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Mar 30, 2023
Sanfilippo Q3 2023 Earnings Report
Record diluted earnings per share reported for the third quarter driven by volume growth in all distribution channels.
Key Takeaways
John B. Sanfilippo & Son, Inc. reported a strong third quarter with a 9.1% increase in net sales to $238.5 million and a 32.4% increase in diluted EPS to $1.35 per share. The company benefited from volume growth in all distribution channels and normalization of gross profit margins.
Net sales increased by 9.1% to $238.5 million.
Sales volume increased by 5.0% to 75.0 million pounds.
Diluted EPS increased by 32.4% to $1.35 per share.
Gross profit increased 26.3% to $49.8 million.
Sanfilippo
Sanfilippo
Forward Guidance
The company is focused on executing its Long-Range Plan to accelerate volume growth and deliver sustainable earnings growth. They will continue to optimize their cost structure, focus on portfolio optimization, diversify product offerings, and increase flexibility.
Positive Outlook
- Executing Long-Range Plan
- Accelerating volume growth
- Delivering sustainable earnings growth
- Optimizing cost structure
- Diversifying product offerings
Challenges Ahead
- Ongoing macroeconomic volatility
- Challenging operating environment
- Inflationary environment
- Potential for increased commodity costs
- Uncertainty in economic conditions