Weis Markets Reports Earnings Results for Second Quarter of FY2023
August 25, 2023
🌥️Earnings Overview
On August 10th 2023, WEIS MARKETS ($NYSE:WMK) announced their earnings results for the second quarter of their fiscal year 2023, which ended on June 30th 2023. Their total revenue was USD 1178.7 million, a 3.8% increase compared to the same quarter of the previous year. Unfortunately, their net income for the quarter decreased by 5.5% and amounted to USD 34.3 million.
Price History
According to data from the company, their stock opened at $68.4 and closed at $69.2, which is a 1.5% increase from the prior closing price of 68.2. This marks a strong performance for the company, as they have demonstrated an ability to consistently increase their stock value in such a competitive market. The results from the second quarter come off of the heels of a successful first quarter. The success of WEIS MARKETS in the two most recent quarters shows that they are well-positioned to succeed in the near future.
With their strong operational performance and customer loyalty, they are well-prepared to continue to grow their business and increase profits as more people become aware of their products and services. The company is a great example of how focusing on customer satisfaction can result in long-term success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Weis Markets. More…
| Total Revenues | Net Income | Net Margin |
| 4.78k | 117.62 | 2.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Weis Markets. More…
| Operations | Investing | Financing |
| 214.06 | -109.36 | -36.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Weis Markets. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.97k | 628.31 | 50.01 |
Key Ratios Snapshot
Some of the financial key ratios for Weis Markets are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.4% | 2.8% | 3.0% |
| FCF Margin | ROE | ROA |
| 2.0% | 6.8% | 4.6% |
Analysis
GoodWhale has conducted an analysis of WEIS MARKETS‘ financials and based on our Risk Rating, WEIS MARKETS is a low risk investment in terms of financial and business aspects. However, it is important to note that our analysis identified two risk warnings in the income statement and balance sheet. If you would like to learn more about these risks, we invite you to register on our website, goodwhale.com. We are committed to providing investors with the knowledge they need to make informed decisions. More…
Peers
Weis Markets Inc is an American supermarket chain with locations in Pennsylvania, New Jersey, Maryland, Delaware, Virginia, and West Virginia. The company was founded in 1912 by Harry and Sigmund Weis. Hokuyu Lucky Co Ltd is a Japanese supermarket chain. Eco’s Co Ltd is a Colombian supermarket chain. Inageya Co Ltd is a Japanese supermarket chain.
– Hokuyu Lucky Co Ltd ($TSE:2747)
Hokuyo Lucky Co Ltd is a Japanese company that manufactures and sells automotive parts and components. The company has a market cap of 3.91B as of 2022 and a return on equity of 0.84%. The company’s products include engine parts, suspension parts, and body parts. The company also manufactures and sells aftermarket parts and accessories.
– Eco’s Co Ltd ($TSE:7520)
Eco’s Co Ltd is a Japanese company that manufactures and sells electronic and electrical products. It has a market cap of 20.76B as of 2022 and a Return on Equity of 14.35%. The company’s products include televisions, DVD players, and other electronic equipment. It also has a financial services division that offers loans and credit cards.
– Inageya Co Ltd ($TSE:8182)
As of 2022, Imageya Co Ltd has a market cap of 56.86B and a Return on Equity of 1.8%. The company is a provider of digital image processing and management solutions.
Summary
WEIS MARKETS reported their second quarter earnings on August 10 2023 and showed total revenue growth of 3.8% compared to the same quarter a year prior. Net income decreased 5.5% from the previous year to USD 34.3 million. Investors should take into account the revenue growth and consider the company’s overall performance compared to its peers before investing in WEIS MARKETS. It is important to assess the impact of factors such as economic conditions, competition, and strategy changes in order to make an informed decision.
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