John B. Sanfilippo & Son Inc. (JBSS) reports earnings
The report was filed on January 29, 2025
John B. Sanfilippo & Son Inc. (JBSS) has submitted its 10-Q filing for the quarterly period ended December 26, 2024.
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The filing includes financial statements for the quarter, showing an increase in net sales to $301.1 million from $291.2 million in the same quarter the previous year. This increase is attributed to higher sales volume, particularly in snack and nutrition bars.
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Gross profit for the quarter decreased to $52.3 million from $57.9 million in the previous year, with the gross profit margin declining to 17.4% from 19.9%. The decrease in gross profit margin is due to competitive pricing pressures and higher commodity acquisition costs.
Operating expenses for the quarter increased to $32.9 million from $30.3 million, primarily due to higher rent and freight expenses.
Net income for the quarter was $13.6 million, down from $19.2 million in the previous year. Earnings per share were $1.17 basic and $1.16 diluted, compared to $1.65 basic and $1.64 diluted in the previous year.
The company reported cash provided by operating activities of $19.9 million for the first twenty-six weeks of fiscal 2025, a decrease from $61.2 million in the previous year, mainly due to changes in working capital.
Capital expenditures for the first twenty-six weeks of fiscal 2025 were $25.5 million, with plans for further investments to expand production capabilities.
John B. Sanfilippo & Son Inc. continues to focus on growing its private brand business and expanding its product offerings in high-growth snacking segments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the John B. Sanfilippo & Son Inc. quarterly 10-Q report dated January 29, 2025. To report an error, please email [email protected].