Core Insights - Weis Markets, Inc. reported a 2.7% increase in net sales for the first quarter of 2025, adjusted for the Easter holiday shift, indicating resilience despite macroeconomic challenges [2][3] - The company's net income decreased by 11.6% year-over-year, totaling $20.48 million, with earnings per share dropping from $0.86 to $0.76 [4][11] - The company is investing in long-term capital projects, including the construction of four new stores, aimed at enhancing customer experience and operational efficiency [5][6] Financial Performance - Total net sales and other revenue for the first quarter reached $1.20 billion, up from $1.18 billion in the same period of 2024, reflecting a 1.6% increase [3][11] - Comparable store sales, excluding fuel, increased by 1.0% year-over-year, while two-year stacked comparable store sales rose by 4.3% [3][14] - The cost of sales increased to $901.27 million from $887.19 million, impacting gross profit which rose slightly to $299.50 million from $295.01 million [11] Strategic Initiatives - The company is focusing on strategic cost investments in technology and associates to improve efficiency and customer service [2] - In 2024, Weis Markets completed 17 projects, including six major remodels, and plans to open three new stores by the end of 2025 [5][6] - A quarterly cash dividend of $0.34 per share was declared, reflecting the company's commitment to returning value to shareholders [7]

Group 1 - The article discusses Weis Markets, Inc. (NYSE: WMK) and its performance following the Q2 earnings release, maintaining a 'Hold' rating due to growth issues faced by the company [1] - The company is characterized as a Pennsylvanian supermarket retailer, indicating its regional focus and market positioning [1] Group 2 - The article does not provide any specific financial metrics or performance data related to Weis Markets, Inc. [1]

Financial Performance - Total revenue for the fiscal year ended December 28, 2024, was $4,791.73 million, an increase from $4,714.57 million in 2023, representing a growth of 1.64%[141]. - Net income for the fiscal year 2024 was $109.94 million, compared to $103.83 million in 2023, reflecting an increase of 5.09%[141]. - Gross profit for 2024 was $1,204.08 million, up from $1,179.56 million in 2023, indicating a growth of 2.07%[141]. - The company reported a weighted-average basic and diluted earnings per share of $4.09 for 2024, up from $3.86 in 2023, a growth of 5.95%[141]. - Net income for the fiscal year ended December 28, 2024, was $109.941 million, a 5.4% increase from $103.828 million in 2023[148]. - Total shareholders' equity increased to $1.446 billion as of December 28, 2024, up from $1.374 billion in 2023, reflecting a growth of 5.2%[145]. Expenses and Costs - Employee-related costs comprised approximately 55.7% of total operating expenses, with direct store labor increasing by 0.2% in 2024 compared to 2023[99]. - The net lease cost for the fiscal year ended December 28, 2024, was $46.686 million, a decrease from $48.312 million in 2023, indicating a reduction of approximately 3.4%[199]. - The total retirement plan costs for the fiscal year ended December 28, 2024, were $4.388 million, down from $7.578 million in 2023, showing a decline of approximately 42.9%[206]. - The company reported a depreciation and amortization expense of $113.875 million for 2024, up from $108.438 million in 2023[148]. - Advertising expenses before vendor paid cooperative advertising credits were $25.5 million in 2024, up from $24.2 million in 2023, indicating a growth of 5.4%[183]. Cash Flow and Investments - Net cash provided by operating activities decreased to $187.5 million in 2024 from $201.6 million in 2023[113]. - Cash flows from operating activities for 2024 were $187.467 million, compared to $201.602 million in 2023, indicating a decrease of 7%[148]. - The investment portfolio totaled $192.0 million as of December 28, 2024, consisting of high-grade bonds and large-cap equity securities[108]. - The Company recognized investment income of $18.6 million in 2024, which included an unrealized gain in equity securities of $1.0 million, compared to $9.5 million in 2023[192]. - The company’s SERP investments reported an investment income of $3.4 million in 2024, down from an investment loss of $3.8 million in 2022, showing a significant recovery[194]. Assets and Liabilities - The total assets of the company increased to $2,107.44 million in 2024 from $2,039.63 million in 2023, reflecting a growth of 3.32%[138]. - The company’s total liabilities decreased slightly to $661.41 million in 2024 from $665.30 million in 2023, a decline of 0.28%[138]. - The company’s inventories increased to $308.90 million in 2024 from $296.16 million in 2023, marking a rise of 4.93%[138]. - The company’s accounts receivable increased to $81.57 million in 2024 from $65.09 million in 2023, a rise of 25.38%[138]. - The company had accounts receivable due from vendors of $318 thousand for earned advertising credits as of December 28, 2024[181]. Capital Expenditures and Acquisitions - Capital expenditures totaled $168.5 million in 2024, representing 3.5% of sales, an increase from 2.2% in 2023[115]. - The company completed a business acquisition in 2024 for cash consideration totaling $16.2 million[115]. - The company invested $161.349 million in property and equipment during 2024, an increase from $104.010 million in 2023[148]. - The total property and equipment at cost increased to $2,766.765 million in 2024 from $2,608.932 million in 2023, representing a growth of about 6.0%[197]. Taxation - The effective income tax rate was 26.8% in 2024, down from 29.2% in 2023, primarily due to state taxes and nondeductible expenses[106]. - The Company recognized deferred tax assets and liabilities based on enacted tax rates expected to apply to taxable income in future years[176]. Dividends - The company paid dividends of $36.6 million in 2024, consistent with 2023, and increased the quarterly dividend from $0.32 to $0.34 per share in Q4 2022[116]. - Dividends paid remained consistent at $36.582 million for both 2024 and 2023, compared to $34.968 million in 2022[148]. - The company maintained a dividend of $1.36 per share for both 2024 and 2023, indicating stability in its dividend policy[141].

Financial Performance - Fiscal Year 2024 net sales totaled $4.77 billion, an increase of 1.6% compared to $4.70 billion in 2023[6] - Fourth Quarter 2024 net sales reached $1.23 billion, up 1.2% from $1.21 billion in the same period of 2023[4] - Fiscal Year 2024 net income was $109.94 million, a 5.9% increase from $103.83 million in 2023[7] - Fourth Quarter 2024 net income totaled $34.68 million, representing a 69.0% increase compared to $20.52 million in 2023[5] - Earnings per share for Fiscal Year 2024 were $4.09, up from $3.86 in 2023[7] Sales Growth - E-commerce sales increased by 46% in 2024, contributing to overall sales growth[3] - Comparable store sales excluding fuel for Fiscal Year 2024 rose by 1.9% year-over-year and 4.2% on a two-year stacked basis[6] Store Development - The company completed 12 major store development projects and began construction on four new stores in growing markets[3] Dividends - A quarterly cash dividend of $0.34 per share was declared, payable on March 4, 2025[8] Technology Integration - The company integrated technology to improve efficiencies and manage expenses while enhancing customer experience[3]

Core Points - Weis Markets, Inc. has promoted Bob Gleeson to Chief Operating Officer (COO) [1][2] - As COO, Mr. Gleeson will oversee various departments including merchandising, marketing, advertising, store operations, information technology, asset protection, pharmacy, and supply chain [2] - Mr. Gleeson has been with the company since 2018, holding several leadership positions prior to this promotion [3] Company Overview - Weis Markets, Inc. was founded in 1912 and operates 198 stores across multiple states including Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia, and Virginia [4]

Oil & Gas Industry Analysis - The oil and gas industry is described as a cyclical, boom-bust sector that requires patience and experience to navigate effectively [2] - Long-term focus and expertise are emphasized as critical for success in this industry [2] Weis Markets Overview - Weis Markets (NYSE: WMK) is a long-established company that has maintained consistent operations over the years [2] - The company recently announced the purchase of its third store in the current fiscal year, indicating ongoing expansion efforts [2] Research Methodology - The analysis focuses on identifying undervalued companies in the oil and gas sector through comprehensive research [1] - Key aspects of company evaluation include balance sheet analysis, competitive positioning, and development prospects [1] - Exclusive research and analysis are provided to members of the Oil & Gas Value Research service, offering insights not available on the free platform [1]

Financial Performance - Net sales for the third quarter of 2024 totaled $1.19 billion, an increase of 2.2% compared to $1.16 billion in the same period of 2023[3] - Net income for the third quarter was $25.84 million, up 11.3% from $23.23 million in 2023[4] - Year-to-date net sales reached $3.55 billion, reflecting a 1.8% increase from $3.48 billion in the same period of 2023[5] - Year-to-date net income totaled $75.26 million, down 9.7% from $83.31 million in 2023[6] - Earnings per share for the third quarter were $0.96, compared to $0.86 per share in 2023[4][11] Sales Growth - Comparable store sales excluding fuel increased by 3.0% year-over-year and 4.1% on a two-year stacked basis[3][13] - Year-to-date comparable store sales excluding fuel increased by 2.2% year-over-year and 5.3% on a two-year stacked basis[5][14] - The Weis Rewards loyalty marketing program contributed to the sales increase, alongside investments in over 10,000 high-demand products[2] Product Expansion - The company added 448 household essential items across eight non-food categories during the quarter[2] Dividend Declaration - The company declared a quarterly cash dividend of $0.34 per share, payable on November 26, 2024[7]

Core Viewpoint - Weis Markets, Inc. reported a solid performance in the third quarter of 2024, with comparable store sales increasing despite a challenging post-inflationary environment [2][3]. Financial Performance - Net sales for the third quarter totaled $1.19 billion, a 2.2% increase from $1.16 billion in the same period of 2023 [3][11]. - Comparable store sales excluding fuel increased by 3.0% year-over-year and 4.1% on a two-year stacked basis [3][13]. - Net income for the third quarter was $25.84 million, up 11.3% from $23.23 million in 2023, with earnings per share rising to $0.96 from $0.86 [4][11]. Year-To-Date Results - Year-to-date net sales reached $3.55 billion, a 1.8% increase from $3.48 billion in the same period of 2023 [5][12]. - Year-to-date comparable store sales excluding fuel increased by 2.2% year-over-year and 5.3% on a two-year stacked basis [5][13]. - Year-to-date net income totaled $75.26 million, down 9.7% from $83.31 million in 2023, with earnings per share decreasing to $2.80 from $3.10 [6][12]. Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.34 per share, payable on November 26, 2024, to shareholders of record as of November 12, 2024 [7]. Company Overview - Weis Markets, Inc. operates 198 stores across several Mid Atlantic states, including Pennsylvania, Maryland, and New York, and has been in operation since 1912 [8].

Financial Performance - Second quarter net sales totaled $1.18 billion, a slight increase of 0.2% compared to the same period in 2023[2] - Comparable store sales for the second quarter increased 1.7% when adjusted for the Easter holiday shift, and 0.5% on a year-over-year basis[10] - Year-to-date net sales reached $2.36 billion, up 1.6% from $2.32 billion in the same period of 2023[3] - Second quarter net income decreased by 23.4% to $26.26 million, down from $34.27 million in 2023[2] - Year-to-date net income totaled $49.42 million, a decline of 17.7% compared to $60.08 million in 2023[3] - Second quarter earnings per share were $0.98, down from $1.27 per share in 2023[2] - Year-to-date earnings per share decreased to $1.84 from $2.23 in the same period of 2023[3] Pricing and Promotions - The company increased price investments by lowering prices on 600 high-demand dairy items as part of its Low, Low, Price program[1] - The Weis Rewards loyalty marketing program has been enhanced to offer more fuel and retail product savings[1] Operational Focus - The company continues to focus on operational efficiencies and cost management discipline amid a challenging market environment[1]

Core Insights - Weis Markets, Inc. reported a 1.7% increase in comparable store sales adjusted for the Easter holiday shift in Q2 2024, despite a challenging market environment [2][12]. Financial Performance - Net sales for Q2 2024 totaled $1.18 billion, a slight increase of 0.2% compared to $1.18 billion in Q2 2023. The company estimates a negative impact of $14 million or 1.2% on net sales due to the Easter holiday shift [3][11]. - Net income for Q2 2024 was $26.26 million, down 23.4% from $34.27 million in Q2 2023. Earnings per share decreased to $0.98 from $1.27 [4][11]. - Year-to-date net sales reached $2.36 billion, up 1.6% from $2.32 billion in the same period of 2023. Year-to-date comparable store sales increased by 1.8% year-over-year [5][11]. - Year-to-date net income was $49.42 million, a decrease of 17.7% from $60.08 million in 2023, with earnings per share falling to $1.84 from $2.23 [6][11]. Strategic Initiatives - The company has increased price investments by lowering prices on 600 high-demand dairy items as part of its Low, Low, Price program, which offers savings on over 10,000 products [2]. - Weis Markets continues to invest in its Weis Rewards loyalty marketing program, enhancing customer savings on fuel and retail products [2]. Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.34 per share, payable on August 12, 2024, to shareholders of record as of July 29, 2024 [7]. Company Overview - Weis Markets, Inc. operates 196 stores across several Mid-Atlantic states, including Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia, and Virginia [8].