WEIS MARKETS, INC_March 28, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

[X]

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 28, 2026

[ ]

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________to_________

Commission File Number 1-5039

WEIS MARKETS, INC.

(Exact name of registrant as specified in its charter)


Pennsylvania		24-0755415
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

1000 S. Second Street
P. O. Box 471		17801-0471
Sunbury, Pennsylvania		(Zip Code)
(Address of principal executive offices)


Registrant’s telephone number, including area code: (570) 286-4571	Registrant’s web address: www.weismarkets.com

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer [X]		Accelerated filer [ ]
Non-accelerated filer [ ]		Smaller reporting company [ ]
		Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

Securities registered pursuant to section 12(b) of the act:


Title of each class	Trading symbol	Name of exchange on which registered
Common stock, no par value	WMK	New York Stock Exchange

As of May 7, 2026, there were 24,744,597 shares outstanding of the registrant’s common stock.

WEIS MARKETS, INC.

TABLE OF CONTENTS


FORM 10-Q		Page
Part I. Financial Information
Item 1. Financial Statements
Condensed Consolidated Balance Sheets		1
Condensed Consolidated Statements of Income		2
Condensed Consolidated Statements of Comprehensive Income		3
Condensed Consolidated Statements of Shareholders’ Equity		4
Condensed Consolidated Statements of Cash Flows		5
Notes to Condensed Consolidated Financial Statements		6
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		11
Item 3. Quantitative and Qualitative Disclosures about Market Risk		17
Item 4. Controls and Procedures		17
Part II. Other Information
Item 5. Other Information		19
Item 6. Exhibits		19
Signatures		20
Exhibit 31.1 Rule 13a-14(a) Certification – CEO
Exhibit 31.2 Rule 13a-14(a) Certification – CFO
Exhibit 32 Certification Pursuant to 18 U.S.C. Section 1350

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WEIS MARKETS, INC.

PART I – FINANCIAL INFORMATION

ITEM I – FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)


(amounts in thousands, except shares)	* *	March 28, 2026			December 27, 2025
Assets
Current:
Cash and cash equivalents		$	97,718		$	117,091
Marketable securities			101,123			97,091
SERP investment			32,058			33,391
Accounts receivable, net			98,183			95,416
Inventories			298,680			287,532
Federal income taxes recoverable			1,250			6,094
State income taxes recoverable			—			530
Prepaid expenses and other current assets			45,566			44,090
Total current assets			674,578			681,235
Property and equipment, net			1,095,146			1,089,945
Operating lease right-to-use			166,712			165,070
Goodwill			65,691			65,691
Intangible and other assets, net			24,741			25,418
Total assets		$	2,026,868		$	2,027,359

Liabilities
Current:
Accounts payable		$	237,467		$	237,371
Accrued expenses			25,661			41,458
Operating leases			39,673			39,640
Accrued self-insurance			16,307			20,186
Deferred revenue, net			10,761			14,072
State income taxes payable			688			—
Total current liabilities			330,557			352,727
Postretirement benefit obligations			32,278			33,391
Accrued self-insurance			25,138			25,147
Operating leases			134,100			132,454
Deferred income taxes			129,583			126,850
Other			4,628			4,880
Total liabilities			656,284			675,449
Shareholders’ Equity
Common stock, no par value, 100,800,000 shares authorized, 33,047,807 shares issued, 24,744,597 shares outstanding			9,949			9,949
Retained earnings			1,655,414			1,635,974
Accumulated other comprehensive income (loss) (Net of deferred taxes of $893 in 2026 and $626 in 2025)			(2,522)			(1,756)
			1,662,841			1,644,167
Treasury stock at cost, 8,303,210 shares			(292,257)			(292,257)
Total shareholders’ equity			1,370,584			1,351,910
Total liabilities and shareholders’ equity		$	2,026,868		$	2,027,359

See accompanying notes to Condensed Consolidated Financial Statements.

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WEIS MARKETS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(unaudited)


		13 Weeks Ended
(amounts in thousands, except shares and per share amounts)		March 28, 2026		March 29, 2025
Net sales	$	1,251,718	$	1,196,805
Other revenue		4,194		3,971
Total revenue		1,255,912		1,200,776
Cost of sales, including advertising, warehousing and distribution expenses		925,665		902,538
Gross profit on sales		330,247		298,238
Operating, general and administrative expenses		294,545		276,466
Income from operations		35,702		21,772
Investment income (loss) and interest expense		462		4,411
Other income (expense)		1,212		357
Income before provision for income taxes		37,376		26,540
Provision for income taxes		9,523		6,991
Net income	$	27,853	$	19,549

Weighted-average shares outstanding, basic and diluted		24,744,597		26,898,443
Cash dividends per share	$	0.34	$	0.34
Basic and diluted earnings per share	$	1.13	$	0.73

See accompanying notes to Condensed Consolidated Financial Statements.

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WEIS MARKETS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(unaudited)


	13 Weeks Ended
(amounts in thousands)		March 28, 2026		March 29, 2025
Net income	$	27,853	$	19,549
Other comprehensive income (loss) by component, net of tax:
Available-for-sale marketable securities
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $267 in 2026 and $132 in 2025)		(766)		(405)
Other comprehensive income gain (loss), net of tax		(766)		(405)
Comprehensive income, net of tax	$	27,087	$	19,144

See accompanying notes to Condensed Consolidated Financial Statements.

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WEIS MARKETS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(unaudited)


						Accumulated
(amounts in thousands, except shares)						Other						Total
For the Thirteen Weeks Ended	Common Stock			Retained		Comprehensive		Treasury Stock				Shareholders’
March 28, 2026 and March 29, 2025	Shares	Amount		Earnings		Income (Loss)		Shares		Amount		Equity
Balance at December 27, 2025	33,047,807	$	9,949	$	1,635,974	$	(1,756)		8,303,210	$	(292,257)	$	1,351,910
Net income	—		—		27,853		—		—		—		27,853
Other comprehensive income (loss), net of tax	—		—		—		(766)		—		—		(766)
Dividends paid	—		—		(8,413)		—		—		—		(8,413)
Balance at March 28, 2026	33,047,807	$	9,949	$	1,655,414	$	(2,522)		8,303,210	$	(292,257)	$	1,370,584

Balance at December 28, 2024	33,047,807	$	9,949	$	1,577,402	$	(2,859)		6,149,364	$	(150,857)	$	1,433,635
Net income	—		—		19,549		—		—		—		19,549
Other comprehensive income (loss), net of tax	—		—		—		(405)		—		—		(405)
Dividends paid	—		—		(9,145)		—		—		—		(9,145)
Balance at March 29, 2025	33,047,807	$	9,949	$	1,587,805	$	(3,264)		6,149,364	$	(150,857)	$	1,443,633

See accompanying notes to Condensed Consolidated Financial Statements.

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WEIS MARKETS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)


	13 Weeks Ended
(amounts in thousands)		March 28, 2026		March 29, 2025
Cash flows from operating activities:
Net income	$	27,853	$	19,549
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation and amortization		31,456		29,623
(Gain) loss on disposition of fixed assets		82		264
Unrealized (gain) loss in value of equity securities		—		(1,066)
Deferred income taxes		3,000		(868)
Unrealized (gain) loss in SERP		1,284		1,199
Changes in operating assets and liabilities:
Inventories		(11,148)		(4,000)
Accounts receivable and prepaid expenses		(4,243)		(2,016)
Accounts payable and other liabilities		(24,229)		(43,074)
Income taxes		6,062		5,893
Other		131		(648)
Net cash provided by operating activities		30,248		4,856
Cash flows from investing activities:
Purchase of property and equipment		(39,323)		(33,180)
Proceeds from the sale of property and equipment		3,247		74
Purchase of marketable securities		(11,087)		(14,610)
Proceeds from the sale and maturities of marketable securities		5,906		36,924
Acquisition of business		—		(7,468)
Change in SERP investment		49		157
Net cash used in investing activities		(41,208)		(18,103)
Cash flows from financing activities:
Dividends paid		(8,413)		(9,145)
Net cash used in financing activities		(8,413)		(9,145)
Net increase (decrease) in cash and cash equivalents		(19,373)		(22,392)
Cash and cash equivalents at beginning of year		117,091		190,323
Cash and cash equivalents at end of period	$	97,718	$	167,931

See accompanying notes to Condensed Consolidated Financial Statements. In the first thirteen weeks of 2026, there was $461 thousand cash paid for income taxes compared to $2.0 million in 2025 for the same period. Cash paid for interest related to long-term debt was $13 thousand and $10 thousand in the first thirteen weeks of 2026 and 2025, respectively.

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WEIS MARKETS, INC.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)

(1) Significant Accounting Policies

Basis of Presentation: The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring deferrals and accruals) considered necessary for a fair presentation have been included. The operating results for the periods presented are not necessarily indicative of the results to be expected for the full year. The Company has evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited Condensed Consolidated Financial Statements and there were no material subsequent events which require additional disclosure. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in the Company’s latest Annual Report on Form 10-K.

(2) Current Relevant Accounting Standards

The Company regularly monitors recently issued accounting standards and assesses their applicability and future impact. The Company believes there are three accounting standard updates (ASU) that will have an impact on the Company’s disclosures.

In November 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"), which requires incremental disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses. The new guidance is effective for annual reporting periods after December 15, 2026, and interim periods with annual reporting periods beginning after December 15, 2027. Early adoption of ASU 2024-03 is permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"), which modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages. The new standard requires entities to consider whether significant development uncertainty has been resolved before starting to capitalize software costs and aligns disclosure requirements with ASC 360, Property, Plant, and Equipment. The ASU is effective for annual and interim reporting periods beginning after December 15, 2027, and can be applied prospectively, retrospectively, or using a modified transition method, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s consolidated financial statements and disclosures.

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”), which clarifies the guidance in Topic 270 to improve the consistency of interim financial reporting. The ASU provides guidance on the form and content of interim financial statements, adds a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The ASU is effective for interim reporting periods in fiscal years beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s consolidated financial statements and disclosures.

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WEIS MARKETS, INC.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)

(3) Marketable Securities

The Company’s marketable securities are all classified as available-for-sale within “Current Assets” in the Company’s Condensed Consolidated Balance Sheets. The FASB has established three levels of inputs that may be used to measure fair value:

Level 1Observable inputs such as quoted prices in active markets for identical assets or liabilities;

Level 2Observable inputs, other than Level 1 inputs in active markets, that are observable either directly or indirectly; and

Level 3Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.

The Company’s bond and commercial paper portfolio is valued using Level 2 inputs. The Company’s bond and commercial paper portfolio is valued using a combination of pricing for similar securities, recently executed transactions, cash flow models with yield curves and other pricing models utilizing observable inputs, which are considered Level 2 inputs.

For Level 2 investment valuation, the Company utilizes standard pricing procedures of its investment advisory firm(s) which include various third-party pricing services. These procedures also require specific price monitoring practices as well as pricing review reports, valuation oversight and pricing challenge procedures to maintain the most accurate representation of investment fair market value.

The Company accrues interest on its bond and commercial paper portfolio throughout the life of each bond and commercial paper held. Unrealized gains and losses on debt securities are recognized in “Accumulated other comprehensive income (loss)” on the Company’s Condensed Consolidated Balance Sheets. Dividends from the equity securities are recognized as received. Interest, dividends and unrealized gains and losses on equity securities are recognized in “Investment income (loss) and interest expense” on the Company’s Condensed Consolidated Statements of Income. In the thirteen weeks ended March 28, 2026, the Company recognized investment income of $1.7 million. In the thirteen weeks ended March 29, 2025, the Company recognized investment income of $4.8 million, which included an unrealized gain in equity securities of $1.1 million. As of March 28, 2026, the Company held no equity securities and the marketable securities portfolio consisting of high grade corporate and municipal bonds and commercial paper totaled $101.1 million.

Marketable securities, as of March 28, 2026 and December 27, 2025, consisted of:


			Gross		Gross
(amounts in thousands)	Amortized		Unrealized		Unrealized		Fair
March 28, 2026	Cost Basis		Holding Gains		Holding Losses		Value
Available-for-sale:
Level 2
Corporate and municipal bonds	$	94,651	$	1,855	$	(5,328)	$	91,178
Commercial paper		9,887		58		—		9,945
Total	$	104,538	$	1,913	$	(5,328)	$	101,123

Gross

SEC Form 10-Q filed by Weis Markets Inc.