Quarterly ResultMay 7, 2026, 05:08 PM
Weyco Group Q1 Net Earnings Up 10% to $6.1M; EPS $0.64; Tariff Refunds Claimed
AI Summary
Weyco Group reported a 10% increase in net earnings to $6.1 million and a 12.3% rise in diluted EPS to $0.64 for the first quarter of 2026, despite consolidated net sales remaining flat. The company also announced it submitted claims for $18.6 million in IEEPA tariff refunds after the U.S. Supreme Court ruled the tariffs invalid. However, a new 10% across-the-board tariff has been implemented, creating near-term gross margin uncertainty.
Key Highlights
- Net earnings increased 10% to $6.1 million for Q1 2026, up from $5.5 million in Q1 2025.
- Diluted EPS rose 12.3% to $0.64 in Q1 2026, compared to $0.57 in Q1 2025.
- Consolidated net sales remained flat at $68.0 million for Q1 2026.
- Earnings from operations increased 7% to $7.5 million in Q1 2026.
- Company submitted claims for $18.6 million in IEEPA tariff refunds following Supreme Court ruling.
- Wholesale segment sales decreased 1%, while Retail segment sales increased 2%.
- Florsheim brand sales grew 5%, but Stacy Adams and BOGS brands saw declines of 9% and 11% respectively.
- Generated $17.4 million cash from operations and paid $23.9 million in dividends in Q1 2026.
Price Impact
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