US Market News
1月前
John B. Sanfilippo & Son, Inc. Reports Fiscal 2026 Third Quarter ResultsApril 29, 2026 4:10 PM
Business Wire
Third Quarter Net Sales Increased 8.0% to a Record $281.8 Million
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced financial results for its fiscal 2026 third quarter ended March 26, 2026.
Third Quarter Summary
Net sales increased $20.9 million, or 8.0%, to $281.8 million
Sales volume remained essentially flat, declining slightly to 84.4 million pounds
Gross profit decreased 3.8% to $53.8 million
Diluted EPS decreased 16.9% to $1.43 per share
CEO Commentary
“We delivered another strong quarter with solid top line growth, supported by our continued focus on driving volume across all three sales channels. Total volume held steady with the prior year’s comparable quarter, and the sequential quarter improvement is an early indication that our volume growth initiatives are beginning to gain traction. In particular, we are encouraged by the improved performance in our commercial ingredients and contract manufacturing channels in the quarter. Our diversified multi-channel sales model, serving at-home consumer demand, away from home food service customers, and strategic contract manufacturing partnerships, continues to be a key competitive advantage, positioning us to capture growth opportunities wherever they emerge in the marketplace. This strategic channel mix enables us to navigate shifting consumption patterns and perform across varied end markets. Our teams are actively identifying additional opportunities to drive future volume growth, leveraging our new and existing manufacturing capabilities and supporting the onboarding of a new strategic customer in the contract manufacturing channel. We are encouraged by the progress we are making and remain confident in the opportunities ahead,” stated Jeffrey T. Sanfilippo, Chief Executive Officer.
Third Quarter Results
Net Sales
Net sales for the third quarter of fiscal 2026 increased $20.9 million, or 8.0%, to $281.8 million. This increase was driven by an 8.3% increase in the weighted average selling price per pound. Sales volume (pounds sold to customers) remained essentially flat; in particular, sales volume declined for substantially all major product types in the third quarter but increased for walnuts, pecans and mixed nuts. The increase in the weighted average selling price primarily reflected pricing actions taken in response to higher commodity acquisition costs for all major tree nuts and peanuts as well as a shift in product mix toward higher priced items in the current quarter.
Sales Volume
Consumer Distribution Channel -4.5%
The sales volume decrease was primarily driven by a 5.3% decline in private brand sales, reflecting lower volume in private label bars while nuts and trail mix sales volume remained relatively flat. Bar sales were impacted by continued category softness at a mass merchandise retailer, consistent with the trends seen in our most recent second quarter. Our strategic decision to reduce sales to a grocery store retailer also contributed to the overall decline in bar volume. Sales of nuts and trail mix were negatively impacted by elevated retail prices, reduced promotional activity and discontinuation of underperforming items. These impacts were largely offset by new private branded walnut distribution at an existing grocery retailer and increased sales resulting from promotional pricing on walnuts and peanuts at an online retailer. In addition, branded sales benefited from limited opportunistic orders for Orchard Valley Harvest to a customer in the non-food sector.
Commercial Ingredients Distribution Channel +14.3%
This sales volume increase was mainly driven by higher food service sales volume at existing customers and sales to two new customers. In addition, increased sales of peanut crushing stock contributed to the overall growth in the quarterly comparison.
Contract Manufacturing Distribution Channel +16.5%
This sales volume increase was driven by increased snack nut sales to a significant new customer as we continue onboarding this customer that we added in the second quarter of the prior year. This increase was partially offset by decreased granola sales volume.
Gross Profit
Gross profit decreased by $2.1 million to $53.8 million and gross margin declined to 19.1% from 21.4%. This decrease was primarily due to significantly lower inventory valuation adjustments compared to the prior year quarter, partially offset by higher net sales.
Operating Expenses, net
Total operating expenses increased $2.3 million in the quarterly comparison primarily due to higher incentive compensation expenses. This increase was partially offset by lower compensation costs, lower rent expenses and a gain on the sale of non-core equipment. Total operating expenses as a percentage of net sales remained unchanged at 10.6%
Inventory
The value of total inventories on hand at the end of the current third quarter decreased $5.2 million, or 2.0%. The decrease was primarily due to lower commodity acquisition costs for walnuts and peanuts, as well as lower on-hand quantities of pecans, walnuts and almonds. These reductions were partially offset by the impact of higher pecan acquisition costs and increased on-hand quantities of peanuts. The weighted average cost per pound of raw nut and dried fruit input stock on hand increased 10.5% year over year mainly due to the reasons noted above.
Nine Month Results
Net sales increased 6.8% to $895.2 million. The increase in net sales was primarily attributable to a 11.0% increase in weighted average selling price per pound, which was partially offset by a 3.7% decrease in sales volume.
Sales volume decreased 3.7%, primarily due to lower sales volume in the consumer channel, which was partially offset by sales volume increase in the commercial ingredients channel.
Gross profit margin increased from 18.5% to 18.7% of net sales. This increase was mainly attributable to aligning our pricing more closely with commodity acquisition costs, the absence of a one-time pricing concession recognized in the prior period and the factors noted above.
Operating expenses remained essentially flat at $90.3 million.
Diluted EPS increased 17.6%, or $0.68 per diluted share, to $4.55.
In closing, Mr. Sanfilippo commented, “We remain attentive to category trends and continue to monitor consumer sentiment, which is showing early signs of stabilizing. At the same time, we recognize that rising global tensions in certain key regions and the resulting impact on energy prices and supply chain dynamics are contributing to ongoing uncertainty. As a result, we are maintaining a nimble mindset as we move forward. I want to thank all of our employees for their continued dedication as we stay focused on executing our strategy and driving sustainable long-term value for our shareholders.”
Conference Call
The Company will host an investor conference call and webcast on Thursday, April 30, 2026, at 10:00 a.m. Eastern (9:00 a.m. Central) to discuss these results. To register for the call, please click on the Participant Registration by register using this link: https://register-conf.media-server.com/register/BIfa80603ce45d4f61b4c7eb9610d20e9b. After registering, an email will be sent, including dial-in details and a unique access code required to join the live call. Please ensure you have registered at least 15 minutes prior to the conference call time. This call is also being webcast by Notified and can be accessed at the Company’s website at www.jbssinc.com.
About John B. Sanfilippo & Son, Inc.
Based in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit products and snack bars, that are sold under the Company’s Fisher®, Orchard Valley Harvest®, Squirrel Brand® and Southern Style Nuts® brand names and under a variety of private brands.
Forward Looking Statements
Some of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as “will,” “intends,” “may,” “believes,” “anticipates,” “should” and “expects” and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such as a decline in sales to one or more key customers, or to customers or in the nut and bars categories generally, in some or all channels, a change in product mix to lower price products, a decline in sales of private brand products or changing consumer preferences, including a shift from higher margin products to lower margin products; (ii) changes in the availability and costs of raw materials and ingredients due to global conflict, tariffs and other import restrictions and the impact of fixed price commitments with customers; (iii) the ability to pass on price increases to customers if commodity costs rise and the potential for a negative impact on demand for, and sales of, our products from price increases; (iv) the ability to measure and estimate bulk inventory, fluctuations in the value and quantity of the Company’s nut inventories due to fluctuations in the market prices of nuts and bulk inventory estimation adjustments, respectively; (v) the Company’s ability to appropriately respond to, or lessen the negative impact of, competitive and pricing pressures; (vi) losses associated with product recalls, product contamination, food labeling or other food safety issues, or the potential for lost sales or product liability if customers lose confidence in the safety of the Company’s products or in nuts or nut products in general, or are harmed as a result of using the Company’s products; (vii) the ability of the Company to control costs (including inflationary costs) and manage shortages or other disruptions in areas such as inputs, transportation and labor; (viii) uncertainty in economic conditions, including the potential for inflation or economic downturn leading to decreased consumer demand; (ix) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company’s control, including the impact of tariff refunds with respect to us and our customers; (x) the adverse effect of labor unrest or disputes, litigation and/or legal settlements, including potential unfavorable outcomes exceeding any amounts accrued; (xi) losses due to significant disruptions at any of our production or processing facilities, our inability to meet or fulfill customer orders on a timely basis, if at all, or employee unavailability due to labor shortages; (xii) the ability to implement our Long-Range Plan, including growing our branded and private brand product sales, diversifying our product offerings (including by the launch of new products) and expanding into alternative sales channels; (xiii) technology disruptions or failures or the occurrence of cybersecurity incidents or breaches; (xiv) the inability to protect the Company’s brand value, intellectual property or avoid intellectual property disputes; and (xv) our ability to manage the impacts of changing weather patterns on raw material availability due to climate change.
JOHN B. SANFILIPPO & SON, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except per share amounts)
For the Quarter Ended
For the Thirty-Nine Weeks Ended
March 26,
2026
March 27,
2025
March 26,
2026
March 27,
2025
Net sales
$
281,779
$
260,907
$
895,239
$
838,170
Cost of sales
228,008
205,014
728,205
683,482
Gross profit
53,771
55,893
167,034
154,688
Operating expenses:
Selling expenses
19,262
18,630
58,285
61,089
Administrative expenses
10,724
9,066
31,972
29,026
Total operating expenses
29,986
27,696
90,257
90,115
Income from operations
23,785
28,197
76,777
64,573
Other expense:
Interest expense
523
1,055
2,010
2,343
Rental and miscellaneous expense, net
576
638
1,726
1,396
Pension expense (excluding service costs)
389
362
1,167
1,084
Total other expense, net
1,488
2,055
4,903
4,823
Income before income taxes
22,297
26,142
71,874
59,750
Income tax expense
5,449
5,989
18,343
14,343
Net income
$
16,848
$
20,153
$
53,531
$
45,407
Basic earnings per common share
$
1.44
$
1.73
$
4.58
$
3.90
Diluted earnings per common share
$
1.43
$
1.72
$
4.55
$
3.87
Weighted average shares outstanding
— Basic
11,716,987
11,669,939
11,692,775
11,650,378
— Diluted
11,798,355
11,735,709
11,761,660
11,721,054
JOHN B. SANFILIPPO & SON, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)
March 26,
2026
June 26,
2025
March 27,
2025
ASSETS
CURRENT ASSETS:
Cash
$
1,291
$
585
$
1,295
Accounts receivable, net
85,239
76,656
74,538
Inventories
252,620
254,600
257,798
Prepaid expenses and other current assets
12,989
14,583
15,565
352,139
346,424
349,196
PROPERTIES, NET:
241,334
178,219
174,383
OTHER LONG-TERM ASSETS:
Intangibles, net
15,348
16,178
16,490
Deferred income taxes
—
5,782
3,605
Operating lease right-of-use assets
25,768
27,824
28,871
Equipment deposits
6,200
12,438
10,019
Other assets
9,880
10,738
7,412
57,196
72,960
66,397
TOTAL ASSETS
$
650,669
$
597,603
$
589,976
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Revolving credit facility borrowings
$
31,152
$
57,584
$
89,602
Current maturities of long-term debt
3,827
941
790
Accounts payable
73,092
60,479
51,966
Bank overdraft
726
294
942
Accrued expenses
44,374
36,748
30,691
153,171
156,046
173,991
LONG-TERM LIABILITIES:
Long-term debt, less current maturities
40,672
14,564
5,765
Retirement plan
29,200
27,921
27,082
Long-term operating lease liabilities
21,933
24,224
25,304
Deferred income taxes
3,638
—
—
Other
14,406
14,151
11,221
109,849
80,860
69,372
STOCKHOLDERS' EQUITY:
Class A Common Stock
26
26
26
Common Stock
92
92
92
Capital in excess of par value
142,342
139,724
138,687
Retained earnings
245,829
221,495
207,968
Accumulated other comprehensive income
564
564
1,044
Treasury stock
(1,204
)
(1,204
)
(1,204
)
TOTAL STOCKHOLDERS’ EQUITY
387,649
360,697
346,613
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
$
650,669
$
597,603
$
589,976
View source version on businesswire.com: https://www.businesswire.com/news/home/20260429646478/en/
Company:
Frank S. Pellegrino
Chief Financial Officer
847-214-4138
Investor Relations:
John Beisler or Steven Hooser
Three Part Advisors, LLC
817-310-8776
Original: John B. Sanfilippo & Son, Inc. Reports Fiscal 2026 Third Quarter Results
US Market News
2月前
John B. Sanfilippo & Son, Inc. Declares $1.50 Per Share Special DividendMarch 30, 2026 4:10 PM
Business Wire
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced that its Board of Directors (the “Board”) declared a special cash dividend (the “Special Dividend”) of $1.50 per share on all issued and outstanding shares of Common Stock of the Company and $1.50 per share on all issued and outstanding shares of Class A Common Stock of the Company. The Special Dividend will return approximately $17.6 million to Company stockholders.
The Special Dividend will be paid on May 21, 2026, to stockholders of record as of the close of business on April 27, 2026.
“We are pleased to announce the $1.50 per share Special Dividend,” stated Jeffrey T. Sanfilippo, Chairman and Chief Executive Officer. “Our financial performance over the last several quarters has enabled us to declare another Special Dividend in the current fiscal year. This Special Dividend, along with the special dividends and annual dividend previously paid by the Company, brings the total cash returned to our stockholders to $4.00 per share in the current fiscal year. This Special Dividend, like our previous dividends, underscores our commitment to creating long-term stockholder value through the disciplined and responsible use of cash. Furthermore, this Special Dividend would not be possible without the hard work and dedication of all our employees,” Mr. Sanfilippo concluded.
ABOUT THE COMPANY
John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit-based products, snack bars, and dried cheese snacks that are sold under a variety of private brands and under the Company’s Fisher®, Orchard Valley Harvest®, Squirrel Brand™, and Southern Style Nuts® brand names.
Forward Looking Statements
Some of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as “will”, “intends”, “may”, “believes”, “anticipates”, “should” and “expects” and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such as a decline in sales to one or more key customers, or to customers or in the nut and bars categories generally, in some or all channels, a change in product mix to lower price products, a decline in sales of private brand products or changing consumer preferences, including a shift from higher margin products to lower margin products; (ii) changes in the availability and costs of raw materials and ingredients due to tariffs and other import restrictions and the impact of fixed price commitments with customers; (iii) the ability to pass on price increases to customers if commodity costs rise and the potential for a negative impact on demand for, and sales of, our products from price increases; (iv) the ability to measure and estimate bulk inventory, fluctuations in the value and quantity of the Company’s nut inventories due to fluctuations in the market prices of nuts and bulk inventory estimation adjustments, respectively; (v) the Company’s ability to appropriately respond to, or lessen the negative impact of, competitive and pricing pressures; (vi) losses associated with product recalls, product contamination, food labeling or other food safety issues, or the potential for lost sales or product liability if customers lose confidence in the safety of the Company’s products or in nuts or nut products in general, or are harmed as a result of using the Company’s products; (vii) the ability of the Company to control costs (including inflationary costs) and manage shortages or other disruptions in areas such as inputs, transportation and labor; (viii) uncertainty in economic conditions, including the potential for inflation or economic downturn leading to decreased consumer demand; (ix) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company’s control; (x) the adverse effect of labor unrest or disputes, litigation and/or legal settlements, including potential unfavorable outcomes exceeding any amounts accrued; (xi) losses due to significant disruptions at any of our production or processing facilities, our inability to meet or fulfill customer orders on a timely basis, if at all, or employee unavailability due to labor shortages; (xii) the ability to implement our Long-Range Plan, including growing our branded and private brand product sales, diversifying our product offerings (including by the launch of new products) and expanding into alternative sales channels; (xiii) technology disruptions or failures or the occurrence of cybersecurity incidents or breaches; (xiv) the inability to protect the Company’s brand value, intellectual property or avoid intellectual property disputes; and (xv) our ability to manage the impacts of changing weather patterns on raw material availability due to climate change.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260330418957/en/
Company
Frank S. Pellegrino
Chief Financial Officer
847-214-4138
Investor Relations
John Beisler or Steven Hooser
Three Part Advisors, LLC
817-310-8776
Original: John B. Sanfilippo & Son, Inc. Declares $1.50 Per Share Special Dividend
US Market News
4月前
John B. Sanfilippo & Son, Inc. Reports Fiscal 2026 Second Quarter ResultsJanuary 29, 2026 4:10 PM
Business Wire
Record Breaking Net Sales Drove a Diluted EPS Increase of 31.9% to $1.53 per Share
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced financial results for its fiscal 2026 second quarter ended December 25, 2025.
Second Quarter Summary
Net sales increased $13.7 million, or 4.6%, to $314.8 million
Sales volume decreased 9.3 million pounds, or 9.7%, to 87.0 million pounds
Gross profit increased 13.2% to $59.2 million
Diluted EPS increased 31.9% to $1.53 per share
CEO Commentary
“We delivered strong top-line growth and achieved an approximately 32% increase in diluted earnings per share for the quarter, driven by executing our ongoing strategic initiatives of disciplined cost management, operational efficiencies and strategic pricing actions. While these results are encouraging, we continue to navigate headwinds from shifting consumer behavior, emerging health and wellness trends and elevated retail selling prices, which weighed on overall sales volume. However, we have a strong and diverse set of products that align with these emerging health and wellness trends and priorities, and we are further expanding our pipeline with new innovations to capitalize on these trends and growth opportunities. We believe that the recent reduction in trade tariffs on most imported nuts, primarily cashews, should help lower selling prices of certain products over time and support future demand. I am confident that we have the right team, capabilities and focus to navigate this dynamic environment successfully, capitalize on growth opportunities and deliver long-term value for our shareholders,” stated Jeffrey T. Sanfilippo, Chief Executive Officer.
Second Quarter Results
Net Sales
Net sales for the second quarter of fiscal 2026 increased $13.7 million, or 4.6%, to $314.8 million. This increase was primarily driven by a 15.8% increase in the weighted average selling price per pound, which was partially offset by a 9.7% decline in sales volume (pounds sold to customers). The increase in the weighted average selling price per pound was largely attributable to higher commodity acquisition costs for all major tree nuts and peanuts. Sales volume decreased across most major product types. Approximately half of the sales volume decline was attributable to granola sold in the contract manufacturing channel, a non-core and temporary business opportunity, while our core business of walnuts, almonds, and pecans achieved volume growth during the quarter.
Sales Volume
Consumer Distribution Channel -8.4%
The decrease in sales volume was primarily driven by a 7.9% decline in private brand sales, due to lower volumes in private label bars and, to a lesser extent, nuts and trail mix. Nuts and trail mix sales were impacted by higher retail prices, soft demand, including consumer downsizing, and reduced distribution at a major mass merchandiser. These declines were partially offset by new business with an existing customer and improved performance at another mass merchandiser. Bar sales declined as prior year’s volumes were elevated by low industry-wide inventory levels and the lingering impact of a national brand recall, which temporarily boosted private label bars demand. A strategic reduction in sales to one grocery retailer also contributed to the bars decline. Branded sales were negatively impacted by lost distribution of Orchard Valley Harvest at a major non-food customer and the timing of Fisher snack promotions also at a major non-food customer.
Commercial Ingredients Distribution Channel -1.1%
Sales volume remained relatively unchanged, with a decline of 1.1%.
Contract Manufacturing Distribution Channel -26.5%
This reduction in sales volume was primarily driven by the decreased granola volume processed at our Lakeville facility, which was partially offset by increased snack nut sales to a customer added during the second quarter of the prior year.
Gross Profit
Gross profit increased $6.9 million to $59.2 million and gross profit margin increased to 18.8% of net sales from 17.4% of net sales in the prior year’s second quarter. This improvement was primarily driven by higher net sales during the quarter, with selling prices more closely aligned with commodity acquisition costs compared to the second quarter of the prior year. Additionally, reduced manufacturing spending and operational efficiencies contributed to the overall increase in gross profit.
Operating Expenses, net
Total operating expenses were essentially flat compared to the prior year’s second quarter, increasing by $0.3 million. The slight increase was primarily driven by higher incentive compensation, largely offset by lower marketing, insights, freight, third-party warehouse and compensation costs. As a percentage of net sales, total operating expenses declined to 10.5% from 10.9% in the prior comparable quarter, reflecting the factors noted above, and a higher net sales base.
Inventory
The value of total inventories on hand at the end of the current second quarter increased $29.6 million, or 14.4%. The increase was driven by higher commodity acquisition costs across all major nut types except for peanuts and inshell walnuts, as well as greater on-hand quantities of work in process and finished goods inventory to support forecasted demand. The weighted average cost per pound of raw nut and dried fruit input stock on hand increased 11.8% year over year primarily due to higher acquisition costs for all major tree nuts except for inshell walnuts, partially offset by lower acquisition cost of peanuts and lower on-hand quantities of almonds and cashews.
Six Month Results
Net Sales increased 6.3% to $613.5 million. The increase in net sales was primarily attributable to a 12.2% increase in weighted average selling price per pound, which was partially offset by a 5.3% decrease in sales volume.
Sales volume decreased 5.3%, primarily due to lower sales volume in the consumer and contract manufacturing channels, partially offset by year-to-date growth in the commercial ingredient channel.
Gross profit margin increased to 18.5% of net sales compared to 17.1% in the prior period. The increase was mainly attributable to the factors noted above and a one-time pricing concession in the prior year first quarter to a bar customer that did not recur in this fiscal year.
Operating expenses decreased $2.1 million to $60.3 million. The decrease in total operating expenses was primarily driven by lower marketing and insights spending, reduced third-party warehouse costs, decreased freight expenses, lower compensation and lower third-party recruitment expenses. These savings were partially offset by an increase in incentive compensation.
Diluted EPS increased 44.4%, or $0.96 per diluted share, to $3.12.
In closing, Mr. Sanfilippo commented, “We remain committed to driving growth and profitability to deliver long-term value to our shareholders. At the start of the third quarter, we distributed a special dividend of $1.00 per share, reflecting our strong financial position and disciplined capital allocation strategy. This return of capital to our shareholders occurred concurrently with one of the largest capital expenditure initiatives in our Company’s history. These strategic investments position us to enhance operational efficiency, expand production capacity and capture emerging market opportunities to support sustained growth and profitability.”
Conference Call
The Company will host an investor conference call and webcast on Friday, January 30, 2026, at 10:00 a.m. Eastern (9:00 a.m. Central) to discuss these results. To register for the call, please click on the Participant Registration by register using this link: Conference Registration. After registering, an email will be sent, including dial-in details and a unique access code required to join the live call. Please ensure you have registered at least 15 minutes prior to the conference call time.
This call is also being webcast by Notified and can be accessed at the Company’s website at www.jbssinc.com.
About John B. Sanfilippo & Son, Inc.
Based in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit products, bars, and dried cheese snacks, that are sold under the Company’s Fisher ®, Orchard Valley Harvest ®, Squirrel Brand ®, Southern Style Nuts ® and Just the Cheese ® brand names and under a variety of private brands.
Forward Looking Statements
Some of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as “will”, “intends”, “may”, “believes”, “anticipates”, “should” and “expects” and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such as a decline in sales to one or more key customers, or to customers or in the nut and bars categories generally, in some or all channels, a change in product mix to lower price products, a decline in sales of private brand products or changing consumer preferences, including a shift from higher margin products to lower margin products; (ii) changes in the availability and costs of raw materials and ingredients due to tariffs and other import restrictions and the impact of fixed price commitments with customers; (iii) the ability to pass on price increases to customers if commodity costs rise and the potential for a negative impact on demand for, and sales of, our products from price increases; (iv) the ability to measure and estimate bulk inventory, fluctuations in the value and quantity of the Company’s nut inventories due to fluctuations in the market prices of nuts and bulk inventory estimation adjustments, respectively; (v) the Company’s ability to appropriately respond to, or lessen the negative impact of, competitive and pricing pressures; (vi) losses associated with product recalls, product contamination, food labeling or other food safety issues, or the potential for lost sales or product liability if customers lose confidence in the safety of the Company’s products or in nuts or nut products in general, or are harmed as a result of using the Company’s products; (vii) the ability of the Company to control costs (including inflationary costs) and manage shortages or other disruptions in areas such as inputs, transportation and labor; (viii) uncertainty in economic conditions, including the potential for inflation or economic downturn leading to decreased consumer demand; (ix) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company’s control; (x) the adverse effect of labor unrest or disputes, litigation and/or legal settlements, including potential unfavorable outcomes exceeding any amounts accrued; (xi) losses due to significant disruptions at any of our production or processing facilities, our inability to meet or fulfill customer orders on a timely basis, if at all, or employee unavailability due to labor shortages; (xii) the ability to implement our Long-Range Plan, including growing our branded and private brand product sales, diversifying our product offerings (including by the launch of new products) and expanding into alternative sales channels; (xiii) technology disruptions or failures or the occurrence of cybersecurity incidents or breaches; (xiv) the inability to protect the Company’s brand value, intellectual property or avoid intellectual property disputes; and (xv) our ability to manage the impacts of changing weather patterns on raw material availability due to climate change.
JOHN B. SANFILIPPO & SON, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except per share amounts)
For the Quarter Ended
For the Twenty-Six Weeks Ended
December 25,
December 26,
December 25,
December 26,
2025
2024
2025
2024
Net sales
$
314,777
$
301,067
$
613,460
$
577,263
Cost of sales
255,608
248,816
500,197
478,468
Gross profit
59,169
52,251
113,263
98,795
Operating expenses:
Selling expenses
21,143
22,620
39,023
42,459
Administrative expenses
12,051
10,262
21,248
19,960
Total operating expenses
33,194
32,882
60,271
62,419
Income from operations
25,975
19,369
52,992
36,376
Other expense:
Interest expense
503
772
1,487
1,288
Rental and miscellaneous expense, net
574
347
1,150
758
Pension expense (excluding service costs)
389
361
778
722
Total other expense, net
1,466
1,480
3,415
2,768
Income before income taxes
24,509
17,889
49,577
33,608
Income tax expense
6,552
4,294
12,894
8,354
Net income
$
17,957
$
13,595
$
36,683
$
25,254
Basic earnings per common share
$
1.54
$
1.17
$
3.14
$
2.17
Diluted earnings per common share
$
1.53
$
1.16
$
3.12
$
2.16
Weighted average shares outstanding
— Basic
11,690,152
11,647,791
11,680,669
11,640,598
— Diluted
11,739,426
11,710,091
11,743,313
11,713,727
JOHN B. SANFILIPPO & SON, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)
December 25,
June 26,
December 26,
2025
2025
2024
ASSETS
CURRENT ASSETS:
Cash
$
2,400
$
585
$
336
Accounts receivable, net
79,823
76,656
81,200
Inventories
235,427
254,600
205,842
Prepaid expenses and other current assets
19,566
14,583
19,320
337,216
346,424
306,698
PROPERTIES, NET:
187,613
178,219
174,129
OTHER LONG-TERM ASSETS:
Intangibles, net
15,560
16,178
16,807
Deferred income taxes
—
5,782
3,900
Operating lease right-of-use assets
26,941
27,824
29,019
Equipment deposits
40,475
12,438
7,203
Other assets
9,924
10,738
7,497
92,900
72,960
64,426
TOTAL ASSETS
$
617,729
$
597,603
$
545,253
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Revolving credit facility borrowings
$
10,000
$
57,584
$
49,753
Current maturities of long-term debt
3,131
941
834
Accounts payable
79,897
60,479
64,585
Bank overdraft
2,763
294
1,953
Dividends payable
11,704
—
—
Accrued expenses
40,911
36,748
32,937
148,406
156,046
150,062
LONG-TERM LIABILITIES:
Long-term debt, less current maturities
28,839
14,564
5,969
Retirement plan
28,794
27,921
26,773
Long-term operating lease liabilities
23,142
24,224
25,754
Deferred income taxes
3,935
—
—
Other
14,489
14,151
11,064
99,199
80,860
69,560
STOCKHOLDERS' EQUITY:
Class A Common Stock
26
26
26
Common Stock
92
92
92
Capital in excess of par value
141,665
139,724
137,858
Retained earnings
228,981
221,495
187,815
Accumulated other comprehensive income
564
564
1,044
Treasury stock
(1,204
)
(1,204
)
(1,204
)
TOTAL STOCKHOLDERS’ EQUITY
370,124
360,697
325,631
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
$
617,729
$
597,603
$
545,253
View source version on businesswire.com: https://www.businesswire.com/news/home/20260129356587/en/
Company:
Frank S. Pellegrino
Chief Financial Officer
847-214-4138
Investor Relations:
John Beisler or Steven Hooser
Three Part Advisors, LLC
817-310-8776
Original: John B. Sanfilippo & Son, Inc. Reports Fiscal 2026 Second Quarter Results
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