Weis Markets Q3 profit rises 31.4% to $22.2M
Operating cash flow reached $152.5 million over the first 39 weeks, while the revolving facility maturity was extended to October 1, 2030.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Weis Markets, Inc. (WMK) reported net sales of $1.275 billion for the 13 weeks ended September 26, 2026, up 3.0% year over year, and net income of $22.2 million, up 31.4%. Diluted earnings per share were $0.90, compared with $0.69. For the first 39 weeks, net sales were $3.797 billion versus $3.649 billion, and net income was $72.9 million versus $61.7 million.
Higher fuel sales drove sales growth, partly offset by lower pharmacy, dairy and produce sales. Weis Markets attributed lower pharmacy sales to Medicare maximum fair price provisions, dairy sales declines to egg price deflation, and lower produce demand to a Cyclospora outbreak during the third quarter. Net cash provided by operating activities was $152.5 million for the first 39 weeks, up $31.9 million year over year.
An October 29, 2026 amendment extended the maturity of the unsecured revolving credit facility to October 1, 2030. The facility has an aggregate principal amount not to exceed $30.0 million, with an additional discretionary $70.0 million available. Availability was $23.9 million as of September 26, 2026, net of $6.1 million in letters of credit.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNet income rose 31.4% to $22.2 million in the 13-week period.
- Moderate pointOperating cash flow increased $31.9 million year over year in the first 39 weeks.
Negative
- None.
Filing Explained
No shares were repurchased this quarter; 752,468 shares remain authorized, so the filing reports capacity rather than a completed buyback.
Form 10-Q is the unaudited quarterly report; for the quarter ended
The company expects regular quarterly dividends, but the board reconsiders each declaration and decides at its discretion whether to pay and how much.
The 2004 repurchase authorization has 752,468 shares remaining, and no shares were repurchased during the quarter; this is remaining capacity, not a reported buyback.
Key Figures
Key Terms
Comparable Store Sales Two-Year Stacked financial
Level 2 inputs financial
available-for-sale financial
LIFO inventory valuation adjustments financial
non-qualified supplemental executive retirement plan (SERP) financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did WMK earn in the third quarter of 2026?
When is WMK's $0.34 dividend payable?
How did WMK's comparable store sales perform excluding fuel?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended
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
(Exact name of registrant as specified in its charter)
| | |
| ||
(State or other jurisdiction of incorporation or organization) | | (I.R.S. Employer Identification No.) |
| | |
| | |
| ||
| (Zip Code) | |
(Address of principal executive offices) | | |
| |
Registrant’s telephone number, including area code: ( | Registrant’s web address: www.weismarkets.com |
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| | |
Large accelerated filer [X] | | Accelerated filer [ ] |
Non-accelerated filer [ ] | | Smaller reporting company |
| | Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes
Securities registered pursuant to section 12(b) of the act:
| | |
Title of each class | Trading symbol | Name of exchange on which registered |
As of November 5, 2026, there were
WEIS MARKETS, INC.
TABLE OF CONTENTS
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 | | 12 |
Item 3. Quantitative and Qualitative Disclosures about Market Risk | | 19 |
Item 4. Controls and Procedures | | 19 |
Part II. Other Information | | |
Item 5. Other Information | | 20 |
Item 6. Exhibits | | 20 |
Signatures | | 21 |
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 | | |
Table of Contents
WEIS MARKETS, INC.
PART I – FINANCIAL INFORMATION
ITEM I – FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
| | | | | | |
(amounts in thousands, except shares) | | September 26, 2026 | | December 27, 2025 | ||
Assets | | | | | | |
Current: | | | | | | |
Cash and cash equivalents | | $ | | | $ | |
Marketable securities | | | | | | |
SERP investment | | | | | | |
Accounts receivable, net | | | | | | |
Inventories | | | | | | |
Income taxes recoverable | | | | | | |
Prepaid expenses and other current assets | | | | | | |
Total current assets | | | | | | |
Property and equipment, net | | | | | | |
Operating lease right-to-use | | | | | | |
Goodwill | | | | | | |
Intangible and other assets, net | | | | | | |
Total assets | | $ | | | $ | |
| | | | | | |
Liabilities | | | | | | |
Current: | | | | | | |
Accounts payable | | $ | | | $ | |
Accrued expenses | | | | | | |
Operating leases | | | | | | |
Accrued self-insurance | | | | | | |
Deferred revenue, net | | | | | | |
Total current liabilities | | | | | | |
Postretirement benefit obligations | | | | | | |
Accrued self-insurance | | | | | | |
Operating leases | | | | | | |
Deferred income taxes | | | | | | |
Other | | | | | | |
Total liabilities | | | | | | |
Shareholders’ Equity | | | | | | |
Common stock, | | | | | | |
Retained earnings | | | | | | |
Accumulated other comprehensive income (loss) | | | ( | | | ( |
| | | | | | |
Treasury stock at cost, | | | ( | | | ( |
Total shareholders’ equity | | | | | | |
Total liabilities and shareholders’ equity | | $ | | | $ | |
See accompanying notes to Condensed Consolidated Financial Statements.
1
Table of Contents
WEIS MARKETS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
| | | | | | | | | | | | | |
| | | 13 Weeks Ended | | 39 Weeks Ended | ||||||||
(amounts in thousands, except shares and per share amounts) | | | September 26, 2026 | | | September 27, 2025 | | | September 26, 2026 | | | September 27, 2025 | |
Net sales | | $ | | | $ | | | $ | | | $ | | |
Other revenue | | | | | | | | | | | | | |
Total revenue | | | | | | | | | | | | | |
Cost of sales, including advertising, warehousing and distribution expenses | | | | | | | | | | | | | |
Gross profit on sales | | | | | | | | | | | | | |
Operating, general and administrative expenses | | | | | | | | | | | | | |
Income from operations | | | | | | | | | | | | | |
Investment income (loss) and interest expense | | | | | | | | | | | | | |
Other income (expense) | | | ( | | | ( | | | ( | | | ( | |
Income before provision for income taxes | | | | | | | | | | | | | |
Provision for income taxes | | | | | | | | | | | | | |
Net income | | $ | | | $ | | | $ | | | $ | | |
| | | | | | | | | | | | | |
Weighted-average shares outstanding, basic and diluted | | | | | | | | | | | | | |
Cash dividends per share | | $ | | | $ | | | $ | | | $ | | |
Basic and diluted earnings per share | | $ | | | $ | | | $ | | | $ | | |
See accompanying notes to Condensed Consolidated Financial Statements. The weighted average shares reflects the change in the number of shares outstanding after the purchase of
2
Table of Contents
WEIS MARKETS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited)
| | | | | | | | | | | | |
| | 13 Weeks Ended | | 39 Weeks Ended | ||||||||
(amounts in thousands) | | | September 26, 2026 | | | September 27, 2025 | | | September 26, 2026 | | | September 27, 2025 |
Net income | | $ | | | $ | | | $ | | | $ | |
Other comprehensive income (loss) by component, net of tax: | | | | | | | | | | | | |
Available-for-sale marketable securities | | | | | | | | | | | | |
Unrealized holding gains (losses) arising during period | | | ( | | | | | | ( | | | |
Other comprehensive income gain (loss), net of tax | | | ( | | | | | | ( | | | |
Comprehensive income, net of tax | | $ | | | $ | | | $ | | | $ | |
See accompanying notes to Condensed Consolidated Financial Statements.
3
Table of Contents
WEIS MARKETS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(unaudited)
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | Accumulated | | | | | | | | | |
(amounts in thousands, except shares) | | | | | | | | | | Other | | | | | | | Total | ||
For the Thirteen Weeks Ended | | Common Stock | | Retained | | Comprehensive | Treasury Stock | | Shareholders’ | ||||||||||
September 26, 2026 and September 27, 2025 | | Shares | | Amount | | Earnings | | Income (Loss) | Shares | | Amount | | Equity | ||||||
Balance at June 27, 2026 | | | | $ | | | $ | | | $ | ( | | | | $ | ( | | $ | |
Net income | | — | | | — | | | | | | — | | — | | | — | | | |
Other comprehensive income (loss), net of tax | | — | | | — | | | — | | | ( | | — | | | — | | | ( |
Dividends paid | | — | | | — | | | ( | | | — | | — | | | — | | | ( |
Balance at September 26, 2026 | | | | $ | | | $ | | | $ | ( | | | | $ | ( | | $ | |
| | | | | | | | | | | | | | | | | | | |
Balance at June 28, 2025 | | | | $ | | | $ | | | $ | ( | | | | $ | ( | | $ | |
Net income | | — | | | — | | | | | | — | | — | | | — | | | |
Other comprehensive income (loss), net of tax | | — | | | — | | | - | | | | | — | | | — | | | |
Dividends paid | | — | | | — | | | ( | | | — | | — | | | — | | | ( |
Balance at September 27, 2025 | | | | $ | | | $ | | | $ | ( | | | | $ | ( | | $ | |
| |||||||||||||||||||
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | Accumulated | | | | | | | | | |
(amounts in thousands, except shares) | | | | | | | | | | Other | | | | | | | Total | ||
For the Thirty-Nine Weeks Ended | | Common Stock | | Retained | | Comprehensive | | Treasury Stock | | Shareholders’ | |||||||||
September 26, 2026 and September 27, 2025 | | Shares | | Amount | | Earnings | | Income (Loss) | | Shares | | Amount | | Equity | |||||
Balance at December 27, 2025 | | | | $ | | | $ | | | $ | ( | | | | $ | ( | | $ | |
Net income | | — | | | — | | | | | | — | | — | | | — | | | |
Other comprehensive income (loss), net of tax | | — | | | — | | | — | | | ( | | — | | | — | | | ( |
Dividends paid | | — | | | — | | | ( | | | — | | — | | | — | | | ( |
Balance at September 26, 2026 | | | | $ | | | $ | | | $ | ( | | | | $ | ( | | $ | |
| | | | | | | | | | | | | | | | | | | |
Balance at December 28, 2024 | | | | $ | | | $ | | | $ | ( | | | | $ | ( | | $ | |
Net income | | — | | | — | | | | | | — | | — | | | — | | | |
Other comprehensive income (loss), net of tax | | — | | | — | | | — | | | | | — | | | — | | | |
Dividends paid | | — | | | — | | | ( | | | — | | — | | | — | | | ( |
Share purchase | | — | | | — | | | — | | | — | | | | | ( | | | ( |
Balance at September 27, 2025 | | | | $ | | | $ | | | $ | ( | | | | $ | ( | | $ | |
| |||||||||||||||||||
See accompanying notes to Condensed Consolidated Financial Statements.
4
Table of Contents
WEIS MARKETS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
| | | | | | |
| | 39 Weeks Ended | ||||
(amounts in thousands) | | | September 26, 2026 | | | September 27, 2025 |
Cash flows from operating activities: | | | | | | |
Net income | | $ | | | $ | |
Adjustments to reconcile net income to | | | | | | |
net cash provided by operating activities: | | | | | | |
Depreciation and amortization | | | | | | |
(Gain) loss on disposition of fixed assets | | | | | | ( |
Unrealized (gain) loss in value of equity securities | | | — | | | ( |
Deferred income taxes | | | ( | | | |
Unrealized (gain) loss in SERP | | | ( | | | ( |
Changes in operating assets and liabilities: | | | | | | |
Inventories | | | ( | | | ( |
Accounts receivable and prepaid expenses | | | | | | ( |
Accounts payable and other liabilities | | | ( | | | ( |
Income taxes | | | | | | ( |
Other | | | ( | | | ( |
Net cash provided by operating activities | | | | | | |
Cash flows from investing activities: | | | | | | |
Purchase of property and equipment | | | ( | | | ( |
Proceeds from the sale of property and equipment | | | | | | |
Purchase of marketable securities | | | ( | | | ( |
Proceeds from the sale and maturities of marketable securities | | | | | | |
Acquisition of business | | | — | | | ( |
Purchase of intangible assets | | | ( | | | ( |
Proceeds from sale of intangible assets | | | | | | — |
Change in SERP investment | | | ( | | | |
Net cash used in investing activities | | | ( | | | ( |
Cash flows from financing activities: | | | | | | |
Share purchase | | | — | | | ( |
Dividends paid | | | ( | | | ( |
Net cash used in financing activities | | | ( | | | ( |
Net increase (decrease) in cash and cash equivalents | | | | | | ( |
Cash and cash equivalents at beginning of year | | | | | | |
Cash and cash equivalents at end of period | | $ | | | $ | |
See accompanying notes to Condensed Consolidated Financial Statements. In the first thirty-nine weeks of 2026, there was $
5
Table of Contents
WEIS MARKETS, INC.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
(1) Significant Accounting Policies
Basis of Presentation: The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring deferrals and accruals) considered necessary for a fair presentation have been included. The operating results for the periods presented are not necessarily indicative of the results to be expected for the full year. The Company has evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited Condensed Consolidated Financial Statements. On October 29, 2026, the Company entered into an amendment to its Revolving Credit Agreement that extended the maturity date of the revolving credit facility to October 1, 2030. No other material provisions of the agreement were modified. Other than the matter described above, there were no material subsequent events requiring additional disclosure. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in the Company’s latest Annual Report on Form 10-K.
(2) Current Relevant Accounting Standards
The Company regularly monitors recently issued accounting standards and assesses their applicability and future impact. The Company believes there are three accounting standard updates (ASU) that will have an impact on the Company’s disclosures.
In November 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"), which requires incremental disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses. The new guidance is effective for annual reporting periods after December 15, 2026, and interim periods with annual reporting periods beginning after December 15, 2027. Early adoption of ASU 2024-03 is permitted. The Company expects the adoption of ASU 2024-03 to have a significant impact on its financial statement disclosures and is currently evaluating the changes necessary to implement the new disclosure requirements.
In September 2025, the FASB issued ASU 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"), which modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages. The new standard requires entities to consider whether significant development uncertainty has been resolved before starting to capitalize software costs and aligns disclosure requirements with ASC 360, Property, Plant, and Equipment. The ASU is effective for annual and interim reporting periods beginning after December 15, 2027, and can be applied prospectively, retrospectively, or using a modified transition method, with early adoption permitted. The Company is currently evaluating the impact of adoption of the ASU and does not expect the adoption to have a material impact on the Company’s consolidated financial statements and disclosures.
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”), which clarifies the guidance in Topic 270 to improve the consistency of interim financial reporting. The ASU provides guidance on the form and content of interim financial statements, adds a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The ASU is effective for interim reporting periods in fiscal years beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s consolidated financial statements and disclosures.
6
Table of Contents
WEIS MARKETS, INC.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
(3) Marketable Securities
The Company’s marketable securities are all classified as available-for-sale within “Current Assets” in the Company’s Condensed Consolidated Balance Sheets. The FASB has established three levels of inputs that may be used to measure fair value:
Level 1Observable inputs such as quoted prices in active markets for identical assets or liabilities;
Level 2Observable inputs, other than Level 1 inputs in active markets, that are observable either directly or indirectly; and
Level 3Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.
The Company’s bond and commercial paper portfolio is valued using Level 2 inputs. The Company’s bond and commercial paper portfolio is valued using a combination of pricing for similar securities, recently executed transactions, cash flow models with yield curves and other pricing models utilizing observable inputs, which are considered Level 2 inputs.
For Level 2 investment valuation, the Company utilizes standard pricing procedures of its investment advisory firm(s) which include various third-party pricing services. These procedures also require specific price monitoring practices as well as pricing review reports, valuation oversight and pricing challenge procedures to maintain the most accurate representation of investment fair market value.
The Company accrues interest on its bond and commercial paper portfolio throughout the life of each bond and commercial paper held. Unrealized gains and losses on debt securities are recognized in “Accumulated other comprehensive income (loss)” on the Company’s Condensed Consolidated Balance Sheets. Dividends from the equity securities are recognized as received. Interest, dividends and unrealized gains and losses on equity securities are recognized in “Investment income (loss) and interest expense” on the Company’s Condensed Consolidated Statements of Income. In the thirteen weeks ended September 26, 2026, the Company recognized investment income of $
7
Table of Contents
WEIS MARKETS, INC.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
Marketable securities, as of September 26, 2026 and December 27, 2025, consisted of:
| | | | | | | | | | | | |
| | | | | Gross | | Gross | | | | ||
(amounts in thousands) | | Amortized | | Unrealized | | Unrealized | | Fair | ||||
September 26, 2026 | | Cost | | Holding Gains | | Holding Losses | | Value | ||||
Available-for-sale: | | | | | | | | | | | | |
Level 2 | | | | | | | | | | | | |
Corporate and municipal bonds | | $ | | | $ | | | $ | ( | | | |
Commercial Paper | | | | | | | | | — | | | |
Total | | $ | | | $ | | | $ | ( | | $ | |
| | | | | | | | | | | | |
| | | | | Gross | | Gross | | | | ||
(amounts in thousands) | | Amortized | | Unrealized | | Unrealized | | Fair | ||||
December 27, 2025 | | Cost | | Holding Gains | | Holding Losses | | Value | ||||
Available-for-sale: | | | | | | | | | | | | |
Level 2 | | | | | | | | | | | | |
Corporate and municipal bonds | | $ | | | $ | | | $ | ( | | | |
Commercial paper | | | | | | | | | — | | | |
Total | | $ | | | $ | | | $ | ( | | $ | |
Maturities of marketable securities classified as available-for-sale at September 26, 2026, were as follows:
| | | | | | |
| | Amortized | | Fair | ||
(amounts in thousands) | | Cost | | Value | ||
Available-for-sale: | | | | | | |
Due within one year | | $ | | | $ | |
Due after one year through five years | | | | | | |
Due after five years through ten years | | | | | | |
Due after ten years | | | | | | |
Total | | $ | | | $ | |
SERP Investments
The Company also maintains a non-qualified supplemental executive retirement plan (SERP) for certain of its employees which allows them to defer income to future periods. Participants in the plans earn a return on their deferrals based on mutual fund investments. The Company chooses to invest in the underlying mutual fund investments to offset the liability associated with the non-qualified deferred compensation plans. Such investments which are reported on the Company’s Condensed Consolidated Balance Sheets as “SERP investment,” are classified as trading securities and are measured at fair value using Level 1 inputs with gains and losses included in “Investment income (loss) and interest expense” on the Company’s Condensed Consolidated Statements of Income. The Company recognized investment income of $
8
Table of Contents
WEIS MARKETS, INC.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
(4) Accumulated Other Comprehensive Income (Loss)
All balances in accumulated other comprehensive loss are related to available-for-sale marketable debt securities. The following table sets forth the balance of the Company’s accumulated other comprehensive loss, net of tax.
| | | |
| | Unrealized Gains (Losses) | |
| | on Available-for-Sale | |
(amounts in thousands) | | Marketable Debt Securities | |
Accumulated other comprehensive income (loss) balance as of December 27, 2025 | | $ | ( |
Other comprehensive income (loss) | | | ( |
Net current period other comprehensive income (loss) | | | ( |
Accumulated other comprehensive income (loss) balance as of September 26, 2026 | | $ | ( |
(5) Long-Term Debt
On
Interest expense related to long-term debt was $
(6) Revenue Recognition
The following table represents net sales by product category and other revenue for the thirteen and thirty-nine weeks ended September 26, 2026, and September 27, 2025:
| | | | | | | | | | | |
| | 13 Weeks Ended | |||||||||
(amounts in thousands) | | September 26, 2026 | | September 27, 2025 | |||||||
Grocery | | $ | | | | % | $ | | | | % |
Pharmacy | | | | | | | | | | | |
Fuel | | | | | | | | | | | |
Manufacturing | | | | | | | | | | | |
Total net sales | | $ | | | | % | $ | | | | % |
Other revenue | | | | | | | | | | | |
Total revenue | | $ | | | | | $ | | | | |
| | | | | | | | | | | |
| | 39 Weeks Ended | |||||||||
(amounts in thousands) | | September 26, 2026 | | September 27, 2025 | | ||||||
Grocery | | $ | | | % | $ | | | % | ||
Pharmacy | | | | | | | | | | ||
Fuel | | | | | | | | | | ||
Manufacturing | | | | | | | | | | ||
Total net sales | | $ | | | % | $ | | | % | ||
Other revenue | | | | | | | | | | | |
Total revenue | | $ | | | | | $ | | | | |
9
Table of Contents
WEIS MARKETS, INC.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
(7) Segment Reporting
The Company manages the business activities on a consolidated basis and has
The Company’s chief operating decision maker is the Chief Operating Officer. The chief operating decision maker assesses performance for the segment and decides how to allocate resources based on operating income and net income that is also reported on the accompanying Consolidated Statements of Income. The measure of segment assets used to assess performance and allocate resources is reported on the Consolidated Balance Sheets as total assets. The chief operating decision maker uses operating income and net income to evaluate income generated from segment assets in deciding whether to reinvest profits into the segment, such as for acquisitions. Operating income and net income are used to monitor budget versus actual results. The chief operating decision maker also uses operating income and net income in competitive analysis by benchmarking to the Company’s competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing performance of the segment.
The following table presents the retail segment’s revenue, significant segment expenses, and segment operating and net income for the thirteen and thirty-nine weeks ended September 26, 2026 and September 27, 2025:
| | | | | | | | | | | | |
| | 13 Weeks Ended | | 39 Weeks Ended | ||||||||
(amounts in thousands) | | September 26, 2026 | | September 27, 2025 | | September 26, 2026 | | September 27, 2025 | ||||
Net sales | | $ | | | $ | | | $ | | | $ | |
Other revenue (1) | | | | | | | | | | | | |
Total revenue | | | | | | | | | | | | |
Less: | | | | | | | | | | | | |
Cost of sales - stores | | | | | | | | | | | | |
Labor - stores | | | | | | | | | | | | |
Depreciation and amortization-stores (2) | | | | | | | | | | | | |
Occupancy - stores | | | | | | | | | | | | |
All other expense - stores (3) | | | | | | | | | | | | |
Administration, manufacturing, and property management expense | | | | | | | | | | | | |
Distribution and transportation | | | | | | | | | | | | |
Income from operations | | | | | | | | | | | | |
Other income (expense) (4) | | | ( | | | ( | | | ( | | | ( |
Investment income (loss) and interest expense | | | | | | | | | | | | |
Provision for income taxes | | | | | | | | | | | | |
Net income | | $ | | | $ | | | $ | | | $ | |
| (1) | Other revenue represents commission income earned from a variety of services such as lottery, money orders, third party gift cards, and third party bill pay services. |
| (2) | Segment depreciation and amortization expense, for stores and non-stores, was $ |
| (3) |
| (4) | Other income (expenses) consists of gains (losses) on SERP liability. |
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WEIS MARKETS, INC.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
(8) Leases
As of September 26, 2026, the Company leased approximately
The Company leases or subleases space to tenants in owned, vacated and open store facilities. Rental income is recorded when earned as a component of “Operating, general and administrative expenses.”
The following is a schedule of the lease costs included in “Operating, general and administrative expenses” for the thirteen and thirty-nine weeks ended September 26, 2026 and September 27, 2025.
| | | | | | | | | | | | |
| | 13 Weeks Ended | | 39 Weeks Ended | ||||||||
(amounts in thousands) | | | September 26, 2026 | | | September 27, 2025 | | | September 26, 2026 | | | September 27, 2025 |
Operating lease cost | | $ | | | $ | | | $ | | | $ | |
Variable lease cost | | | | | | | | | | | | |
Lease or sublease income | | | ( | | | ( | | | ( | | | ( |
Net lease cost | | $ | | | $ | | | $ | | | $ | |
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WEIS MARKETS, INC.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion and analysis of Weis Markets, Inc.’s (the “Company”) financial condition and results of operations should be read in conjunction with the unaudited Condensed Consolidated Financial Statements and related notes included in Item 1 of this Quarterly Report on Form 10-Q, the Company’s audited Consolidated Financial Statements and the related notes included in the Company’s Annual Report on Form 10-K for the year ended December 27, 2025, filed with the U.S. Securities and Exchange Commission, as well as the cautionary statement captioned "Forward-Looking Statements" immediately following this analysis.
Company Summary
Weis Markets is a conventional supermarket chain that currently operates 201 retail stores with over 22 thousand employees located in Pennsylvania and six surrounding states: Delaware, Maryland, New Jersey, New York, Virginia and West Virginia. Approximately 94% of Weis Markets employees are paid an hourly wage. Its products sold include groceries, dairy products, frozen foods, meats, seafood, fresh produce, floral, pharmacy services at certain locations, deli products, prepared foods, bakery products, beer and wine, fuel, and general merchandise items, such as health and beauty care and household products. The store product selection includes national, local and private brands and the Company promotes competitive pricing by using Low, Low Prices; Price Locks; Weekly Hot Buys; senior and military discounts; and Loyalty Rewards program. The Loyalty Rewards program includes reward points that may be redeemed for discounts on items in store, at one of the Company’s fuel stations or one of its third-party fuel station partners.
Utilizing its own strategically located distribution center and transportation fleet, Weis Markets self distributes approximately 50% of products with the remaining being supplied by direct store delivery vendors and regional wholesalers. In addition, the Company has three manufacturing facilities which process milk, water, ice, ice cream and fresh meat products. The corporate offices are located in Sunbury, PA where the Company was founded in 1912.
The Company has provided additional product offerings and customer conveniences such as “Weis 2 Go Online,” currently offered at 194 store locations. “Weis 2 Go Online” allows the customer to order on-line and have their order delivered or picked up at an expedient store drive-thru. The Company also currently offers home delivery to customers at all 201 of its locations via multiple grocery delivery partners.
Two-Year Stacked Comparable Store Sales Analysis
Management is providing Comparable Store Sales Two-Year Stacked analysis, a non-GAAP measure, because management believes this metric is useful to investors and analysts. A Comparable Store Sales Two-Year Stacked analysis presents a comparison of results and trends over a longer period of time to demonstrate the effect of fluctuating economic activity on the operating results of the Company. Information presented in the tables below is not intended for use as an alternative to any other measure of performance. It is not recommended that this table be considered a substitute for the Company’s operating results as reported in accordance with GAAP.
Year-over-year and sequential comparisons are the primary calculations used to analyze operating results, however, due to fluctuations caused by declining government benefits, pharmacy sales growth, and inflationary trends in the food retail industry, management believes it is necessary to provide a Two-Year Stacked Comparable Store Sales analysis. The following tables provide the two-year stacked comparable store sales, including and excluding fuel, for the periods ended September 26, 2026 and September 27, 2025, as well as periods ended September 27, 2025 and September 28, 2024, respectively. Comparable store sales increased 1.3 percent on an individual year-over-year basis and increased 3.8 percent on a two-year stacked basis for the thirteen weeks ended September 26, 2026. Comparable store sales increased 1.9 percent on an individual year-over-year basis and increased 3.6 percent on a two-year stacked basis for the thirty-nine weeks ended September 26, 2026.
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WEIS MARKETS, INC.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(continued)
| | | | | | | |
| | Percentage Change | |||||
| | 13 Weeks Ended | |||||
September 26, 2026 | | | 2026 vs. 2025 | | | 2025 vs. 2024 | |
Comparable store sales (individual year) | | | 1.3 | % | | 2.5 | % |
Comparable store sales (two-year stacked) | | | 3.8 | | | | |
Comparable store sales, excluding fuel (individual year) | | | (1.2) | | | 2.5 | % |
Comparable store sales, excluding fuel (two-year stacked) | | | 1.3 | % | | | |
| | | | | | | |
| | Percentage Change | |||||
| | 39 Weeks Ended | |||||
September 26, 2026 | | | 2026 vs. 2025 | | | 2025 vs. 2024 | |
Comparable store sales (individual year) | | | 1.9 | % | | 1.7 | % |
Comparable store sales (two-year stacked) | | | 3.6 | | | | |
Comparable store sales, excluding fuel (individual year) | | | (0.1) | | | 1.9 | % |
Comparable store sales, excluding fuel (two-year stacked) | | | 1.8 | % | | | |
When calculating the percentage change in comparable store sales, the Company defines a new store to be comparable after it has been in operation for five full fiscal quarters. Relocated stores and stores with expanded square footage are included in comparable store sales since these units are located in existing markets and are open during construction. Planned store dispositions are excluded from the calculation. The Company only includes retail food stores in the calculation.
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WEIS MARKETS, INC.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(continued)
Results of Operations
Analysis of Consolidated Statements of Income
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | Percentage Change | | |||
| | 13 Weeks Ended | | 39 Weeks Ended | | 13 Weeks Ended | | 39 Weeks Ended | | ||||||||||
(amounts in thousands, except per share amounts) | | | September 26, 2026 | | | September 27, 2025 | | | September 26, 2026 | | | September 27, 2025 | | | 2026 vs. 2025 | | 2026 vs. 2025 | | |
Net sales | | $ | 1,274,817 | | $ | 1,238,208 | | $ | 3,797,393 | | $ | 3,649,492 | | | 3.0 | % | | 4.1 | % |
Other revenue | | | 4,269 | | | 4,099 | | | 12,913 | | | 12,387 | | | 4.1 | | | 4.2 | |
Total revenue | | | 1,279,086 | | | 1,242,307 | | | 3,810,306 | | | 3,661,879 | | | 3.0 | | | 4.1 | |
Cost of sales, including advertising, warehousing and distribution expenses | | | 954,472 | | | 935,428 | | | 2,827,044 | | | 2,750,096 | | | 2.0 | | | 2.8 | |
Gross profit on sales | | | 324,614 | | | 306,879 | | | 983,262 | | | 911,783 | | | 5.8 | | | 7.8 | |
Gross profit margin | | | 25.5 | % | | 24.8 | % | | 25.9 | % | | 25.0 | % | | | | | | |
Operating, general and administrative expenses | | | 296,109 | | | 286,313 | | | 889,948 | | | 839,207 | | | 3.4 | | | 6.0 | |
O, G & A, percent of net sales | | | 23.2 | % | | 23.1 | % | | 23.4 | % | | 23.0 | % | | | | | | |
Income from operations | | | 28,505 | | | 20,566 | | | 93,314 | | | 72,576 | | | 38.6 | | | 28.6 | |
Operating margin | | | 2.2 | % | | 1.7 | % | | 2.5 | % | | 2.0 | % | | | | | | |
Investment income (loss) and interest expense | | | 2,087 | | | 3,276 | | | 7,379 | | | 12,981 | | | (36.3) | | | (43.2) | |
Investment income (loss) and interest expense, percent of net sales | | | 0.2 | % | | 0.3 | % | | 0.2 | % | | 0.4 | % | | | | | | |
Other income (expense) | | | (460) | | | (1,565) | | | (2,528) | | | (3,370) | | | (70.6) | | | (25.0) | |
Other income (expense), percent of net sales | | | (0.0) | % | | (0.1) | % | | (0.1) | % | | (0.1) | % | | | | | | |
Income before provision for income taxes | | | 30,132 | | | 22,277 | | | 98,165 | | | 82,187 | | | 35.3 | | | 19.4 | |
Income before provision for income taxes, percent of net sales | | | 2.4 | % | | 1.8 | % | | 2.6 | % | | 2.3 | % | | | | | | |
Provision for income taxes | | | 7,922 | | | 5,374 | | | 25,246 | | | 20,458 | | | 47.4 | | | 23.4 | |
Effective income tax rate | | | 26.3 | % | | 24.1 | % | | 25.7 | % | | 24.9 | % | | | | | | |
Net income | | $ | 22,210 | | $ | 16,903 | | $ | 72,919 | | $ | 61,729 | | | 31.4 | % | | 18.1 | % |
Net income, percent of net sales | | | 1.7 | % | | 1.4 | % | | 1.9 | % | | 1.7 | % | | | | | | |
Basic and diluted earnings per share | | $ | 0.90 | | $ | 0.69 | | $ | 2.95 | | $ | 2.38 | | | 30.4 | % | | 23.9 | % |
Net Sales
Individual Year-Over-Year Analysis of Sales
| | | | | | |
| | Percentage Change | ||||
| | 2026 vs. 2025 | ||||
September 26, 2026 | | 13 Weeks Ended | 39 Weeks Ended | | ||
Net sales | | 3.0 | % | | 4.1 | % |
Net sales, excluding fuel | | 0.2 | | | 1.8 | |
Comparable store sales (individual year) | | 1.3 | | | 1.9 | |
Comparable store sales, excluding fuel (individual year) | | (1.2) | % | | (0.1) | % |
When calculating the percentage change in comparable store sales, the Company defines a new store to be comparable after it has been in operation for five full fiscal quarters. Relocated stores and stores with expanded square footage are included in comparable store sales since these units are located in existing markets and are open during construction. Planned store dispositions are excluded from the calculation. The Company only includes retail food stores in the calculation.
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WEIS MARKETS, INC.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(continued)
According to the latest U.S. Bureau of Labor Statistics’ report, the Seasonally Adjusted Food-at-Home Consumer Price Index decreased 0.1% and increased 0.8% for the thirteen week periods ended September 26, 2026 and September 27, 2025, respectively. The Seasonally Adjusted Food-at-Home Consumer Price Index increased 1.3% and 1.9% for the thirty-nine week periods ended September 26, 2026 and September 27, 2025, respectively. According to the U.S. Department of Energy, the average price of gasoline in the Central Atlantic States increased 29.3% or $0.97 per gallon in the thirteen weeks ended September 26, 2026, compared to the same period in 2025. The average price of gasoline in the Central Atlantic States increased 19.7% or $0.65 per gallon in the first thirty-nine weeks of 2026 when compared to the same period in 2025. Although the U.S. Bureau of Labor Statistics’ and the U.S. Department of Energy indices may be reflective of broader trends, they will not necessarily be indicative of the Company’s actual results.
Total net sales increased 3.0% to $1.3 billion for the thirteen weeks ended September 26, 2026, from $1.2 billion for the thirteen weeks ended September 27, 2025. For the thirty-nine weeks ended September 26, 2026, total net sales increased 4.1% to $3.8 billion from $3.6 billion in 2025. The increase in total net sales includes retail price inflation in grocery, fresh product categories and fuel. Comparable store sales for the thirteen weeks ended September 26, 2026, compared to the same period in 2025 increased 1.3% including fuel and decreased 1.2% excluding fuel. Comparable store sales for the thirty-nine weeks ended September 26, 2026, compared to the same period in 2025 increased 1.9% including fuel and decreased 0.1% excluding fuel. Sales growth was driven primarily by higher fuel sales, partially offset by lower pharmacy, dairy, and produce sales. Pharmacy sales were adversely affected by the Inflation Reduction Act’s Medicare maximum fair price provisions, while dairy sales declined due to egg price deflation compared with the same period in 2025. Produce sales were negatively impacted by lower customer demand during the Cyclospora outbreak in the third quarter of 2026.
Although the Company experienced retail inflation and deflation across various commodities during the periods presented, the Company expects these trends to continue to vary by category. Inflationary pressures in certain food categories may be partially offset by anticipated pharmacy deflation resulting from the Inflation Reduction Act’s Medicare maximum fair price provisions and moderating fuel prices. Management cannot accurately measure the full impact of inflation or deflation on retail pricing due to changes in the types of merchandise sold between periods, shifts in customer buying patterns and the fluctuation of competitive factors. Management remains confident in its ability to generate long-term sales growth in a highly competitive environment, but also understands some competitors have greater financial resources and could use these resources to take measures which could adversely affect the Company’s competitive position.
Cost of Sales and Gross Profit
Cost of sales consists of direct product costs (net of vendor discounts and allowances), net advertising costs, distribution center and transportation costs, as well as manufacturing facility operations.
Gross profit on sales increased 5.8% and 7.8% for the thirteen and thirty-nine weeks ended September 26, 2026, respectively, compared to the same period in 2025. Gross profit margin increased 0.7% and 0.9% for the thirteen and thirty-nine weeks ended September 26, 2026, respectively, when compared to the same period in 2025.
Non-cash LIFO inventory valuation adjustments represent expense of $926 thousand in the first thirty-nine weeks of 2026 compared to expense of $329 thousand in the same period in 2025. Although the Company experienced cost inflation and deflation across various commodities during the periods presented, the Company expects these trends to continue to vary by category. Inflationary pressures in certain food categories may be partially offset by anticipated pharmacy deflation resulting from the Inflation Reduction Act’s Medicare maximum fair price provisions and moderating fuel costs.
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WEIS MARKETS, INC.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(continued)
Operating, General and Administrative Expenses
The majority of the operating, general and administrative expenses are driven by sales volume.
Employee expenses such as wages, employer paid taxes, health care benefits and retirement plans, comprise approximately 58.5% of the total “Operating, general and administrative expenses.” As a percent of sales, direct store labor increased 0.1% for the thirteen and thirty-nine week periods ended September 26, 2026 when compared to the same period in 2025.
Depreciation and amortization expense included in “Operating, general and administrative expenses” totaled $28.5 million, or 2.2% of net sales, for the thirteen weeks ended September 26, 2026, compared to $28.7 million, or 2.3% of net sales, for the thirteen weeks ended September 27, 2025. For the thirty-nine weeks ended September 26, 2026, depreciation and amortization expense was $85.9 million, or 2.3% of net sales, compared to $83.1 million, or 2.3% of net sales, for the thirty-nine weeks ended September 27, 2025. See the Liquidity and Capital Resources section for further information regarding the Company’s capital expenditure program.
A breakdown of the material increases (decreases) as a percent of sales in "Operating, general and administrative expenses" is as follows:
| | | | | | |
| | 13 Weeks Ended | | |||
(amounts in thousands) | | Increase | | Increase (Decrease) | | |
September 26, 2026 | | (Decrease) | | as a % of sales | | |
Employee expenses | | $ | 7,389 | | 0.2 | % |
Outside services and repairs | | | 2,169 | | 0.1 | |
Utility expense | | | 1,531 | | 0.1 | |
Fixed expenses (property taxes, depreciation, insurance) | | | (2,024) | | (0.3) | |
Other expenses | | | 732 | | 0.1 | |
| | | | | | |
| | 39 Weeks Ended | | |||
(amounts in thousands) | | Increase | | Increase (Decrease) | | |
September 26, 2026 | | (Decrease) | | as a % of sales | | |
Employee expenses | | $ | 28,869 | | 0.2 | % |
Outside services and repairs | | | 8,737 | | 0.1 | |
Utility expense | | | 7,308 | | 0.1 | |
Interchange fee legal settlement | | | 2,759 | | 0.1 | |
Fixed expenses (property taxes, depreciation, insurance) | | | 1,900 | | (0.1) | |
Other expenses | | | 1,168 | | 0.0 | |
Operating, general and administrative expenses, as a percent of sales, increased for both the thirteen and thirty-nine weeks ended September 26, 2026, compared to the same periods in 2025. The increases were primarily attributable to higher employee costs, including wages and incentive compensation, higher outside services and repair expenses, including IT expenses and financial service fees, and increased utility costs due to higher electricity rates. Fixed expenses for the thirteen-week period decreased primarily due to lower workers’ compensation reserves and depreciation expense, partially offset by higher depreciation associated with new stores opened in 2025. For the thirty-nine-week period, fixed expenses increased primarily due to higher depreciation associated with new stores opened in 2025. In 2025, the Company recognized a $2.7 million reduction to operating expenses from the settlement and monetization of legal claims related to credit card interchange fees overcharged by payment card networks in prior years.
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WEIS MARKETS, INC.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(continued)
Provision for Income Taxes
The effective income tax rate was 25.7% and 24.9% for the thirty-nine weeks ended September 26, 2026 and September 27, 2025, respectively. The effective income tax rate differed from the federal statutory rate, primarily due to the effect of state taxes and limitation on the deductibility of executive compensation.
Liquidity and Capital Resources
The primary source of cash is cash flows generated from operations. In addition, the Company has access to a revolving credit agreement entered into on September 1, 2016, and last amended on October 29, 2026, with Wells Fargo Bank, N.A. (the “Credit Agreement”). The Credit Agreement matures on October 1, 2030, and provides for an unsecured revolving credit facility with an aggregate principal amount not to exceed $30.0 million with an additional discretionary amount available of $70.0 million. As of September 26, 2026, the availability under the Credit Agreement was $23.9 million, net of $6.1 million letters of credit. The letters of credit are maintained primarily to support performance, payment, deposit or surety obligations of the Company.
The Company’s investment portfolio consists of high-grade corporate and municipal bonds with maturity dates between one and thirty years and commercial paper. The portfolio totaled $101.0 million as of September 26, 2026. Management anticipates maintaining the investment portfolio but has the ability to liquidate if needed.
The Company’s capital expenditure program includes the construction of new stores, the expansion and remodeling of existing units, the acquisition of sites for future expansion, new technology purchases and the continued upgrade of the Company’s distribution facilities and transportation fleet. The Company continues to reinvest and anticipates funding the long-term capital expenditure program, the acquisition of retail stores, the construction of additional distribution facilities, repurchases of common stock, and cash dividends on common stock through its cash and cash equivalents, marketable securities, cash flows from operating activities, and the revolving Credit Agreement.
The Board of Directors’ 2004 resolution authorizing the repurchase of up to one million shares of the Company’s common stock has a remaining balance of 752,468 shares, and no repurchases were made during the quarter ended September 26, 2026.
Quarterly Cash Dividends
At its regular meeting held in October, the Board of Directors declared a quarterly dividend of $0.34 per share, payable on November 23, 2026, to shareholders of record on November 9, 2026. The Company expects to continue paying regular cash dividends on a quarterly basis. However, the Board of Directors reconsiders the declaration of dividends quarterly. The Company pays these dividends at the discretion of the Board of Directors and the continuation of these payments and the amount of the dividends depends upon the results of operations, the financial condition of the Company and other factors which the Board of Directors deems relevant.
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WEIS MARKETS, INC.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(continued)
Cash Flow Information
| | | | | | | | | |
| | 39 Weeks Ended | | | | ||||
(amounts in thousands) | | | September 26, 2026 | | | September 27, 2025 | | | 2026 vs. 2025 |
Net cash provided by (used in): | | | | | | | | | |
Operating activities | | $ | 152,473 | | $ | 120,612 | | $ | 31,861 |
Investing activities | | | (118,017) | | | (89,581) | | | (28,436) |
Financing activities | | | (25,239) | | | (166,704) | | | 141,465 |
Operating
Cash flows from operating activities increased $31.9 million in the first thirty-nine weeks of 2026 compared to the same period in 2025. This increase was primarily driven by higher net income and decreased accounts receivable and prepaid expenses.
Investing
The $28.4 million decrease in cash flow from investing activities in the first thirty-nine weeks of 2026, compared to the same period in 2025, was primarily due to lower sales of marketable securities in 2026 following the sale of marketable securities used to partially fund the $140.0 million share purchase in June 2025.
Financing
Cash flows from financing activities increased $141.5 million in the first thirty-nine weeks of 2026 compared to the same period in 2025 primarily due to the $140.0 million share purchase in June 2025. The Company paid dividends of $25.2 million and $26.7 million in the first thirty-nine weeks of 2026 and 2025, respectively.
Accounting Policies and Estimates
The Company has chosen accounting policies that it believes are appropriate to accurately and fairly report its operating results and financial position, and the Company applies those accounting policies in a consistent manner. The Significant Accounting Policies are summarized in Note 1 to the Consolidated Financial Statements included in the 2025 Annual Report on Form 10-K. There have been no changes to the Significant Accounting Policies since the Company filed its Annual Report on Form 10-K for the fiscal year ended December 27, 2025.
Forward-Looking Statements
In addition to historical information, this Form 10-Q report may contain forward-looking statements, which are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. For example, risks and uncertainties can arise with changes in: general economic conditions, including their impact on capital expenditures; tariffs and trade policies; business conditions and trends in the retail industry; the regulatory environment; rapidly changing technology, including cybersecurity and data privacy risks, and competitive factors, including increased competition with regional and national retailers; and price pressures; further expenditures related to restatement of our financial statements; and the results of any shareholder actions associated with the restatements referenced in Note 12 on the Company’s Annual Report on Form 10-K filed for the fiscal year ended December 27, 2025. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect Management’s analysis only as of the date hereof. The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risk factors described in other documents the Company files periodically with the Securities and Exchange Commission.
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WEIS MARKETS, INC.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Quantitative Disclosure - There have been no material changes in the Company’s market risk during the fiscal quarter ended September 26, 2026. Quantitative information is set forth in Item 7a on the Company’s Annual Report on Form 10-K under the caption “Quantitative and Qualitative Disclosures About Market Risk,” which was filed for the fiscal year ended December 27, 2025, and is incorporated herein by reference.
Qualitative Disclosure - This information is set forth in the Company’s Annual Report on Form 10-K under the caption “Liquidity and Capital Resources,” within “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” which was filed for the fiscal year ended December 27, 2025, and is incorporated herein by reference.
ITEM 4. CONTROLS AND PROCEDURES
The Chief Executive Officer and the Chief Financial Officer, together with the Company’s Disclosure Committee, evaluated the Company’s disclosure controls and procedures as of the fiscal quarter ended September 26, 2026. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of the end of the period covered by this report to ensure that information required to be disclosed by the Company in the reports filed or submitted by it under the Securities Exchange Act of 1934, as amended, was recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and include controls and procedures designed to ensure that information required to be disclosed by the Company in such reports was accumulated and communicated to the Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.
In connection with the evaluation described above, there was no change in the Company’s internal control over financial reporting during the fiscal quarter ended September 26, 2026, that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
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WEIS MARKETS, INC.
PART II – OTHER INFORMATION
ITEM 5. OTHER INFORMATION
During the thirteen weeks ended September 26, 2026,
ITEM 6. EXHIBITS
Exhibits
| |
| |
| |
| 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 September 26, 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). |
* | Management contract or compensatory plan arrangement. |
| |
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WEIS MARKETS, INC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| | | |
| | | WEIS MARKETS, INC. |
| | | (Registrant) |
| | | |
Date: | 11/5/2026 | | /S/ Jonathan H. Weis |
| | | Jonathan H. Weis |
| | | Chairman, |
| | | President and Chief Executive Officer |
| | | (Principal Executive Officer) |
| | | |
Date: | 11/5/2026 | | /S/ Michael T. Lockard |
| | | Michael T. Lockard |
| | | Senior Vice President, Chief Financial Officer |
| | | and Treasurer |
| | | (Principal Financial Officer) |
21