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Mar 26, 2020
Sanfilippo Q3 2020 Earnings Report
Diluted EPS increased by 30% to a third quarter record.
Key Takeaways
John B. Sanfilippo & Son, Inc. reported a strong third quarter in fiscal year 2020, with net income increasing to $13.5 million, or $1.17 per share diluted, compared to $10.3 million, or $0.90 per share diluted, for the third quarter of fiscal 2019. Net sales also increased to $211.6 million from $201.8 million.
Net sales increased by 4.9%.
Sales volume increased by 13.7%.
Gross profit increased by 10.3%.
Net income increased by 30.3%.
Sanfilippo
Sanfilippo
Forward Guidance
The company expects sales volume growth in the consumer distribution channel to normalize. Food service sales are expected to decline significantly until travel restrictions and restaurant closings are lifted.
Challenges Ahead
- Expect sales volume growth in consumer distribution channel to normalize.
- Food service sales are expected to decline significantly until travel restrictions and restaurant closings are lifted.