Business
John B. Sanfilippo & Son, Inc. Reports Fiscal 2025 Third Quarter Results
Diluted EPS Increased by 49.6% to $1.72 per Diluted Share 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":"\nDiluted EPS Increased by 49.6% to $1.72 per Diluted Share\n\n ELGIN, Ill.--(BUSINESS WIRE)--\nJohn B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced financial results for its fiscal 2025 third quarter ended March 27, 2025.\n\nThird Quarter Summary\n\n\nNet sales decreased $11.0 million, or 4.0%, to $260.9 million\n\n\nSales volume decreased 7.3 million pounds, or 7.9%, to 84.7 million pounds\n\n\nGross profit increased 13.7% to $55.9 million\n\n\nGross margin increased 3.3% to 21.4%\n\n\nDiluted EPS increased 49.6% to $1.72 per share\n\n\nCEO Commentary\n\n“Although we saw a decrease in sales volume during the third quarter, we improved our gross profit and achieved a 50% increase in diluted earnings per share. This was driven by, among other things, strategically controlling our costs and the continued alignment of our selling prices with increasing commodity acquisition costs. Like other snack food companies, our third quarter performance was impacted by a challenging macroeconomic and consumer environment. The sales volume decline, coupled with the risk of additional declines due to rising retail selling prices and changing consumer behavior, underscores our strategic priority to execute on our Long-Range Plan and adapt our strategies to meet evolving customer needs. To support this, we are committed to investing in our future growth, planning to spend approximately $90 million on equipment to expand our domestic production capabilities and improve our related infrastructure by the end of fiscal 2026. This historic investment in production equipment and infrastructure in our U.S. facilities reflects our confidence in domestic manufacturing,” stated Jeffrey T. Sanfilippo, Chief Executive Officer.\n\nThird Quarter Results\n\nNet Sales\n\nNet sales for the third quarter of fiscal 2025 decreased $11.0 million, or 4.0%, to $260.9 million. This decline is attributed to a 7.9% decrease in sales volume (pounds sold to customers) that was partially offset by a 4.2% increase in the weighted average selling price per pound. The increase in the weighted average selling price primarily resulted from higher commodity acquisition costs for all major tree nuts. Sales volume declined for substantially all major product types in the third quarter.\n\nSales Volume\n\nConsumer Distribution Channel -9.2%\n\n\nPrivate Bran...