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John B. Sanfilippo & Son, Inc. reports operating developments for a packaged-food business that processes, packages, markets and distributes nuts, dried-fruit products, snack bars and dried cheese snacks. Its updates cover branded products such as Fisher, Orchard Valley Harvest, Squirrel Brand, Southern Style Nuts and Just the Cheese, along with private-brand sales.
Recurring news for JBSS centers on quarterly results, commodity acquisition costs for tree nuts and peanuts, selling-price changes, sales volume by product type, gross margin trends and activity in commercial ingredients and contract manufacturing channels. Company announcements also include conference-call notices and cash dividends on Common Stock and Class A Common Stock.
John B. Sanfilippo & Son (Nasdaq: JBSS) reported solid quarterly results despite challenges. Net sales rose 8.4% to $253.2 million while net income fell 33.4% to $13.2 million. Sales volume increased by 6%, with significant gains in snack mixes and commercial ingredients. Gross profit decreased by 1.1% due to supply chain issues and inflation. Operating expenses surged by $9.0 million, driving profitability pressures. The company plans to implement pricing actions to mitigate inflationary costs and has seen a recovery in sales volume across distribution channels, particularly in foodservice.
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) will hold its quarterly conference call to discuss second quarter fiscal 2022 operating results on January 28, 2022, at 10:00 a.m. ET. The results will be released after market close on January 27, 2022. Interested parties can join the call by dialing 1-844-536-5471 (U.S.) or 1-614-999-9317 (international) with passcode 4284207. The call will also be available via webcast on the company’s website, which markets various nut and dried fruit products under brands like Fisher® and Squirrel Brand®.
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) reported strong first-quarter results for fiscal 2022, with net sales increasing 7.6% to $226.3 million and net income rising 50.2% to $19.2 million. This growth was driven by a 14.0% increase in sales volume, particularly in private brand offerings. Gross profit also improved, rising 31.7% to $51.8 million, as commodity costs decreased for most tree nuts. However, total operating expenses increased, reflecting higher freight and labor costs. The company anticipates further increases in raw material costs and is implementing pricing actions to mitigate these expenses.
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) is scheduled to hold its quarterly conference call on October 26, 2021, at 10:00 a.m. ET, to discuss its first quarter fiscal 2022 operating results. The results will be released after the market closes on October 25, 2021. Interested parties can join the call by dialing 1-844-536-5471 (U.S.) or 1-614-999-9317 (international), using participant passcode 6682639. The conference call will also be accessible via webcast on the company’s website.
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) announces the appointment of Frank S. Pellegrino as Chief Financial Officer, effective August 20, 2021. Pellegrino, who has been with the company since January 2007, previously served as Executive Vice President, Finance and Administration, and Treasurer. His promotion follows the succession plan after Michael J. Valentine stepped down as CFO but continues as Group President and Secretary. Pellegrino’s extensive experience includes roles in internal auditing and a CPA certification since 1996.
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) reported record net income of $12.3 million for Q4 FY2021, up from $10.3 million in Q4 FY2020. Fiscal 2021 net income reached $59.7 million, an increase from $54.1 million in FY2020. Q4 net sales increased 1.2% to $206.7 million due to a 9.6% rise in sales volume, partially offset by a 7.6% decrease in selling price per pound. Despite an overall FY2021 net sales decline of 2.5% to $858.5 million, gross profit improved to $185 million, reflecting lower commodity costs. The company announced a 7.7% dividend increase and a special dividend of $2.30 per share.
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) will hold a quarterly conference call on August 19, 2021, at 10:00 a.m. ET to discuss its fourth-quarter and fiscal 2021 year-end results. The operating results will be released after market close on August 18, 2021. Investors can join the call by dialing 1-844-536-5471 in the U.S. or 1-614-999-9317 internationally with passcode 2288426. The call will also be available via webcast on the company's website.
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) declared a special cash dividend of $2.30 per share along with a regular annual cash dividend of $0.70 per share, totaling approximately $35.0 million to shareholders. The dividends will be payable on August 25, 2021, to stockholders of record as of August 10, 2021. This announcement reflects the company's strong financial performance in the first three quarters of fiscal 2021 and illustrates its commitment to creating long-term shareholder value.
John B. Sanfilippo & Son reported a net income of $14.7 million for Q3 fiscal 2021, marking an increase from $13.5 million in Q3 fiscal 2020. Earnings per share rose to $1.27 from $1.17. However, net sales decreased to $207.9 million due to a 1.2% decline in sales volume, primarily in almonds and peanuts. The company experienced a 9.1% increase in the consumer distribution channel, driven by private brand products. Despite challenges in food service and packaging, gross profit margin improved to 22.1%.
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) will hold a quarterly conference call on April 29, 2021, at 10:00 a.m. ET to discuss its third quarter fiscal 2021 results, which are set to be released after market close on April 28, 2021. Investors can participate by calling 1-844-536-5471 (U.S.) or 1-614-999-9317 (international) with passcode 8276508. The call will also be webcast on the company’s website.
John B. Sanfilippo & Son is a processor and distributor of nut and dried fruit products under brands like Fisher® and Squirrel Brand®.