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Dec 24, 2020
Sanfilippo Q2 2021 Earnings Report
JBSS reported record net income and diluted earnings per share for the second quarter, despite challenges in the food service business and contract packaging distribution channel.
Key Takeaways
John B. Sanfilippo & Son, Inc. announced operating results for its fiscal 2021 second quarter, with net income increasing to $19.9 million, or $1.72 per share diluted, compared to $17.5 million, or $1.52 per share diluted, for the second quarter of fiscal 2020. Net sales decreased to $233.6 million from $246.4 million, primarily due to lower selling prices for tree nuts, offset by a 1.8% increase in sales volume.
Net income for the second quarter of fiscal 2021 was $19.9 million, or $1.72 per share diluted, compared to net income of $17.5 million, or $1.52 per share diluted, for the second quarter of fiscal 2020.
Net sales for the second quarter of fiscal 2021 were $233.6 million compared to net sales of $246.4 million for the second quarter of fiscal 2020.
Gross profit increased by $2.8 million, or 5.6%, for the second quarter of fiscal 2021 compared to the second quarter of fiscal 2020.
Sales volume increased 9.9% in the consumer distribution channel mainly due to a 13.3% increase in sales volume for private brand peanuts, trail mixes and snack mixes.
Sanfilippo
Sanfilippo
Forward Guidance
The Company will host an investor conference call and webcast on Thursday, January 28, 2021, at 10:00 a.m. Eastern (9:00 a.m. Central) to discuss these results.