WEIS MARKETS REPORTS THIRD QUARTER 2024 RESULTS

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].