Loading...
•
Dec 30, 2023
J&J Snack Foods Q1 2024 Earnings Report
Reported a decrease in net sales but an increase in net earnings, driven by gross margin expansion and productivity improvements.
Key Takeaways
J&J Snack Foods reported a slight decrease in net sales by 0.9% to $348.3 million, but net earnings increased by 9.8%. The company managed a softer consumer environment through gross margin expansion and strategic investments, resulting in higher adjusted operating income and adjusted EBITDA.
Net sales decreased by 0.9% to $348.3 million due to declines in consumer traffic and consumption.
Gross profit margin improved by 130 basis points, driven by higher margin core products and productivity gains.
Adjusted operating income increased by 20.6% and adjusted EBITDA increased by 19.4%.
Frozen Beverage segment experienced strong growth with an 8.5% increase in sales.
J&J Snack Foods
J&J Snack Foods
J&J Snack Foods Revenue by Segment
Revenue by Segment
Food Service Revenue
CapyFin.comFrozen Beverages Revenue
CapyFin.com Forward Guidance
The company expects to build momentum through the balance of the fiscal year by growing core brands, cross-selling the portfolio, and expanding its customer footprint.
Positive Outlook
- Strategy to grow core brands
- Cross-selling the portfolio
- Expand customer footprint
- Diverse nature of business
- Power of brands and channel diversity
Revenue & Expenses
Visualization of income flow from segment revenue to net income