- John B. Sanfilippo & Son (JBSS -8.5%) reported Q4 nest sales growth of 4.9% Y/Y to $211.5M, due to 3.2% increase in weighted average selling price per pound and a 1.7% increase in sales volume.
- Sales volume in customer distribution channel were up by 14% Y/Y, primarily driven by increased sales of private brand trail mixes, peanuts and almonds.
- Sales Volume: Fisher recipe +2.5% due to distribution gains with new and existing customers; Orchard Valley Harvest +97.9% due to distribution gains with new customers and Fisher snack nuts -6.1% due to reduced display activity at a major customer.
- Q4 gross margin decline by 112 bps to 15.6% and operating margin decline by 110 bps to 4.9%.
- Q4 Expenses: Selling $14.51M (+16.5% Y/Y) and Administrative $7.98M (-11.6% Y/Y).
- Total inventories were at $174.62M a decline of 4.3% Y/Y.
- Previously: John B. Sanfilippo & Son misses on revenue (Aug. 22)
- Now read: General Mills (NYSE:GIS) Is Doing The Right Things
Original article