WEIS MARKETS Reports Strong Earnings Results for Third Quarter of Fiscal Year 2023
December 10, 2023
☀️Earnings Overview
On September 30, 2023, WEIS MARKETS ($NYSE:WMK) reported a total revenue of USD 1160.3 million for the third quarter of Fiscal Year 2023, indicating a year-over-year growth of 0.8%. Unfortunately, net income for the quarter decreased by 18.9% to USD 23.2 million compared to the same period in the previous year.
Stock Price
The company’s stock opened at $61.4 and closed at $62.5, up by 3.0% from the previous closing price of $60.7. This marked the highest closing price for WEIS MARKETS in over a year. The impressive earnings results were primarily driven by strong sales growth in both food and non-food categories.
The company also reported an increase in gross margin and operating income, further bolstering their strong earnings results. Overall, these strong earnings results further cement WEIS MARKETS’ leadership position in the grocery market. 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 |
| 4.79k | 112.19 | 2.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Weis Markets. More…
| Operations | Investing | Financing |
| 118.84 | -162.57 | -36.58 |
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 |
| 1.93k | 576.5 | 50.5 |
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 |
| 6.3% | -3.9% | 3.0% |
| FCF Margin | ROE | ROA |
| 0.1% | 6.5% | 4.6% |
Analysis
At GoodWhale, we assess companies’ fundamentals by using our Star Chart and Health Score ratings. After taking a look at WEIS MARKETS‘s Star Chart, it is safe to say that the company is strong in asset, dividend, and medium in growth, profitability. We classify WEIS MARKETS as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. This type of company would be particularly attractive to value investors, those who are looking for steady income and long-term gains. Additionally, WEIS MARKETS has a high health score of 10/10 with regard to its cashflows and debt, indicating that the company is capable to sustain future operations during times of crisis. 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
Investors responded positively to Weis Markets’ financial results for the third quarter of Fiscal Year 2023, as the company reported total revenue of USD 1160.3 million, representing a year-over-year increase of 0.8%. Despite this, the reported net income for the quarter was USD 23.2 million, which is an 18.9% decrease compared to the same period in the previous year. This caused some concern among investors, however, the stock price still moved up on the day of the announcement. Going forward, investors should closely monitor Weis Markets’ performance and consider potential risks in order to decide whether the company is a good investment opportunity.
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