Weis Markets Inc.: Q1 FY2026 earnings call
What management said about Q1 FY2026, from the documents filed with the SEC on 6 May 2026: press release. The quarter’s numbers.
Key takeaways
- Revenue rose 4.6%: Total revenue reached $1.26 billion for the 13-week quarter ended March 28, 2026, versus $1.20 billion for the year-earlier period. Source
- Comparable sales excluding fuel up 1.2%: Comparable store sales excluding fuel rose 1.2% year over year and 2.2% on a two-year stacked basis. Source
- Net income up 42.5%: Net income was $27.85 million, against $19.55 million a year earlier, a 42.5% increase. Source
- 2025 large projects delivered: In 2025 the company delivered 17 large projects: five new stores, seven major remodels and five fuel centers, as reported at the annual meeting. Source
- Broader promotions and loyalty program: Management said it continues to invest in a broader promotional offering and an enhanced loyalty marketing program aimed at customer value. Source
- Pharmacy revenue hit by drug pricing: Pharmacy revenue growth was reduced by about $7.48 million from pricing headwinds tied to Medicare maximum fair price provisions effective January 1, 2026. Source
- Gross profit rose to $330.2 million: Cost of sales was $925.7 million against $902.5 million. Gross profit on sales was $330.2 million versus $298.2 million, about 26.4% of net sales against 24.9%, a calculation from reported figures. Source
- Record capital program continues: Management highlighted record long-term capital expenditure investments, described as designed to benefit associates and enhance shareholder value. Source
“Together, these efforts contributed to higher comparable sales and income in the first quarter.”
Weis Markets, Inc. Chairman, President, and CEO Jonathan H. Weis
What changed from last quarter
- New: Medicare maximum fair price provisions took effect January 1, 2026 on ten drugs; the prior release does not mention them. Source
Results and growth drivers
- Revenue rose 4.6%: Total revenue reached $1.26 billion for the 13-week quarter ended March 28, 2026, versus $1.20 billion for the year-earlier period. Source
- Comparable sales excluding fuel up 1.2%: Comparable store sales excluding fuel rose 1.2% year over year and 2.2% on a two-year stacked basis. Source
- Net income up 42.5%: Net income was $27.85 million, against $19.55 million a year earlier, a 42.5% increase. Source
- EPS rose to $1.13: Basic and diluted earnings per share were $1.13, against $0.73 a year earlier, on a weighted-average share count that was lower this year. Source
Store count and projects
- Store count is 201: The company reported operating 201 stores across seven Mid Atlantic states, one fewer than the 202 in the prior release. Source
- 2025 large projects delivered: In 2025 the company delivered 17 large projects: five new stores, seven major remodels and five fuel centers, as reported at the annual meeting. Source
- Over 1,000 smaller projects completed: Beyond the large projects, more than 1,000 smaller store and facility projects were completed, including energy-efficient HVAC systems, refrigerated cases and front-end upgrades. Source
“We are grateful to our associates, whose hard work makes these solid results possible,”
Weis Markets, Inc. Chairman, President, and CEO Jonathan H. Weis
Products, promotions and pharmacy
- Broader promotions and loyalty program: Management said it continues to invest in a broader promotional offering and an enhanced loyalty marketing program aimed at customer value. Source
- Facility and technology investments: Management said facility and technology investments are helping lower costs, manage expenses and elevate the customer experience. Source
- Pharmacy revenue hit by drug pricing: Pharmacy revenue growth was reduced by about $7.48 million from pricing headwinds tied to Medicare maximum fair price provisions effective January 1, 2026. Source
Costs and margins
- Gross profit rose to $330.2 million: Cost of sales was $925.7 million against $902.5 million. Gross profit on sales was $330.2 million versus $298.2 million, about 26.4% of net sales against 24.9%, a calculation from reported figures. Source
- Operating expenses rose $18.1 million: Operating, general and administrative expenses were $294.5 million, up from $276.5 million, and income from operations was $35.7 million against $21.8 million. Source
- Tax provision rose to $9.5 million: The provision for income taxes was $9.5 million, against $7.0 million a year earlier, leaving net income of $27.9 million. Source
Income below operations
- Investment income and interest fell: Investment income and interest expense, net, was $0.46 million against $4.41 million. Other income was $1.2 million against $0.36 million. Source
- Pretax income rose to $37.4 million: Income before provision for income taxes was $37.4 million, against $26.5 million in the year-earlier quarter. Source
- Weighted share count fell 8.0%: Weighted-average basic and diluted shares were 24,744,597, against 26,898,443 a year earlier. The documents do not state the reason for the change. Source
Capital and shareholder returns
- Record capital program continues: Management highlighted record long-term capital expenditure investments, described as designed to benefit associates and enhance shareholder value. Source
- Quarterly dividend held at $0.34: The board declared a $0.34 quarterly cash dividend, the same per-share amount as the year-earlier quarter. Source
- Investments aim at efficiency: Management said the investments help the company operate more efficiently and promote a superior customer shopping experience. Source
Coming up, as management said on 6 May 2026
- Dividend payment dates: The $0.34 dividend is payable May 26, 2026 to shareholders of record as of May 11, 2026. Source
Figures management reported
| Figure | Reported |
|---|---|
| Comparable store sales excluding fuel Source | +1.2% (two-year stacked +2.2%) |
| Comparable store sales including fuel Source | +2.1% (two-year stacked +3.0%) |
| Store count Source | 201 (202 in prior release) |
| Gross margin (calculated) Source | 26.4% vs 24.9% a year earlier |
Risks management discussed
- Regulatory: Drug pricing pressure on pharmacy revenue from Medicare maximum fair price provisions effective January 1, 2026 on ten drugs. Source
Earlier plans management reported on
- Met: Management said it delivered 17 large projects in 2025, including five new stores, seven major remodels and five fuel centers. Source
- Not stated: Management said it continues to invest in a broader promotional offering and an enhanced loyalty marketing program. Source
Other quarters
Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.