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Dec 26, 2020
J&J Snack Foods Q1 2021 Earnings Report
J&J Snack Foods reported a decrease in sales and earnings for Q1 2021 due to the impact of COVID-19.
Key Takeaways
J&J Snack Foods reported a decrease in sales by 15% to $241 million and a decrease in net earnings to $1.8 million for the first quarter ended December 26, 2020, compared to the same period last year. The company's performance was impacted by the lingering effects of COVID-19 on foodservice venues, though there was improvement compared to the previous quarter. The company maintains a strong balance sheet with $285 million in cash and marketable securities.
Sales decreased by 15% to $241 million compared to the previous year's first quarter.
Net earnings decreased to $1.8 million from $17.1 million in the same quarter last year.
Operating income decreased by 97% to $578 thousand, impacted by COVID-19 related costs.
Retail segment experienced strong growth, while foodservice and frozen beverage segments were challenged by COVID-19 impacts.
Revenue by Segment
Forward Guidance
J&J Snack Foods anticipates that the virus will continue to have a negative impact on the foodservice industry in the short term.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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