Wed, Oct 30, 9:17 PM (262 days ago)
For the first quarter of fiscal 2025, John B. Sanfilippo & Son, Inc. (JBSS) reported net sales of $276.2 million, an 18.0% increase from $234.1 million in the same period last year, primarily driven by the Lakeville Acquisition, which contributed approximately $40.5 million to sales. However, gross profit fell to $46.5 million, down 18.4%, with a gross margin of 16.9% due to competitive pricing pressures and increased commodity costs. Operating expenses decreased by 9.0% to $29.5 million, leading to an operating income of $17.0 million, down from $24.6 million year-over-year. Net income was $11.7 million, or $1.00 per share, a decline from $17.6 million, or $1.52 per share, in the prior year. Cash flows from operating activities decreased to $8.9 million compared to $21.9 million previously, attributed to lower net income and working capital changes. The company’s liquidity remains stable, with $97.7 million available under its credit facility. Future challenges include inflationary pressures, labor costs, and potential supply chain disruptions, which could impact financial performance.