Ended
(amounts in thousands)		March 28, 2026		March 29, 2025
Cash flows from operating activities:
Net income	$	27,853	$	19,549
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation and amortization		31,456		29,623
(Gain) loss on disposition of fixed assets		82		264
Unrealized (gain) loss in value of equity securities		—		(1,066)
Deferred income taxes		3,000		(868)
Unrealized (gain) loss in SERP		1,284		1,199
Changes in operating assets and liabilities:
Inventories		(11,148)		(4,000)
Accounts receivable and prepaid expenses		(4,243)		(2,016)
Accounts payable and other liabilities		(24,229)		(43,074)
Income taxes		6,062		5,893
Other		131		(648)
Net cash provided by operating activities		30,248		4,856
Cash flows from investing activities:
Purchase of property and equipment		(39,323)		(33,180)
Proceeds from the sale of property and equipment		3,247		74
Purchase of marketable securities		(11,087)		(14,610)
Proceeds from the sale and maturities of marketable securities		5,906		36,924
Acquisition of business		—		(7,468)
Change in SERP investment		49		157
Net cash used in investing activities		(41,208)		(18,103)
Cash flows from financing activities:
Dividends paid		(8,413)		(9,145)
Net cash used in financing activities		(8,413)		(9,145)
Net increase (decrease) in cash and cash equivalents		(19,373)		(22,392)
Cash and cash equivalents at beginning of year		117,091		190,323
Cash and cash equivalents at end of period	$	97,718	$	167,931


		Amortized			Fair
(amounts in thousands)	* *	Cost Basis			Value
Available-for-sale:
Due within one year		$	14,045		$	14,071
Due after one year through five years			30,007			28,870
Due after five years through ten years			8,454			8,234
Due after ten years			52,032			49,948
Total		$	104,538		$	101,123


*	Management contract or compensatory plan arrangement.


		WEIS MARKETS, INC.
		(Registrant)

Date:	5/7/2026	/S/ Jonathan H. Weis
		Jonathan H. Weis
		Chairman,
		President and Chief Executive Officer
		(Principal Executive Officer)

Date:	5/7/2026	/S/ Michael T. Lockard
		Michael T. Lockard
		Senior Vice President, Chief Financial Officer
		and Treasurer
		(Principal Financial Officer)


Date:	May 7, 2026	/S/ Jonathan H. Weis
		Jonathan H. Weis
		Chairman,
		President and Chief Executive Officer