WEIS MARKETS REPORTS FOURTH QUARTER AND FISCAL YEAR 2024 RESULTS
Weis Markets (NYSE: WMK) reported strong financial results for Q4 and fiscal year 2024. The company's net sales reached $4.77 billion for FY2024, up 1.6% from 2023, with comparable store sales excluding fuel increasing 1.9%. E-commerce sales surged 46% year-over-year.
Q4 net sales totaled $1.23 billion, up 1.2% from 2023, with comparable store sales excluding fuel up 1.1%. Q4 net income rose significantly to $34.68 million (69% increase), with earnings per share of $1.29. FY2024 net income reached $109.94 million, a 5.9% increase from 2023, with EPS of $4.09.
The company completed 12 major store development projects, acquired and converted two stores, and began construction of four new stores. The Board declared a quarterly dividend of $0.34 per share, payable March 4, 2025.
Weis Markets (NYSE: WMK) ha riportato risultati finanziari solidi per il quarto trimestre e l'anno fiscale 2024. Le vendite nette dell'azienda hanno raggiunto $4,77 miliardi per l'anno fiscale 2024, con un aumento dell'1,6% rispetto al 2023, mentre le vendite nei negozi comparabili, escluse le vendite di carburante, sono aumentate dell'1,9%. Le vendite online sono aumentate del 46% rispetto all'anno precedente.
Le vendite nette del Q4 hanno totalizzato $1,23 miliardi, con un incremento dell'1,2% rispetto al 2023, e le vendite nei negozi comparabili escluse le vendite di carburante sono aumentate dell'1,1%. Il reddito netto del Q4 è aumentato significativamente a $34,68 milioni (un incremento del 69%), con un utile per azione di $1,29. Il reddito netto per l'anno fiscale 2024 ha raggiunto $109,94 milioni, un aumento del 5,9% rispetto al 2023, con un EPS di $4,09.
L'azienda ha completato 12 importanti progetti di sviluppo di negozi, ha acquisito e convertito due negozi e ha avviato la costruzione di quattro nuovi negozi. Il Consiglio ha dichiarato un dividendo trimestrale di $0,34 per azione, pagabile il 4 marzo 2025.
Weis Markets (NYSE: WMK) reportó resultados financieros sólidos para el cuarto trimestre y el año fiscal 2024. Las ventas netas de la compañía alcanzaron $4.77 mil millones para el año fiscal 2024, un aumento del 1.6% respecto a 2023, con las ventas en tiendas comparables, excluyendo combustible, aumentando un 1.9%. Las ventas de comercio electrónico aumentaron un 46% interanual.
Las ventas netas del Q4 totalizaron $1.23 mil millones, un incremento del 1.2% respecto a 2023, con las ventas en tiendas comparables excluyendo combustible aumentando un 1.1%. El ingreso neto del Q4 aumentó significativamente a $34.68 millones (un aumento del 69%), con ganancias por acción de $1.29. El ingreso neto para el año fiscal 2024 alcanzó $109.94 millones, un aumento del 5.9% respecto a 2023, con un EPS de $4.09.
La empresa completó 12 importantes proyectos de desarrollo de tiendas, adquirió y convirtió dos tiendas, y comenzó la construcción de cuatro nuevas tiendas. La Junta declaró un dividendo trimestral de $0.34 por acción, pagadero el 4 de marzo de 2025.
Weis Markets (NYSE: WMK)는 2024 회계연도 4분기 및 연간 재무 실적이 강력하다고 보고했습니다. 회사의 순매출은 2024 회계연도에 $47억 7천만에 달했으며, 이는 2023년 대비 1.6% 증가한 수치입니다. 연료를 제외한 동종 매장 매출은 1.9% 증가했습니다. 전자상거래 매출은 전년 대비 46% 증가했습니다.
4분기 순매출은 $12억 3천만으로, 2023년 대비 1.2% 증가했으며, 연료를 제외한 동종 매장 매출은 1.1% 증가했습니다. 4분기 순이익은 $3468만으로 크게 증가했으며(69% 증가), 주당 순이익은 $1.29입니다. 2024 회계연도의 순이익은 $1억 994만으로, 2023년 대비 5.9% 증가했으며, 주당 순이익은 $4.09입니다.
회사는 12개의 주요 매장 개발 프로젝트를 완료하고, 두 개의 매장을 인수 및 전환했으며, 네 개의 새로운 매장 건설을 시작했습니다. 이사회는 주당 $0.34의 분기 배당금을 선언했으며, 이는 2025년 3월 4일에 지급될 예정입니다.
Weis Markets (NYSE: WMK) a annoncé des résultats financiers solides pour le quatrième trimestre et l'exercice 2024. Les ventes nettes de l'entreprise ont atteint $4,77 milliards pour l'exercice 2024, en hausse de 1,6% par rapport à 2023, avec des ventes en magasin comparables, hors carburant, en augmentation de 1,9%. Les ventes en ligne ont bondi de 46% d'une année sur l'autre.
Les ventes nettes du Q4 ont totalisé $1,23 milliards, en hausse de 1,2% par rapport à 2023, avec des ventes en magasin comparables hors carburant en hausse de 1,1%. Le bénéfice net du Q4 a considérablement augmenté pour atteindre $34,68 millions (augmentation de 69%), avec un bénéfice par action de $1,29. Le bénéfice net pour l'exercice 2024 a atteint $109,94 millions, soit une augmentation de 5,9% par rapport à 2023, avec un BPA de $4,09.
L'entreprise a complété 12 projets majeurs de développement de magasins, acquis et converti deux magasins, et a commencé la construction de quatre nouveaux magasins. Le Conseil a déclaré un dividende trimestriel de $0,34 par action, payable le 4 mars 2025.
Weis Markets (NYSE: WMK) hat für das vierte Quartal und das Geschäftsjahr 2024 starke finanzielle Ergebnisse gemeldet. Die Nettoumsätze des Unternehmens beliefen sich auf $4,77 Milliarden für das Geschäftsjahr 2024, ein Anstieg von 1,6% im Vergleich zu 2023, wobei die vergleichbaren Verkaufszahlen in den Geschäften ohne Kraftstoff um 1,9% gestiegen sind. Der E-Commerce-Umsatz stieg um 46% im Jahresvergleich.
Die Nettoumsätze im Q4 beliefen sich auf $1,23 Milliarden, was einem Anstieg von 1,2% im Vergleich zu 2023 entspricht, während die vergleichbaren Verkaufszahlen in den Geschäften ohne Kraftstoff um 1,1% gestiegen sind. Der Nettogewinn im Q4 stieg erheblich auf $34,68 Millionen (69% Anstieg), mit einem Gewinn pro Aktie von $1,29. Der Nettogewinn für das Geschäftsjahr 2024 erreichte $109,94 Millionen, ein Anstieg von 5,9% im Vergleich zu 2023, mit einem EPS von $4,09.
Das Unternehmen hat 12 bedeutende Store-Entwicklungsprojekte abgeschlossen, zwei Geschäfte erworben und umgebaut und mit dem Bau von vier neuen Geschäften begonnen. Der Vorstand erklärte eine vierteljährliche Dividende von $0,34 pro Aktie, die am 4. März 2025 zahlbar ist.
- E-commerce sales grew 46% YoY
- Q4 net income up 69% to $34.68M
- FY2024 net income increased 5.9% to $109.94M
- Comparable store sales ex-fuel up 1.9%
- Expansion with 12 store developments and 4 new stores under construction
- Modest net sales growth of only 1.6% YoY
- Q4 comparable store sales growth slowed to 1.1%
Insights
Weis Markets delivered solid financial performance for fiscal 2024, with net sales increasing 1.6% to
The fourth quarter results were particularly noteworthy, with net income surging
Weis's digital transformation strategy is paying dividends, evidenced by the remarkable
The company's expansion efforts—completing 12 major store projects, acquiring two locations, and initiating construction on four new stores—demonstrates management's confidence in their market position and growth trajectory. These investments position Weis to capture additional market share in growing regions.
Particularly impressive is the company's two-year stacked comparable sales growth of
The maintained quarterly dividend of
Company's fiscal year 2024 comparable store sales excluding fuel increased 1.9 percent
"Our fiscal year 2024 and fourth quarter results were in line with our expectations thanks to the efforts of our associates at every level of our company. During the year, they helped us work through inflation and supply chain issues in key segments of our business while driving sales and net income increases," said Weis Markets, Inc. Chairman, President and CEO Jonathan H. Weis. "Several factors helped us achieve our results including sustained price investments, disciplined advertising and loyalty marketing programs along with the successful integration of technology to help us improve efficiencies and manage expenses while offering a consistently strong customer experience."
"In 2024, we continued to benefit from strong e-commerce sales, which were up 46 percent for the year," said Mr. Weis. "We also worked through prior supply chain disruptions of labor and materials to complete 12 major store development projects. In addition, we acquired and converted two stores and began the construction of four new stores in growing markets. We are grateful to our associates who helped us achieve our results and look forward to building on our progress in 2025."
Fourth Quarter 2024 Results
Net sales totaled
The Company's fourth quarter net income (after provision for income taxes) totaled
Fiscal Year 2024 Results
Net sales totaled
The Company's fiscal year 2024 net income (after provision for income taxes) totaled
Quarterly Cash Dividend
The Weis Markets, Inc. Board of Directors declared on February 5, 2025, a quarterly cash dividend of
About Weis Markets
Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 198 stores in
In addition to historical information, this news release 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; business conditions in the retail industry; the regulatory environment; rapidly changing technology and competitive factors, including increased competition with regional and national retailers; and price pressures. 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. Management is also providing a two-year stacked comparable store sales analysis, a non-GAAP measure, because management believes this metric is useful to investors and analysts. It is not recommended that the two-year-stacked analysis be considered a substitute for the Company's operating results as reported in accordance with GAAP.
WEIS MARKETS, INC. COMPARATIVE SUMMARY OF SALES & EARNINGS Fourth Quarter – 2024 (Unaudited) | ||||||||||||
13 Weeks Ended | 13 Weeks Ended | Increase | ||||||||||
December 28, 2024 | December 30, 2023 | (Decrease) | ||||||||||
Net sales | $ | 1,227,278,000 | $ | 1,212,975,000 | 1.2 | % | ||||||
Other revenue | 5,675,000 | 5,442,000 | 4.3 | |||||||||
Total revenue | 1,232,953,000 | 1,218,417,000 | 1.2 | % | ||||||||
Income from operations | 42,304,000 | 29,272,000 | 44.5 | % | ||||||||
Income before provision for income taxes | $ | 46,832,000 | $ | 32,466,000 | 44.2 | % | ||||||
Provision for income taxes | 12,155,000 | 11,943,000 | 1.8 | % | ||||||||
Net income | $ | 34,677,000 | $ | 20,523,000 | 69.0 | % | ||||||
Weighted-average shares outstanding | 26,898,443 | 26,898,443 | — | |||||||||
Basic and diluted earnings per share | $ | 1.29 | $ | 0.76 | $ | 0.53 | ||||||
52 Weeks Ended | 52 Weeks Ended | Increase | ||||||||||
December 28, 2024 | December 30, 2023 | (Decrease) | ||||||||||
Net sales | $ | 4,773,880,000 | $ | 4,696,950,000 | 1.6 | % | ||||||
Other revenue | 17,850,000 | 17,623,000 | 1.3 | |||||||||
Total revenue | $ | 4,791,730,000 | $ | 4,714,573,000 | 1.6 | % | ||||||
Income from operations | 131,715,000 | 137,186,000 | (4.0) | % | ||||||||
Income before provision for income taxes | $ | 150,275,000 | $ | 146,696,000 | 2.4 | % | ||||||
Provision for income taxes | 40,334,000 | 42,868,000 | (5.9) | % | ||||||||
Net income | $ | 109,941,000 | $ | 103,828,000 | 5.9 | % | ||||||
Weighted-average shares outstanding | 26,898,443 | 26,898,443 | — | |||||||||
Basic and diluted earnings per share | $ | 4.09 | $ | 3.86 | $ | 0.23 | ||||||
WEIS MARKETS, INC. TWO-YEAR STACKED COMPARABLE STORE SALES Fourth Quarter — 2024 (Unaudited) | ||||||
Percentage Change | ||||||
Fourth Quarter Ended | ||||||
(amounts adjusted for an additional week in 2022) | 2024 vs. 2023 | 2023 vs. 2022 | ||||
Comparable store sales, excluding fuel (individual year) | 1.1 | % | 0.2 | % | ||
Comparable store sales, excluding fuel (two-year stacked) | 1.3 | |||||
Comparable store sales (individual year) | 0.8 | (0.5) | % | |||
Comparable store sales (two-year stacked) | 0.3 | % | ||||
Percentage Change | ||||||
Year Ended | ||||||
(amounts adjusted for an additional week in 2022) | 2024 vs. 2023 | 2023 vs. 2022 | ||||
Comparable store sales, excluding fuel (individual year) | 1.9 | % | 2.3 | % | ||
Comparable store sales, excluding fuel (two-year stacked) | 4.2 | |||||
Comparable store sales (individual year) | 1.7 | 1.7 | % | |||
Comparable store sales (two-year stacked) | 3.4 | % | ||||
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SOURCE Weis Markets
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