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JBSS Nasdaq· John B. Sanfilippo & Son Inc.
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JBSS Nasdaq· John B. Sanfilippo & Son Inc.
Earnings report Q4 2023

John B. Sanfilippo & Son, Inc. Reports 6.2% Increase in Net Sales for Q2 Fiscal 2024

Segments of revenue

  • Net sales for the second quarter of fiscal 2024 were $291.2 million, representing a 6.2% increase compared to the same quarter in fiscal 2023.
  • For the first twenty-six weeks of fiscal 2024, net sales decreased by $1.6 million, or 0.3%, to $525.3 million compared to the same period in fiscal 2023.

Strengths

  • JBSS experienced a significant increase in sales volume, with pounds sold to customers rising by 11.8% in the second quarter of fiscal 2024 compared to the same quarter in fiscal 2023. This indicates strong demand for their products.
  • The company's gross profit increased by $1.4 million in Q2 fiscal 2024, demonstrating effective cost management and operational efficiency.

Challenges

  • Despite the increase in sales volume, the gross profit margin decreased to 19.9% in the second quarter of fiscal 2024, compared to 20.6% in the same quarter of fiscal 2023. This suggests potential challenges in maintaining profitability.

Noteworthy

  • JBSS is a leading processor and distributor of various nuts in the United States, selling under well-known brand names such as Fisher, Orchard Valley Harvest, Squirrel Brand, and Southern Style Nuts.
  • In addition to nuts, the company also offers a diverse product line of food and snack products, including peanut butter, almond butter, cashew butter, candy, confections, snack mixes, and trail mixes.

Summary

John B. Sanfilippo & Son, Inc. reported a strong performance in the second quarter of fiscal 2024, with a 6.2% increase in net sales compared to the same quarter in the previous fiscal year. The company experienced growth in sales volume, indicating strong demand for their products. However, the decrease in gross profit margin raises concerns about maintaining profitability. Overall, JBSS's position as a leading processor and distributor of nuts, along with its diverse product line, provides a solid foundation for future growth and success.

Source documents

Form 10-Q  filed on Feb 01, 2024
119 pages scanned

Reference data

Company financials Q4 revenue 291M
Analyst estimates Q4 EPS missed by NaN%
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