WEYCO REPORTS THIRD QUARTER 2026 SALES AND EARNINGS
WEYCO GROUP INC (WEYS) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 WEYCO REPORTS THIRD QUARTER 2026 SALES AND EARNINGS; DECLARES SPECIAL CASH DIVIDEND OF $2.00 PER SHARE Milwaukee, Wisconsin---November 3, 2026---Weyco Group, Inc. (NASDAQ: WEYS) (“we,” “our,” “us” and the “Company”) today announced financial results for the quart
How this was made
The 30-second read
Why it matters
The earnings release provides fresh financial metrics and a special dividend, offering traders a basis for short‑term positioning.
Market read
First‑report earnings with modest scale; likely to generate modest price movement.
What to watch
Fluctuating tariff refunds and foreign currency exposure in Australia may dampen sustainability of gains.
WEYCO REPORTS THIRD QUARTER 2026 SALES AND EARNINGS; DECLARES SPECIAL CASH DIVIDEND OF $2.00 PER SHARE
Third-quarter net sales rose 5%, gross earnings reached 49.7% of net sales, earnings from operations increased to $13.7 million from $8.1 million, and diluted earnings per share increased to $1.19 from $0.69. Results included $3.3 million in tariff refunds recognized in cost of sales.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net sales, three months ended September 30, 2026GAAP | $77.02M | – | up 5% compared to Q3 2025 |
| Gross earnings, three months ended September 30, 2026GAAP | $38.26M | – | – |
| Gross earnings as a percent of net sales, three months ended September 30, 2026GAAP | 49.7% of net sales | – | – |
| Cost of sales, three months ended September 30, 2026GAAP | $38.77M | – | – |
| Selling and administrative expenses, three months ended September 30, 2026GAAP | $24.51M | – | – |
| Earnings from operations, three months ended September 30, 2026GAAP | $13.74M | – | – |
| Interest income, three months ended September 30, 2026GAAP | $882K | – | – |
| Interest expense, three months ended September 30, 2026GAAP | — | – | – |
| Other income (expense), net, three months ended September 30, 2026GAAP | $33K | – | – |
| Earnings before provision for income taxes, three months ended September 30, 2026GAAP | $14.66M | – | – |
| Provision for income taxes, three months ended September 30, 2026GAAP | $3.15M | – | – |
| Net earnings, three months ended September 30, 2026GAAP | $11.51M | – | up from $6.6 million in Q3 2025 |
| Basic earnings per share, three months ended September 30, 2026GAAP | $1.22 | – | – |
| Diluted earnings per share, three months ended September 30, 2026GAAP | $1.19 | – | up from $0.69 in Q3 2025 |
| Weighted average shares outstanding, basic, three months ended September 30, 2026GAAP | 9.46M | – | – |
| Weighted average shares outstanding, diluted, three months ended September 30, 2026GAAP | 9.65M | – | – |
| Cash dividends declared (per share), three months ended September 30, 2026GAAP | $0.28 | – | – |
| Net sales, nine months ended September 30, 2026GAAP | $207.2M | – | – |
| Gross earnings, nine months ended September 30, 2026GAAP | $112.1M | – | – |
| Cost of sales, nine months ended September 30, 2026GAAP | $95.14M | – | – |
| Selling and administrative expenses, nine months ended September 30, 2026GAAP | $73.84M | – | – |
| Earnings from operations, nine months ended September 30, 2026GAAP | $38.27M | – | – |
| Earnings before provision for income taxes, nine months ended September 30, 2026GAAP | $41.59M | – | – |
| Provision for income taxes, nine months ended September 30, 2026GAAP | $10.64M | – | – |
| Net earnings, nine months ended September 30, 2026GAAP | $30.95M | – | – |
| Basic earnings per share, nine months ended September 30, 2026GAAP | $3.28 | – | – |
| Diluted earnings per share, nine months ended September 30, 2026GAAP | $3.23 | – | – |
| Net cash provided by operating activities, nine months ended September 30, 2026GAAP | $26.61M | – | – |
| Purchases of property, plant and equipment, nine months ended September 30, 2026GAAP | −$1.93M | – | – |
| Net cash used for investing activities, nine months ended September 30, 2026GAAP | −$1.53M | – | – |
| Net cash used for financing activities, nine months ended September 30, 2026GAAP | −$30.09M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| North American Wholesale SegmentHigher sales of Florsheim and Stacy Adams, which both increased 9% due mainly to higher sales in the dress shoe category, and BOGS sales, up 6% with volumes up across most major channels. Nunn Bush sales were down 1%. | $64M | – | up 6% from $60.2 million in the third quarter of 2025 |
| North American Retail SegmentHigher sales on the Florsheim website, largely offset by lower sales from closed stores. | $7.2M | – | up 3% from $7.0 million in 2025 |
| Florsheim AustraliaIn local currency, net sales were down 10%, mainly at wholesale. The strengthening of the Australian dollar relative to the U.S. dollar translated the local-currency decline to a 3% decline in U.S. dollars. | $5.8M | – | down 3% from $6.0 million in 2025 |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- On November 3, 2026, the Board declared a regular quarterly cash dividend of $0.28 per share to shareholders of record on November 17, 2026, payable January 8, 2027.
- On November 3, 2026, the Board declared a special cash dividend of $2.00 per share to shareholders of record on November 17, 2026, payable January 8, 2027.
- Cash dividends paid were $(29,368) (Dollars in thousands) for the nine months ended September 30, 2026, versus $(7,731) (Dollars in thousands) in 2025.
- Shares purchased and retired were $(34) (Dollars in thousands) for the nine months ended September 30, 2026, versus $(4,065) (Dollars in thousands) in 2025.
What drove it
- Third-quarter sales increased across North America, led by Florsheim and supported by Stacy Adams and BOGS.
- Wholesale gross earnings as a percent of net sales were 46.0%, compared with 35.7%, primarily due to lower incremental tariff rates and $3.2 million in tariff refunds recognized in the segment upon sale of related inventory.
- Retail gross earnings as a percent of net sales increased to 70.7% from 66.4%, driven mainly by lower incremental tariff rates compared with last year.
- During the third quarter, $3.3 million previously recorded to inventory was recognized as a reduction to cost of sales, comprising $3.2 million in Wholesale and $0.1 million in Retail.
- Wholesale selling and administrative expenses increased primarily due to higher employee costs.
Concerns
- Florsheim Australia operating losses widened to $0.4 million from $0.1 million due to lower wholesale sales.
- Phase 3 tariff refund claims totaling $1.2 million were submitted in early October. Of that amount, $0.4 million had been approved for liquidation while $0.8 million remained under review, and no Phase 3 refunds were recognized in the third quarter.
- The Administration increased the incremental tariff on imports from China, Dominican Republic, and Vietnam to 12.5% on July 24, and the rate remained in effect for the duration of the quarter.
- The company stated that U.S. trade policies continue to evolve and remain unpredictable, creating near-term gross margin uncertainty.
What to watch
- Whether the $0.8 million of Phase 3 tariff refund claims under review is recovered and the timing of any recovery.
- The impact of the 12.5% incremental tariff on imports from China, Dominican Republic, and Vietnam on future gross margins.
- Sustainability of Florsheim wholesale momentum after another record-breaking wholesale quarter.
- Florsheim Australia wholesale sales and operating losses.
Balance sheet and cash flow
- Cash and cash equivalents were $91,159 (Dollars in thousands) at September 30, 2026, compared with $96,006 (Dollars in thousands) at December 31, 2025.
- Marketable securities, at amortized cost, were $2,083 (Dollars in thousands) current and $1,941 (Dollars in thousands) noncurrent at September 30, 2026.
- Inventories were $60,094 (Dollars in thousands) at September 30, 2026, compared with $65,887 (Dollars in thousands) at December 31, 2025.
- Accounts receivable, net, were $49,382 (Dollars in thousands) at September 30, 2026, compared with $38,899 (Dollars in thousands) at December 31, 2025.
- Total assets were $317,802 (Dollars in thousands) at September 30, 2026, compared with $319,667 (Dollars in thousands) at December 31, 2025.
- Total liabilities were $54,266 (Dollars in thousands) at September 30, 2026, compared with $80,099 (Dollars in thousands) at December 31, 2025.
- Net decrease in cash and cash equivalents was $(4,847) (Dollars in thousands) for the nine months ended September 30, 2026, versus a $1,952 (Dollars in thousands) net increase in 2025.
Analysis
Weyco reported a strong third quarter, with net sales of $77,024 (In thousands), up 5% compared to Q3 2025. Gross earnings were $38,255 (In thousands), and gross earnings as a percent of net sales were 49.7%, compared with 40.7% in Q3 2025. Earnings from operations were $13,741 (In thousands), compared with $8,055 (In thousands), while net earnings were $11,511 (In thousands), compared with $6,586 (In thousands). Diluted earnings per share were $1.19, compared with $0.69.
North American Wholesale was the principal growth engine, with net sales of $64.0 million, up 6% from $60.2 million. Florsheim and Stacy Adams sales each increased 9%, mainly from dress shoe sales, while BOGS increased 6% as volumes rose across most major channels. Wholesale gross earnings as a percent of net sales rose to 46.0% from 35.7%, and wholesale operating earnings increased to $13.4 million from $7.5 million. Retail net sales increased 3% to $7.2 million, aided by the Florsheim website, although closed stores offset much of that improvement. Florsheim Australia was the counterweight, as sales declined 3% to $5.8 million and operating losses widened to $0.4 million from $0.1 million.
Tariff items materially enhanced the quarter's profitability. The company recognized $3.3 million previously recorded to inventory as a reduction to third-quarter cost of sales when the related inventory was sold. This comprised $3.2 million in Wholesale and $0.1 million in Retail. Lower incremental tariff rates versus the prior year also aided wholesale and retail gross earnings rates. The release separately notes that the company paid approximately $19.8 million in IEEPA tariffs during 2025 and the first quarter of 2026, and that its second-quarter accounting for approved Phase 1 claims included $15.3 million in tariff refunds as a reduction to cost of sales, $3.3 million as a reduction of inventory, and $0.7 million of interest income.
For the nine months ended September 30, 2026, net sales were $207,245 (In thousands), net earnings were $30,947 (In thousands), and net cash provided by operating activities was $26,609 (Dollars in thousands). Cash and cash equivalents were $91,159 (Dollars in thousands) at September 30, 2026. Capital allocation included cash dividends paid of $(29,368) (Dollars in thousands), and the Board declared both a $0.28 per-share regular quarterly dividend and a $2.00 per-share special cash dividend. The forward margin issue is trade policy: the 12.5% incremental tariff on imports from China, Dominican Republic, and Vietnam was in effect throughout the quarter, and $0.8 million of Phase 3 refund claims remained under review.
Management, verbatim
Our third quarter sales were up across North America, led by our Florsheim brand, and supported by solid performances from our Stacy Adams and BOGS brands.
Thomas W. Florsheim, Jr., Chairman and CEO
Florsheim continued its exceptional momentum, delivering another record-breaking quarter at wholesale, surpassing the brand's prior third-quarter sales record set last year. Sales growth and improved gross margins drove strong profitability for the quarter, further enhanced by tariff refunds. Looking ahead, we remain focused on driving continued sales growth and maximizing profitability across our business lines.
Thomas W. Florsheim, Jr., Chairman and CEO
Not in the filing
stated, not guessed- Forward financial guidance was not provided.
- Previous-period outlook was not provided; therefore, no comparison with prior guidance is available.
- Non-GAAP metrics were not reported.
- Free cash flow was not reported.
- Quarterly operating cash flow was not reported.
- Debt was not separately reported.
- A quarterly or nine-month effective tax rate was not reported.
- Prior-quarter comparisons were not reported for the income statement metrics.
- Segment revenue for the nine months ended September 30, 2026 was not reported.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Weyco Group (NASDAQ: WEYS) designs and markets footwear brands such as Florsheim and Stacy Adams.
Ticker impact
Q3 2026 earnings released with higher sales, earnings and a special $2 dividend.
potential upward pressure as investors price in stronger earnings and special dividend
Revenue and EPS rose year‑over‑year; gross margins improved; special dividend signals cash strength.
Market effects
Footwear sector may see modest lift from Weyco's margin improvement.
North American wholesale segment shows strength, but limited broader impact.
Limited to niche footwear market; no major macro effect.
Counterpoint
Higher costs and tariff uncertainty could weigh on future quarters despite current beat.
Key entities
- ExecutiveThomas W. Florsheim, Jr.
Chairman and CEO who commented on the results.
