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Mar 30, 2024
J&J Snack Foods Q2 2024 Earnings Report
J&J Snack Foods reported record fiscal second quarter revenue and increased net earnings.
Key Takeaways
J&J Snack Foods reported a strong second quarter with record revenue of $359.7 million, driven by higher volumes and new business in Food Service and Retail. Gross margin improved by 330 basis points to 30.1%, leading to significant growth in adjusted operating income, adjusted EBITDA, net earnings, and EPS.
Net sales increased by 6.5% to $359.7 million compared to the prior year.
Food Service sales increased by 5.4%, driven by growth in churros, bakery, and frozen novelties.
Retail sales increased by 14.1%, led by growth in handhelds and frozen novelties.
Adjusted operating income increased by 81.0% due to sales growth, improved gross margins, and operational efficiencies.
J&J Snack Foods
J&J Snack Foods
J&J Snack Foods Revenue by Segment
Revenue by Segment
Food Service Revenue
CapyFin.comRetail Supermarket Revenue
CapyFin.comFrozen Beverages Revenue
CapyFin.com Forward Guidance
J&J Snack Foods is focused on executing its strategy, maximizing sales opportunities, and investing in capabilities to improve operations. While monitoring consumer and inflationary trends, the company expects to build momentum through the second half of fiscal 2024 and deliver long-term value.
Positive Outlook
- Continue driving growth across our brand portfolio and customer channels
- Maximizing every sales and new business opportunity to further grow our core brands
- Investing in our capabilities and resources to improve our overall operations
- Robust balance sheet and liquidity position
- Completing strategic supply chain transformation
Challenges Ahead
- Closely monitoring consumer trends
- Closely monitoring inflationary trends
- Softer sales of Handhelds and Soft Pretzels in Food Service driven primarily by soft consumer trends
- Continued double-digit inflation in chocolates
- Mid-single digit increases in sugar/sweeteners, mixes, and meats
Revenue & Expenses
Visualization of income flow from segment revenue to net income