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Sep 28, 2024
J&J Snack Foods Q4 2024 Earnings Report
Reported a decrease in net sales but managed to maintain net earnings as a percentage of sales, reflecting successful cost management and improved operating efficiencies.
Key Takeaways
J&J Snack Foods reported a decrease in net sales by 3.9% to $426.8 million for the fourth quarter of fiscal year 2024, but on a normalized basis, sales increased by 3.9%. The company's gross margin was 31.8%, a 110-basis point decline compared to the previous year. Despite these challenges, net earnings as a percentage of sales remained in line with the prior year, reflecting the company's success in managing costs and improving operating efficiencies.
Net sales decreased by 3.9% to $426.8 million in Q4 2024, but increased 3.9% on a normalized basis.
Gross profit margin declined by 110 basis points to 31.8% due to product mix and supply chain inefficiencies.
Operating income and Adjusted EBITDA decreased by 4.5% and 4.0%, respectively.
Net earnings as a percentage of sales remained in line with the prior year at 6.9%.
Revenue by Segment
Forward Guidance
J&J Snack Foods remains confident in the growth potential of its core products, new product launches, and client partnerships as they enter fiscal year 2025. They anticipate growth in the theater channel with a stronger film slate and continued success with churro launches in QSR chains.
Positive Outlook
- Expansion of Dippin Dots across the theater channel and upcoming launch into retail.
- Optimism about growth opportunity of Dippin Dots and Icee beverages in the theater channel due to a more compelling film slate in fiscal 2025.
- Continued success with national QSR chains and expectation of new opportunities from recent churros launch.
- Progress in maximizing sales across all customer channels and enhancing operational efficiencies.
- Strong balance sheet and liquidity, paired with an experienced leadership team, give confidence in the ability to create long-term value.
Challenges Ahead
- No specific negatives were mentioned in the provided text.
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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