Winmark Corp's Net Income Dips in Q1 2024

By Tamara Parker • Wednesday, April 17 15:14 • Permanent Link

Winmark Corporation (NASDAQ: WINA) has reported a net income of $8,819,000 for the quarter ended March 30, 2024, which translates to $2.41 per share diluted. This represents a slight decrease from the same period in 2023 when the net income was $8,942,700, or $2.49 per share diluted.

The company cited its decision in May 2021 to run off its leasing portfolio as a significant factor impacting the results during the quarter. Winmark Corporation, known as "the resale company®," is a franchisor with a focus on sustainability and small business formation.

As of March 30, 2024, there were 1,327 franchises in operation and over 2,800 available territories. Additionally, 73 franchises have been awarded but are not yet open.

These figures indicate a nuanced financial performance for the company, reflecting the impact of strategic decisions and the evolving landscape of its franchising operations. As a result of these announcements, the company's shares have moved 4.2% on the market, and are now trading at a price of $367.6. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.