Welcome to our dedicated page for John B. Sanfilippo & SON news (Ticker: $JBSS), a resource for investors and traders seeking the latest updates and insights on John B. Sanfilippo & SON stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect John B. Sanfilippo & SON's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of John B. Sanfilippo & SON's position in the market.
John B. Sanfilippo & Son, Inc. reported a 14.0% increase in net sales to $271.9 million for the fiscal 2024 third quarter, driven by the Lakeville Acquisition. Sales volume went up by 22.6%, gross profit decreased by 1.2%, and Diluted EPS decreased by 14.8%. The CEO highlighted the positive impact of the Lakeville Acquisition on sales volume and net sales. Excluding the acquisition, sales volume decreased by 1.4%. The company saw strong results in the consumer distribution channel and a reversal of declining sales volume in the private brand business. However, branded business sales volume decreased. Gross profit margin decreased to 18.1% due to higher net sales from the acquisition. Operating expenses increased, with a significant portion attributed to the Lakeville Acquisition. Total inventories increased mainly due to the acquisition. For the nine-month period, net sales increased by 4.1% to $797.2 million, with a slight increase in gross profit margin, an increase in total operating expenses, and a 3.9% increase in Diluted EPS.
John B. Sanfilippo & Son, Inc. (JBSS) declared a $1.00 per share Special Dividend, returning $11.7 million to stockholders. The dividend will be paid on June 20, 2024, to stockholders of record as of May 31, 2024. The Board emphasized creating long-term stockholder value through responsible cash use.
