Loading...
•
Sep 30, 2023
J&J Snack Foods Q4 2023 Earnings Report
J&J Snack Foods' Q4 2023 earnings report revealed a 10.8% increase in revenue, reaching a quarterly record of $443.9 million, driven by growth across all business segments and successful operational initiatives.
Key Takeaways
J&J Snack Foods reported a strong Q4 2023 with record sales of $443.9 million, a 10.8% increase year-over-year. The company saw growth in all three business segments: Food Service, Retail, and Frozen Beverages. Profitability also increased, driven by improved gross margins and lower distribution expenses.
Net sales increased by 10.8% to a record $443.9 million, marking the largest fourth quarter sales performance in the Company’s history.
Gross profit as a percentage of sales was 32.8%, compared favorably to 28.9% in the prior year, reflecting increased volume, improved product mix and aligned pricing.
Operating income and adjusted EBITDA increased 93.0% and 55.2%, respectively.
Retail segment sales grew by 21.2%, driven by new placements and product launches.
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
J&J Snack Foods anticipates continued success into fiscal year 2024, driven by cross-selling opportunities, product innovation, and operational efficiencies.
Positive Outlook
- Momentum remains strong heading into fiscal 2024.
- Focus on cross-selling is creating new product opportunities and channels.
- Ability to further leverage product innovation capabilities.
- Strength of our brands.
- Improved operational efficiencies position J&J well to deliver added value.
Revenue & Expenses
Visualization of income flow from segment revenue to net income