WEIS MARKETS REPORTS THIRD QUARTER 2024 RESULTS
Weis Markets (NYSE: WMK) reported Q3 2024 results with net sales of $1.19 billion, up 2.2% from Q3 2023. Comparable store sales excluding fuel increased 3.0% year-over-year. Net income reached $25.84 million (including a $4.58 million gain on fixed assets), up 11.3% from 2023, with earnings per share of $0.96. Year-to-date net sales totaled $3.55 billion, up 1.8%, while net income decreased 9.7% to $75.26 million. The company declared a quarterly dividend of $0.34 per share.
Weis Markets (NYSE: WMK) ha riportato i risultati del terzo trimestre 2024 con vendite nette di 1,19 miliardi di dollari, in aumento del 2,2% rispetto al terzo trimestre 2023. Le vendite di negozi comparabili, escluse le vendite di carburante, sono aumentate del 3,0% rispetto all'anno precedente. Il reddito netto ha raggiunto i 25,84 milioni di dollari (incluso un guadagno di 4,58 milioni di dollari su attivi fissi), in aumento dell'11,3% rispetto al 2023, con un utile per azione di 0,96 dollari. Fino ad oggi, le vendite nette hanno totalizzato 3,55 miliardi di dollari, in aumento dell'1,8%, mentre il reddito netto è diminuito del 9,7% a 75,26 milioni di dollari. L'azienda ha dichiarato un dividendo trimestrale di 0,34 dollari per azione.
Weis Markets (NYSE: WMK) reportó los resultados del tercer trimestre de 2024 con ventas netas de 1.19 mil millones de dólares, un aumento del 2.2% desde el tercer trimestre de 2023. Las ventas de tiendas comparables, excluyendo combustible, aumentaron un 3.0% interanual. El ingreso neto alcanzó los 25.84 millones de dólares (incluido una ganancia de 4.58 millones de dólares en activos fijos), un incremento del 11.3% respecto a 2023, con ganancias por acción de 0.96 dólares. Las ventas netas acumuladas hasta la fecha alcanzaron un total de 3.55 mil millones de dólares, un aumento del 1.8%, mientras que el ingreso neto disminuyó un 9.7% a 75.26 millones de dólares. La empresa declaró un dividendo trimestral de 0.34 dólares por acción.
Weis Markets (NYSE: WMK)는 2024년 3분기 실적을 발표하며 순매출 11억 9천만 달러를 기록했으며, 이는 2023년 3분기 대비 2.2% 증가한 수치입니다. 연료를 제외한 동Comparable 매장 매출은 전년 대비 3.0% 증가했습니다. 순이익은 2584만 달러에 달했습니다 (고정 자산에서 458만 달러의 이익이 포함됨), 이는 2023년보다 11.3% 증가했으며, 주당 순이익은 0.96달러입니다. 올해 누적된 순매출은 35억 5천만 달러로 1.8% 증가했으며, 순이익은 9.7% 감소하여 7526만 달러에 달했습니다. 회사는 주당 0.34달러의 분기 배당금을 선언했습니다.
Weis Markets (NYSE: WMK) a annoncé les résultats du troisième trimestre 2024 avec des ventes nettes de 1,19 milliard de dollars, en hausse de 2,2% par rapport au troisième trimestre 2023. Les ventes des magasins comparables, hors carburant, ont augmenté de 3,0% en glissement annuel. Le revenu net a atteint 25,84 millions de dollars (y compris un gain de 4,58 millions de dollars sur des actifs fixes), en hausse de 11,3% par rapport à 2023, avec un bénéfice par action de 0,96 dollar. Les ventes nettes cumulées depuis le début de l'année s'élevaient à 3,55 milliards de dollars, en hausse de 1,8%, tandis que le revenu net a diminué de 9,7% pour atteindre 75,26 millions de dollars. La société a déclaré un dividende trimestriel de 0,34 dollar par action.
Weis Markets (NYSE: WMK) hat die Ergebnisse des dritten Quartals 2024 mit Nettoverkäufen von 1,19 Milliarden Dollar gemeldet, was einem Anstieg von 2,2% im Vergleich zum dritten Quartal 2023 entspricht. Die vergleichbaren Verkaufszahlen ohne Kraftstoffe stiegen im Jahresvergleich um 3,0%. Der Nettogewinn erreichte 25,84 Millionen Dollar (einschließlich eines Gewinns von 4,58 Millionen Dollar aus Sachanlagen), was einem Anstieg von 11,3% im Vergleich zu 2023 entspricht, mit einem Gewinn pro Aktie von 0,96 Dollar. Die Nettoverkäufe bis heute beliefen sich auf insgesamt 3,55 Milliarden Dollar, was einem Anstieg von 1,8% entspricht, während der Nettogewinn um 9,7% auf 75,26 Millionen Dollar gesunken ist. Das Unternehmen erklärte eine vierteljährliche Dividende von 0,34 Dollar pro Aktie.
- Q3 net sales increased 2.2% to $1.19 billion
- Q3 comparable store sales excluding fuel up 3.0%
- Q3 net income increased 11.3% to $25.84 million
- Q3 EPS improved to $0.96 from $0.86 in 2023
- Added 448 household essential items to Low, Low Price program
- Year-to-date net income decreased 9.7% to $75.26 million
- Year-to-date EPS declined to $2.80 from $3.10 in 2023
Insights
Weis Markets shows mixed performance in Q3 2024 with some positive indicators amid challenging market conditions. Net sales increased
The year-to-date performance reveals some pressure points, with net income declining
The
Company's third quarter comparable store sales excluding fuel increased 3.0 percent
"We continue to make progress in a post-inflationary environment affecting our year-over-year comparisons", said Weis Markets, Inc. Chairman, President, and CEO Jonathan H. Weis. "Despite the challenge, we posted a solid comparable store sales increase in the period and generated net income results that remain in line with our expectations."
Mr. Weis continued, "We attribute our results to our popular Weis Rewards loyalty marketing program, continuing investments in our Low, Low Price program of more than 10,000 high-demand products which added 448 household essential items across eight non-food categories during the period, and disciplined store-level efficiencies that help us effectively balance customer experience and cost management. The hard work and commitment of our associates have been crucial to our progress."
Third Quarter 2024 Results
Net sales totaled
The Company's third quarter net income totaled
Year-To-Date 2024 Results
Net sales totaled
The Company's year-to-date net income totaled
Quarterly Cash Dividend
The Weis Markets, Inc. Board of Directors declared on October 31, 2024, 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: competitive and reputational risks; financial, investment and infrastructure risks; information security, cybersecurity and data privacy risks; supply chain and third-party risks; risks created by pandemics (such as the COVID-19 outbreak and the related responses of governments, consumers, customers, suppliers and employees); and legal, regulatory and other external risks. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis based on information currently available to us and speak 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 | |||||||||||||
Third Quarter — 2024 | |||||||||||||
(Unaudited) | |||||||||||||
13 Weeks Ended | 13 Weeks Ended | Increase | |||||||||||
September 28, 2024 | September 30, 2023 | (Decrease) | |||||||||||
Net sales | $ | 1,186,232,000 | $ | 1,160,306,000 | 2.2 | % | |||||||
Income from operations | 29,558,000 | 29,673,000 | (0.4) | % | |||||||||
Income before provision for income taxes | $ | 35,785,000 | $ | 31,856,000 | 12.3 | % | |||||||
Provision for income taxes | 9,945,000 | 8,630,000 | 15.2 | % | |||||||||
Net income | $ | 25,840,000 | $ | 23,226,000 | 11.3 | % | |||||||
Weighted-average shares outstanding | 26,898,443 | 26,898,443 | — | ||||||||||
Basic and diluted earnings per share | $ | 0.96 | $ | 0.86 | $ | 0.10 | |||||||
39 Weeks Ended | 39 Weeks Ended | Increase | |||||||||||
September 28, 2024 | September 30, 2023 | (Decrease) | |||||||||||
Net sales | $ | 3,546,602,000 | $ | 3,483,975,000 | 1.8 | % | |||||||
Income from operations | 89,409,000 | 107,914,000 | (17.1) | % | |||||||||
Income before provision for income taxes | $ | 103,441,000 | $ | 114,230,000 | (9.4) | % | |||||||
Provision for income taxes | 28,178,000 | 30,925,000 | (8.9) | % | |||||||||
Net income | $ | 75,263,000 | $ | 83,305,000 | (9.7) | % | |||||||
Weighted-average shares outstanding | 26,898,443 | 26,898,443 | — | ||||||||||
Basic and diluted earnings per share | $ | 2.80 | $ | 3.10 | $ | (0.30) | |||||||
WEIS MARKETS, INC. TWO-YEAR STACKED COMPARABLE STORE SALES
Third Quarter — 2024 (Unaudited) | |||||||
Percentage Change | |||||||
13 Weeks Ended | |||||||
2024 vs. 2023 | 2023 vs. 2022 | ||||||
Comparable store sales (individual year) | 2.5 | % | 0.8 | % | |||
Comparable store sales (two-year stacked) | 3.3 | ||||||
Comparable store sales, excluding fuel (individual year) | 3.0 | 1.1 | % | ||||
Comparable store sales, excluding fuel (two-year stacked) | 4.1 | % | |||||
Percentage Change | |||||||
39 Weeks Ended | |||||||
2024 vs. 2023 | 2023 vs. 2022 | ||||||
Comparable store sales (individual year) | 2.0 | % | 2.5 | % | |||
Comparable store sales (two-year stacked) | 4.5 | ||||||
Comparable store sales, excluding fuel (individual year) | 2.2 | 3.1 | % | ||||
Comparable store sales, excluding fuel (two-year stacked) | 5.3 | % | |||||
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SOURCE Weis Markets, Inc.
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