$WMK
WEIS MARKETS INC

2020 Q2 Form 10-Q Financial Statement

#000010541820000021 Filed on August 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $1.099B $888.0M $876.7M
YoY Change 23.73% 1.94% 0.07%
Cost Of Revenue $805.8M $651.3M $647.2M
YoY Change 23.72% 3.25% 0.94%
Gross Profit $292.9M $236.7M $229.6M
YoY Change 23.75% -1.51% -2.28%
Gross Profit Margin 26.66% 26.65% 26.18%
Selling, General & Admin $236.9M $210.8M $211.7M
YoY Change 12.38% -1.63% -0.19%
% of Gross Profit 80.88% 89.07% 92.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.90M $23.20M $23.13M
YoY Change 3.02% -0.43% 1.59%
% of Gross Profit 8.16% 9.8% 10.07%
Operating Expenses $236.9M $210.8M $211.7M
YoY Change 12.38% -1.63% -0.19%
Operating Profit $56.00M $26.30M $17.82M
YoY Change 112.96% 1.0% -21.98%
Interest Expense $3.100M $1.100M $2.900M
YoY Change 181.82% 1000.0% -680.0%
% of Operating Profit 5.54% 4.18% 16.27%
Other Income/Expense, Net -$2.618M -$428.0K -$1.841M
YoY Change 511.68%
Pretax Income $56.45M $26.95M $18.87M
YoY Change 109.48% 3.08% -15.39%
Income Tax $14.98M $6.473M $4.570M
% Of Pretax Income 26.53% 24.02% 24.21%
Net Earnings $41.47M $20.48M $14.30M
YoY Change 102.55% 7.23% -11.65%
Net Earnings / Revenue 3.77% 2.31% 1.63%
Basic Earnings Per Share $1.54
Diluted Earnings Per Share $1.54 $762.1K $531.6K
COMMON SHARES
Basic Shares Outstanding 26.90M 26.90M 26.90M
Diluted Shares Outstanding 26.90M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $205.9M $127.2M $108.3M
YoY Change 61.88% 16.48% -14.59%
Cash & Equivalents $108.7M $51.65M $31.79M
Short-Term Investments $97.26M $75.50M $76.50M
Other Short-Term Assets $26.20M $16.40M $23.70M
YoY Change 59.76% -5.75% 20.92%
Inventory $278.5M $266.3M $280.6M
Prepaid Expenses $26.24M $16.44M $23.73M
Receivables $48.54M $54.37M $47.95M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $578.4M $464.3M $460.6M
YoY Change 24.56% 2.53% -0.31%
LONG-TERM ASSETS
Property, Plant & Equipment $887.3M $877.2M $883.3M
YoY Change 1.15% -1.01% -0.01%
Goodwill $52.33M $52.33M $52.33M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.161B $1.138B $1.147B
YoY Change 2.04% 18.57% 19.93%
TOTAL ASSETS
Total Short-Term Assets $578.4M $464.3M $460.6M
Total Long-Term Assets $1.161B $1.138B $1.147B
Total Assets $1.739B $1.602B $1.608B
YoY Change 8.57% 13.43% 13.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $181.1M $168.1M $177.5M
YoY Change 7.75% -12.55% -11.36%
Accrued Expenses $35.78M $24.88M $28.09M
YoY Change 43.8% -54.6% -45.13%
Deferred Revenue $6.244M $5.783M $5.898M
YoY Change 7.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $311.3M $260.8M $277.2M
YoY Change 19.37% 0.85% 5.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $7.641M $8.163M $7.999M
YoY Change -6.39% -84.71% -84.65%
Total Long-Term Liabilities $7.641M $8.163M $7.999M
YoY Change -6.39% -84.71% -88.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $311.3M $260.8M $277.2M
Total Long-Term Liabilities $7.641M $8.163M $7.999M
Total Liabilities $627.8M $559.8M $578.3M
YoY Change 12.14% 39.71% 38.35%
SHAREHOLDERS EQUITY
Retained Earnings $1.250B $1.182B $1.170B
YoY Change 5.76%
Common Stock $9.949M $9.949M $9.949M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $150.9M $150.9M $150.9M
YoY Change 0.0%
Treasury Stock Shares $6.149M $6.149M $6.149M
Shareholders Equity $1.111B $1.042B $1.029B
YoY Change
Total Liabilities & Shareholders Equity $1.739B $1.602B $1.608B
YoY Change 8.57% 13.43% 13.34%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $41.47M $20.48M $14.30M
YoY Change 102.55% 7.23% -11.65%
Depreciation, Depletion And Amortization $23.90M $23.20M $23.13M
YoY Change 3.02% -0.43% 1.59%
Cash From Operating Activities $14.30M $46.30M $32.65M
YoY Change -69.11% 38.62% -35.71%
INVESTING ACTIVITIES
Capital Expenditures -$24.90M -$19.90M $24.44M
YoY Change 25.13% -19.43% 11.9%
Acquisitions
YoY Change
Other Investing Activities -$30.70M $1.700M -$5.300M
YoY Change -1905.88% 6.25%
Cash From Investing Activities -$55.60M -$18.20M -$31.34M
YoY Change 205.49% -21.21% 34.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -8.400M -8.400M -8.339M
YoY Change 0.0% -67.69% -66.84%
NET CHANGE
Cash From Operating Activities 14.30M 46.30M 32.65M
Cash From Investing Activities -55.60M -18.20M -31.34M
Cash From Financing Activities -8.400M -8.400M -8.339M
Net Change In Cash -49.70M 19.70M -7.029M
YoY Change -352.28% -225.48% -405.87%
FREE CASH FLOW
Cash From Operating Activities $14.30M $46.30M $32.65M
Capital Expenditures -$24.90M -$19.90M $24.44M
Free Cash Flow $39.20M $66.20M $8.207M
YoY Change -40.79% 13.94% -71.64%

Facts In Submission

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CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
1029485000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
20475000
CY2019Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
454000
CY2019Q2 us-gaap Dividends
Dividends
8339000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
1042076000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1058745000
us-gaap Net Income Loss
NetIncomeLoss
68161000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1118000
us-gaap Dividends
Dividends
16677000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
1111347000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1022899000
us-gaap Net Income Loss
NetIncomeLoss
34780000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1075000
us-gaap Dividends
Dividends
16677000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
1042076000
us-gaap Net Income Loss
NetIncomeLoss
68161000
us-gaap Net Income Loss
NetIncomeLoss
34780000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
47794000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
46324000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1858000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-806000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-2013000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
848000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
4173000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1057000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-482000
wmk Unrealized Gain Loss In Serp
UnrealizedGainLossInSerp
-383000
wmk Unrealized Gain Loss In Serp
UnrealizedGainLossInSerp
1360000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1351000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-14413000
wmk Increase Decrease In Accounts Receivable And Prepaid Expenses
IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses
-4365000
wmk Increase Decrease In Accounts Receivable And Prepaid Expenses
IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses
-10762000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-6302000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-29423000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
24682000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
2147000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-487000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
139075000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
77606000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
49731000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
44335000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
277000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1320000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
33194000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
4205000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
2675000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
2785000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
-41000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
540000
wmk Payments For Serp Investments
PaymentsForSerpInvestments
677000
wmk Payments For Serp Investments
PaymentsForSerpInvestments
2116000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-80609000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-47091000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16677000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16677000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16677000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16677000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
41789000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
13838000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66871000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37808000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
108660000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
51646000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
750000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9400000
us-gaap Interest Paid Net
InterestPaidNet
19000
us-gaap Interest Paid Net
InterestPaidNet
49000
CY2020Q2 us-gaap Lease Cost
LeaseCost
12280000
CY2019Q2 us-gaap Lease Cost
LeaseCost
12350000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
11546000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
11415000
us-gaap Operating Lease Cost
OperatingLeaseCost
23050000
us-gaap Operating Lease Cost
OperatingLeaseCost
23056000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
2867000
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
2911000
CY2020Q2 us-gaap Investment Income Net
InvestmentIncomeNet
3100000
CY2020Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-91000
CY2019Q2 us-gaap Investment Income Net
InvestmentIncomeNet
1100000
CY2019Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
223000
us-gaap Investment Income Net
InvestmentIncomeNet
-934000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-2000000
us-gaap Investment Income Net
InvestmentIncomeNet
4000000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
848000
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
86445000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4535000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
912000
CY2020Q2 us-gaap Marketable Securities
MarketableSecurities
97256000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
52264000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2091000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
18000
CY2019Q4 us-gaap Marketable Securities
MarketableSecurities
63538000
us-gaap Variable Lease Cost
VariableLeaseCost
5534000
us-gaap Variable Lease Cost
VariableLeaseCost
5554000
us-gaap Lease Cost
LeaseCost
24414000
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
2133000
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
1976000
us-gaap Sublease Income
SubleaseIncome
4170000
CY2020Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
10000
CY2019Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
14000
us-gaap Interest Expense Debt
InterestExpenseDebt
18000
us-gaap Interest Expense Debt
InterestExpenseDebt
33000
CY2020Q2 wmk Percentage Of Facilities Under Operating Lease
PercentageOfFacilitiesUnderOperatingLease
0.51
us-gaap Sublease Income
SubleaseIncome
3850000
us-gaap Lease Cost
LeaseCost
24760000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
210373000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
26297000
CY2019Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-428000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
422105000
us-gaap Operating Income Loss
OperatingIncomeLoss
44118000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2270000
wmk Unrealized Gain Loss In Serp
UnrealizedGainLossInSerp
1360000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
77606000
wmk Payments For Serp Investments
PaymentsForSerpInvestments
2116000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-47091000

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