Every material Form 8-K John B. Sanfilippo & Son filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
John B. Sanfilippo & Son reported fiscal 2025 first quarter results ended September 26, 2024. Net sales rose 18.0% to $276.2 million, mainly from the Lakeville snack bar acquisition, but gross profit fell 18.4% and diluted EPS fell 33.8% to $1.00 on lower selling prices, higher commodity costs and a one-time customer concession.
Net sales increased $42.1 million, or 18.0%, to $276.2 million, including about $40.5 million from the Lakeville Acquisition; excluding it, net sales rose $1.6 million, or 0.7%.
Gross profit decreased 18.4% to $46.5 million, and gross margin fell to 16.9% of net sales from 24.4% a year earlier.
Net income was $11.7 million versus $17.6 million in the prior-year quarter; diluted EPS was $1.00 versus $1.51.
The company will hold an investor conference call on Thursday, October 31, 2024, at 10:00 a.m. Eastern.
For the fiscal fourth quarter ended June 27, 2024, net sales rose 15.1% to $269.6 million, mainly from the Lakeville snack bar acquisition, while diluted EPS fell 31.7% to $0.86 and gross profit fell 8.6%. Excluding Lakeville, quarterly net sales declined 3.8%. For the full year, diluted EPS fell 4.6% to $5.15 on net sales of $1.07 billion, and the company raised its annual dividend and declared a special dividend, both payable September 11, 2024.
Q4 diluted EPS fell 31.7% to $0.86; gross profit fell 8.6% to $50.0 million
Excluding the Lakeville Acquisition, Q4 net sales fell 3.8%, with sales volume down 1.9% and weighted average price per pound down 1.9%
Full-year net sales rose 6.7% to $1.07 billion; diluted EPS fell 4.6% to $5.15
Annual dividend raised 6.3% to $0.85 per share, plus a $1.25 special dividend, both payable September 11, 2024
John B. Sanfilippo & Son reported fiscal 2024 third-quarter results for the period ended March 28, 2024. Net sales rose 14.0% to $271.9 million, mainly from the Lakeville snack bar acquisition, while diluted EPS fell 14.8% to $1.15 as gross profit margin declined. The company narrowed its estimate of the acquisition's fiscal 2024 dilution to $0.25 to $0.50 per diluted share, down from $0.80 to $1.00.
Net sales were $271.9 million, up $33.3 million or 14.0%; excluding the Lakeville Acquisition, net sales decreased 5.7%
Diluted EPS was $1.15 versus $1.35 in the prior-year quarter, a 14.8% decrease
Gross profit margin fell to 18.1% of net sales from 20.9%
Lakeville dilution estimate for the current fiscal year updated to $0.25 to $0.50 per diluted share from $0.80 to $1.00
John B. Sanfilippo & Son reported fiscal 2024 second-quarter results for the quarter ended December 28, 2023. Net sales rose 6.2% to $291.2 million and diluted EPS rose 13.1% to $1.64, with the September 2023 Lakeville Acquisition contributing about $28.7 million of net sales. Excluding the acquisition, net sales fell 4.3% on a 2.6% decline in sales volume, so shareholders are seeing growth driven mainly by the acquisition.
Net sales increased $16.9 million, or 6.2%, to $291.2 million; excluding the Lakeville Acquisition, net sales decreased $11.8 million, or 4.3%
Diluted EPS increased 13.1% to $1.64; six-month diluted EPS increased 12.9% to $3.15
Lakeville Acquisition, completed September 29, 2023, contributed approximately $28.7 million of net sales in the quarter
A one-time $2.2 million bargain purchase gain reduced operating expenses in the quarter
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