WEIS MARKETS INC 8-K

What Happened

• Weis Markets, Inc. announced on Feb 19, 2026 that its Audit Committee, after consulting management and the company’s independent auditor RSM US LLP, concluded that previously issued audited and interim consolidated financial statements (the 2024 Annual Report and Q1–Q3 2025 10-Qs) should no longer be relied upon. The issue arose from a reported concern on Feb 9, 2026 about possible overstated inventory related to a single meat-product manufacturing plant. The Audit Committee initiated an internal investigation and engaged outside legal counsel; preliminary results led to the non-reliance determination.

Key Details

• Reported inventory overstatement estimated at up to $22 million as of the quarter ended Sept. 27, 2025.
• As of Sept. 27, 2025 the estimate equals ~6.7% of Inventories (within Current Assets) and ~1.1% of Total Assets on the consolidated balance sheet.
• The affected filings include the Annual Report on Form 10-K for the year ended Dec. 28, 2024 and Quarterly Reports on Form 10-Q for Q1, Q2 and Q3 2025.
• Company says the inventory adjustment would not affect net sales; it is evaluating impacts on internal control over financial reporting and cannot yet estimate timing or final amount of any restatement.

Why It Matters

• For investors, this means Weis Markets’ reported balance sheet figures for the affected periods are unreliable until the company completes its investigations and any required restatements. Although sales (revenue) are not expected to change, the reported inventory and asset balances—and potentially related margins, cost of goods sold or earnings in impacted periods—may be revised. The uncertainty could affect investor confidence and the timing of future financial disclosures; the company has not provided a timeline for restating the affected financials.