Weis Markets, Inc. (WMK) SEC Filings & Earnings Calls

Operating expense inflation

“Operating, general and administrative expenses increased 8.3% in Q2 2026 vs Q2 2025, driven by higher employee costs, utilities, and outside services.”

Competitive pressure

“Management acknowledges some competitors have greater financial resources and could use these resources to take measures which could adversely affect the Company’s competitive position.”

Pharmacy revenue headwind from Inflation Reduction Act Medicare maximum fair price provisions.

“Pharmacy revenue growth unfavorably impacted by approximately $10.71 million in Q2 and $18.19 million YTD from IRA pricing headwinds.”

Customers focused on affordability, requiring increased promotional investment.

“CEO: 'Customers remain focused on affordability and value... we have increased our investment in promotions and targeted loyalty marketing.'”

Material weakness in internal controls over financial reporting

“The Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were not effective for the periods covered through March 28, 2026.” · word for word

Inventory overstatement and restatement exposure

“The material weakness resulted in an overstatement of inventory in our previously issued financial statements.” · word for word

Increased operating expenses

“Operating, general and administrative expenses increased 6.5% to $294.5 million, driven by higher employee expenses, outside services and repairs, and utilities.”

Pharmacy revenue impacted by Inflation Reduction Act pricing headwinds.

“Pharmacy revenue growth was unfavorably impacted by approximately $7.48 million due to pricing headwinds associated with the Inflation Reduction Act Medicare maximum fair price (MFP) provisions” · word for word

Restatement of historical financial statements due to inventory overstatement introduces accounting and litigation risk.

“the impact to, and associated restatement of, its historical financial statements related to the incorrect recording of certain overstated inventory amounts” · word for word

Cautious consumer spending environment may pressure future sales growth.

“Despite ongoing cautious customer spending” · word for word

Inventory restatement and material weakness

“This restatement related to the Company’s overstatement of certain inventory amounts related to a single meat product manufacturing plant.” · word for word

Tariff risk on input costs

“In 2025, the United States and foreign governments imposed tariffs on specific goods imported from certain trading partners. These current or proposed tariffs could result in an adverse and uncertain economic environment.” · word for word

Litigation risk from former COO

“Kurt Schertle, the former Chief Operating Officer and Secretary of the Company, filed the claim... The Company does not believe the demand received on November 4, 2025 has any merit and will vigorously dispute any claim for payment.” · word for word

Inventory Restatement and Internal Control Weakness

“On March 12, 2026 , the Company filed its Form 10-K for the fiscal year ended December 27, 2025 in which the Company restated certain prior financial statements due to an overstatement of certain inventory amounts related to a single meat product manufacturing plant.” · word for word

Controlled Company Governance Risk

“The Weis family, consisting of Jonathan H. Weis, Chairman, President and Chief Executive Officer, the Estate of Patricia G. Ross Weis, Jennifer Weis, Colleen Ross Weis, Ellen W. P. Wasserman, Kathryn J. Zox, Thomas H. Platz, James A. Platz and EKTJ Management LLC control approximately 61% of the voting power of the Company.” · word for word

Low Trading Volume and Stock Price Disconnect from Performance

“As is common with controlled companies, the Company has a low trading volume. Due to such low trading volume and for other reasons, historically the Company's stock price has not been driven by financial results but rather by general market fluctuations and dividend return.” · word for word

Inventory overstatement restatement risk; potential material weakness in internal controls.

“Incorrect recording of certain overstated inventory amounts; restatement of historical financial statements.” · word for word

Material restatement of financial statements for FY2022-2024 and Q1-Q3 2025 due to inventory overstatement.

“concluded that the Company's previously issued audited consolidated financial statements ... should no longer be relied upon” · word for word

Potential material weakness in internal controls over financial reporting; SEC and legal exposure.

“The Company is also evaluating the impact of this matter on internal controls over financials reporting.” · word for word

Restatement timeline uncertain; may delay future filings and impact lender/covenant compliance.

“The Company is unable at this time to estimate the timing for completion of the filing of any restatements” · word for word

Operating expense pressure

“Operating, general and administrative expenses increased 7.9% in Q3 2025 vs prior year, outpacing sales growth.”

Cash depletion

“Cash and cash equivalents decreased from $190.3M to $54.7M due to share repurchase and capex.”

Earnings miss: net income down 29.4% due to higher costs and prior-year gain.

“Net income totaled $18.23 million compared to $25.84 million in 2024, down 29.4 percent.” · word for word

Cautious consumer spending and macroeconomic uncertainty.

“Despite ongoing cautious consumer spending and macroeconomic uncertainty in the third quarter.” · word for word