Welcome to our dedicated page for Armanino Foods Distinction news (Ticker: AMNF), a resource for investors and traders seeking the latest updates and insights on Armanino Foods Distinction stock.
News for Armanino Foods of Distinction, Inc. (OTCQX: AMNF) centers on its role as a producer and marketer of premium frozen Italian and specialty foods, with a particular focus on pesto, sauces, and filled pastas. Company updates frequently highlight performance in the foodservice, retail, and industrial markets across North America and select international regions.
Investors following AMNF news will see regular coverage of quarterly and annual financial results, where the company reports on net sales, gross profit, operating income, and net income. These releases often discuss growth in foodservice and international channels, margin trends, and the impact of operational efficiencies, pricing discipline, and sourcing strategies on profitability.
Armanino Foods also issues news about its capital allocation decisions, including quarterly cash dividends, dividend increases, and the progress of its share repurchase program. The company has emphasized a long history of consecutive quarterly dividends and multiple special dividends, reflecting its shareholder-focused philosophy.
Operational and strategic updates appear regularly in AMNF news, such as investments in automation, equipment upgrades, and manufacturing capacity, as well as initiatives to expand distribution and customer acquisition in the United States and abroad. Releases also describe efforts to build a globally relevant sauce platform, expand its pesto and sauce portfolio, and deepen relationships with foodservice operators, including quick service restaurants and national accounts.
Leadership and governance developments, including appointments to executive roles and board transitions, are another recurring theme. For readers tracking the company, this news feed provides ongoing insight into Armanino Foods’ financial performance, product and channel strategy, and approach to growth and shareholder returns.
Armanino Foods of Distinction (OTCQX: AMNF) has appointed Deanna Jurgens as its new President and Chief Executive Officer, effective May 12, 2025. Jurgens, who will also join the Board of Directors, brings extensive food industry experience from her previous roles.
Most recently, as Chief Sales Officer at Bonduelle Americas, she led the $650 million fresh business, achieving the largest share gains in five years. Previously, as President of North America and Global Chief Growth Officer at Beyond Meat, she established global partnerships with McDonalds and YUM Brands. Her 16-year tenure at PepsiCo included managing Frito-Lay's largest region, generating over $3B in annual revenue.
The company, known for manufacturing frozen Italian specialty food items, sees this appointment as strategic for its next growth phase. Jurgens has been recognized by Fortune as one of the 'Most Powerful Women – Next Gen'.
Armanino Foods of Distinction (OTCQX: AMNF) has announced the filing of its OTCQX 2024 Annual Financial Disclosure, now available on the OTC Markets website. The company specializes in manufacturing and marketing frozen Italian specialty food items across foodservice, retail, and industrial markets.
Their product portfolio includes various pesto flavors (Basil, Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper), specialty sauces (Southwest Chipotle, Artichoke, Roasted Garlic, Chimichurri, Harissa, Bolognese, Alfredo), an organic Basil Pesto line, cheese shakers, frozen pastas, and meatballs.
Armanino Foods (OTCQX: AMNF) has filed for a 15-day extension with OTC Markets for its 2024 Annual Financial Disclosure. The delay is attributed to additional accounting requirements following the company's recent uplisting to OTCQX Best Market and the departure of the CEO in January, which led to the CFO assuming the Acting CEO role.
Board Chairman Douglas Nichols confirmed that management is working to complete the audit within the extension period, with the timeline dependent on the new independent auditing firm's procedures. Despite these temporary reporting delays, the company's operations remain robust, with expectations to report record sales and net income for Q1 2025.
Armanino Foods specializes in manufacturing frozen Italian specialty food items, offering various pesto flavors, sauces, frozen pastas, and meatballs for foodservice, retail, and industrial markets.
Armanino Foods of Distinction (OTCQX: AMNF) has announced a 10% increase in its regular quarterly cash dividend to $0.04 per share, marking a new all-time high. The dividend will be paid to shareholders of record on April 4, 2025, with disbursement around April 25, 2025.
This represents the company's 99th consecutive quarterly dividend and the 5th consecutive year of dividend rate increases. The Board is currently focusing on its $12M stock buyback program rather than issuing a special dividend. Additionally, the company is in the final stages of its CEO search, with an announcement expected in the coming weeks.
The CFO and acting President and CEO, Edgar Estonina, expressed cautious optimism about maintaining strong financial performance. The company plans to release its next earnings report after market close on May 5, 2025.
Armanino Foods (OTCQX: AMNF) has reported record-breaking financial results for Q4 and full-year 2024, marking its third consecutive quarter of record performance. The company's Board has increased its stock buyback program by $5M to $12M total, with $8.8M remaining available for purchases.
Q4 2024 highlights include:
- Net sales of $18.5M, up 15% YoY
- Net income of $4.2M ($0.13/share), up 62%
- Record working capital of $26.6M, up 14%
Full-year 2024 performance:
- Net sales reached $69.4M, up 9% YoY
- Net income of $14.4M ($0.45/share), up 64%
- Total current assets increased 18% to $42.0M
The company attributes its success to improved procurement strategies, manufacturing efficiencies, and one-time benefits from trade spend refunds and volume discounts, while noting caution about potential industry slowdown.
Armanino Foods of Distinction (OTCQX: AMNF) announced that CEO Timothy W. Anderson will resign effective February 17, 2025. Current COO and CFO Edgar Estonina, a 20-year company veteran, will serve as interim CEO. Anderson was credited for leading the company through the pandemic and into a period of rapid and profitable growth, leaving the company in a strong financial position.
Chairman Douglas Nichols announced that director James Ford will lead a board search committee to identify a new CEO immediately. The company, which manufactures and markets frozen Italian specialty food items, maintains a diverse product portfolio including various pesto flavors, sauces, cheese shakers, frozen pastas, and meatballs.
Armanino Foods (OTCQX: AMNF) has declared its 98th consecutive quarterly cash dividend of $0.0363 per share, payable to shareholders of record on January 8, 2025, with disbursement around January 27, 2025. The company announced its graduation to the OTCQX Market, which is expected to provide greater exposure to investors. Additionally, AMNF has engaged MGO, as new auditors to support growth initiatives, while maintaining Sadler, Gibb & Associates as consultants. Management expressed confidence in their financial position and commitment to maintaining their highest-ever regular dividend payout, highlighting strong operating performance and working capital position.
Armanino Foods (OTCQX: AMNF) reported record-breaking Q3 2024 results, marking its 84th consecutive profitable quarter. Q3 net sales reached $17.67M, up 10% YoY, while net income surged 81% to $4.1M ($0.1280 per share). Year-to-date net sales grew 7% to $50.87M, with net income up 65% to $10.23M. The company's strong operating performance drove current assets up 11% to $39.42M, while working capital increased 6% to $24.95M. Management noted benefits from improved procurement and manufacturing efficiencies, though cautioned about potential industry slowdown.
Armanino Foods of Distinction, Inc. (OTCQX: AMNF) has announced its 96th consecutive quarterly dividend of $0.0363 per share. The dividend will be payable to shareholders of record on September 30, 2024 and disbursed around October 25, 2024. This maintains the company's highest payout per share in its history, reflecting confidence in its financial position.
The company recently graduated to the OTCQX Market and remains focused on penetrating new markets, improving margins, and meeting customer needs. Armanino's strong working capital position allows for strategic investments and growth opportunities, including potential acquisitions in adjacent markets. The company specializes in frozen Italian specialty food items for foodservice, retail, and industrial markets, offering a variety of pesto flavors, sauces, and other products.
Armanino Foods of Distinction (OTC Pink: AMNF) reported record-breaking Q2 2024 results. Net sales reached $17,481,452, up 16% year-over-year, while net income soared to $3,804,581, an 89% increase. The company achieved its highest quarterly and Q2 YTD sales and profits in its history, marking the 84th consecutive profitable quarter.
For the first six months of 2024, net sales grew 6% to $33,201,768, with net income increasing 56% to $6,123,249. The company's strong performance is attributed to margin improvement efforts, lower commodity costs, and enhanced manufacturing efficiencies. Despite the positive results, management remains cautious about potential industry slowdown and is focusing on diversifying its sales portfolio and seeking operational efficiencies.
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