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John B. Sanfilippo & Son, Inc. Reports Fiscal 2023 Fourth Quarter and Full-Year Results
Company Reports Record Fiscal Year Diluted EPS of $5.40 ELGIN, Ill.--(BUSINESS WIRE)-- John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today
About this update from John B. Sanfilippo & Son, Inc.
[{"type":"text","content":"\nCompany Reports Record Fiscal Year Diluted EPS of $5.40\n\n\n ELGIN, Ill.--(BUSINESS WIRE)--\nJohn B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced financial results for its fiscal 2023 fourth quarter and full fiscal year ended June 29, 2023.\n\n\nFourth Quarter Summary (compared to prior year quarter which contained an extra week)\n\n\n\nNet sales decreased 9.1% to $234.2 million\n\n\n\nSales volume decreased 9.0% to 74.2 million pounds\n\n\n\nGross profit decreased 2.6% to $54.7 million\n\n\n\nDiluted EPS decreased 16.0% to $1.26 per share\n\n\n\nFull Year Summary (compared to prior year which contained an extra week)\n\n\n\nNet sales increased 4.6% to $999.7 million\n\n\n\nSales volume decreased 1.8% to 308.5 million pounds\n\n\n\nGross profit increased 6.0% to $211.6 million\n\n\n\nDiluted EPS increased 1.3% to $5.40 per share\n\n\n\nCEO Commentary\n\n\n“I am very proud of our financial performance in fiscal 2023 as we navigated through a challenging operating environment and elevated levels of inflation and delivered a record diluted earnings per share for the fiscal year,” stated Jeffrey T. Sanfilippo, Chief Executive Officer.\n\n\n“We also achieved an important milestone towards our goal of diversifying our product offerings during the second half of the fiscal year. We launched a new product line of private brand nutrition bars and sold over $4.2 million of this bar product to a number of our key retail partners. Our nutrition bars have been well received by our retail partners and their customers, who enjoy a great product at an attractive price point. We have great momentum as we expect to continue to grow distribution and gain additional private brand nutrition bar customers in subsequent quarters,” Mr. Sanfilippo stated.\n\n\n“In addition, we raised our annual dividend by 6.7% to $0.80 per share and supplemented our annual dividend with a special dividend of $1.20 per share, both of which will be paid on September 13, 2023. This strong performance would not be possible without our talented team members whose conviction, agility and determination are unrivaled,” Mr. Sanfilippo continued.\n\n\n“Looking ahead to fiscal 2024, we are focused on accelerating our volume growth by capitalizing on the success of our private brand nutrition bars, strategically investing in our brands, partnering with ...