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John B. Sanfilippo & Son, Inc. (JBSS), a leading nut processor and snack producer behind brands like Fisher® and Orchard Valley Harvest®, provides investors and industry stakeholders with critical updates through this dedicated news hub. Track official press releases, financial disclosures, and strategic developments from the company renowned for its vertically integrated operations and consumer-focused innovation.
This resource consolidates JBSS's latest earnings reports, product launches, supply chain initiatives, and leadership announcements. Users gain streamlined access to verified information on operational milestones, sustainability efforts, and market expansions within the snack food sector. Content types include quarterly financial results, manufacturing updates, retail partnership announcements, and industry recognition.
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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.
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