Business
John B. Sanfilippo & Son, Inc. Reports Fiscal 2025 Second Quarter Results
Second Quarter Sales Volume Increased 7.1% with Volume Growth Across all Distribution Channels. ELGIN, Ill.--(BUSINESS WIRE)-- John B. Sanfilippo & Son, Inc.
About this update from John B. Sanfilippo & Son, Inc.
[{"type":"text","content":"\nSecond Quarter Sales Volume Increased 7.1% with Volume Growth Across all Distribution Channels.\n\n\n ELGIN, Ill.--(BUSINESS WIRE)--\nJohn B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced financial results for its fiscal 2025 second quarter ended December 26, 2024.\n\n\nSecond Quarter Summary\n\n\n\nNet sales increased $9.8 million, or 3.4%, to $301.1 million\n\n\n\nSales volume increased 6.4 million pounds, or 7.1%, to 96.3 million pounds\n\n\n\nGross profit decreased 9.8% to $52.3 million\n\n\n\nDiluted EPS decreased 29.3% to $1.16 per share\n\n\n\nCEO Commentary\n\n\n“We are pleased to report our largest quarterly sales volume and highest quarterly net sales in our company’s history in the second quarter. This achievement was driven by the second consecutive quarter of sales volume increases across all three of our distribution channels as we execute on our Long-Range Plan. Additionally, our bars sales volume increased by approximately 28% over the prior year quarter. We remain encouraged by the sales volume growth across our company and are focused on enhancing profitability through operational efficiencies and optimized pricing strategies,” stated Jeffrey T. Sanfilippo, Chief Executive Officer.\n\n\nSecond Quarter Results\n\n\nNet Sales\n\n\nNet sales for the second quarter of fiscal 2025 increased $9.8 million, or 3.4%, to $301.1 million. This increase is attributed to a 7.1% increase in sales volume (pounds sold to customers) that was partially offset by a 3.4% decrease in the weighted average sales price per pound. The decrease in the weighted average selling price primarily resulted from higher sales volume of lower priced bars, granola and private brand recipe nuts (pecans and walnuts). Additionally, strategic pricing decisions and competitive pricing pressures contributed to the overall decrease in weighted average selling prices and contributed to increased sales volume.\n\n\nSales Volume\n\n\nConsumer Distribution Channel + 2.9%\n\n\n\nPrivate Brand + 4.0%\nThe sales volume increase was driven by a 27.6% growth in bars volume due to a mass merchandising retailer returning to normalized inventory levels. In addition, sales volume increases in pecans, walnuts and snack and trail mix, mainly due to new distribution, contributed to the increase, which was partially offset by a sales volume decr...