# John B. Sanfilippo & Son, Inc. (JBSS) Q4 2025 Financial Results Summary
Elgin, IL, August 20, 2025 — John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) today announced financial results for its fiscal 2025 fourth quarter and full year ended June 26, 2025.
## Fourth Quarter Summary
– **Sales Volume**:
– Decreased by **5.4 million pounds** or **5.9%** to **86.2 million pounds**.
– **Net Sales**:
– Decreased by **$0.5 million** or **0.2%** to **$269.1 million**.
– **Gross Profit**:
– Decreased by **2.4%** to **$48.8 million**.
– **Diluted Earnings Per Share (EPS)**:
– Increased by **33.7%** to **$1.15 per share**.
## Full Year Summary
– **Sales Volume**:
– Increased by **11.7 million pounds** or **3.4%** to **358.3 million pounds**.
– **Net Sales**:
– Increased by **$40.5 million** or **3.8%** to **$1.11 billion**.
– **Gross Profit**:
– Decreased by **5.0%** to **$203.5 million**.
– **Diluted EPS**:
– Decreased by **2.3%** to **$5.03 per share**.
## CEO Commentary
– Jeffrey T. Sanfilippo, Chief Executive Officer, commented on the challenges faced in fiscal 2025 but noted improvements:
– Achieved **49.6%** growth in diluted EPS in Q3 and **33.7%** in Q4.
– Increased **annual dividend** by **5.9%** to **$0.90 per share**.
– Declared a **special dividend** of **$0.60 per share**.
– Both dividends are set for payment on **September 11, 2025**.
– Emphasized ongoing investments in manufacturing capabilities and infrastructure for future growth.
## Detailed Financial Metrics
### Fourth Quarter Results
– **Net Sales**:
– Slight decline of **0.2%** attributed to a **5.9%** drop in sales volume, somewhat offset by a **6.0%** increase in weighted average selling price per pound.
– **Sales Volume Breakdown**:
– **Consumer Distribution Channel**: Decreased by **11.5%**.
– **Private Brand**: Decreased by **10.7%**.
– **Branded Products**: Decreased by **19.7%** (notably *Orchard Valley Harvest* down **42.9%**).
– **Commercial Ingredients Channel**: Increased by **8.7%**.
– **Contract Manufacturing Channel**: Increased by **18.7%**.
### Gross Profit
– **Decreased** by **$1.2 million** to **$48.8 million**.
– **Gross Profit Margin**: Decreased to **18.1%** from **18.5%** year-on-year.
### Operating Expenses
– **Total Operating Expenses** decreased by **$6.7 million**, reflecting:
– Lower incentive compensation expenses, lower freight, and marketing spending.
– As a percentage of net sales, declined to **10.6%** from **13.1%** last year.
### Inventory
– **Total Inventories** increased by **$58.0 million** or **29.5%** due to higher commodity acquisition costs.
– Weighted average cost per pound of raw materials increased by **30.4%** year-over-year.
## Full Year Results Breakdown
– **Excluding Lakeville Acquisition**:
– Net sales remained stable; sales volume decreased by **1.7%**.
– **Operating Expenses** decreased from **$128.9 million** to **$118.8 million**.
– **Diluted EPS** for the year decreased by **2.3%** to **$5.03**.
## Conclusion
John B. Sanfilippo & Son demonstrated resilience in navigating a challenging year with notable improvements in EPS in recent quarters and a commitment to increasing shareholder returns through dividends. The company remains focused on strategic growth opportunities while managing cost effectively amid economic uncertainties.
## Upcoming Conference Call
– The Company will host a conference call and webcast on **August 21, 2025**, at **10:00 a.m. Eastern**. Registration details are available on the company’s website.
Here are the extracted tables in HTML format as requested:
| For the Quarter Ended | For the Year Ended | |||
|---|---|---|---|---|
| June 26, 2025 | June 27, 2024 | June 26, 2025 | June 27, 2024 | |
| Net sales | $269,076 | $269,572 | $1,107,246 | $1,066,783 |
| Cost of sales | 220,293 | 219,571 | 903,775 | 852,644 |
| Gross profit | 48,783 | 50,001 | 203,471 | 214,139 |
| Operating expenses: | ||||
| Selling expenses | 17,845 | 21,047 | 78,934 | 82,694 |
| Administrative expenses | 10,800 | 14,297 | 39,826 | 48,484 |
| Bargain purchase gain, net | — | — | — | (2,226) |
| Total operating expenses | 28,645 | 35,344 | 118,760 | 128,952 |
| Income from operations | 20,138 | 14,657 | 84,711 | 85,187 |
| Other expense: | ||||
| Interest expense | 1,209 | 482 | 3,552 | 2,549 |
| Rental and miscellaneous expense, net | 453 | 361 | 1,849 | 1,301 |
| Pension expense (excluding service costs) | 361 | 350 | 1,445 | 1,400 |
| Total other expense, net | 2,023 | 1,193 | 6,846 | 5,250 |
| Income before income taxes | 18,115 | 13,464 | 77,865 | 79,937 |
| Income tax expense | 4,588 | 3,451 | 18,931 | 19,688 |
| Net income | $13,527 | $10,013 | $58,934 | $60,249 |
| Basic earnings per common share | $1.16 | $0.86 | $5.06 | $5.19 |
| Diluted earnings per common share | $1.15 | $0.86 | $5.03 | $5.15 |
| Weighted average shares outstanding | ||||
| — Basic | 11,670,890 | 11,627,782 | 11,655,506 | 11,615,255 |
| — Diluted | 11,734,572 | 11,709,372 | 11,724,433 | 11,687,546 |
—
| June 26, 2025 | June 27, 2024 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash | $585 | $484 |
| Accounts receivable, net | 76,656 | 84,960 |
| Inventories | 254,600 | 196,563 |
| Prepaid expenses and other current assets | 14,583 | 12,078 |
| 346,424 | 294,085 | |
| PROPERTIES, NET: | 178,219 | 165,094 |
| OTHER LONG-TERM ASSETS: | ||
| Intangibles, net | 16,178 | 17,572 |
| Deferred income taxes | 5,782 | 3,130 |
| Operating lease right-of-use assets | 27,824 | 27,404 |
| Other assets | 23,176 | 8,290 |
| 72,960 | 56,396 | |
| TOTAL ASSETS | $597,603 | $515,575 |
| LIABILITIES & STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES: | ||
| Revolving credit facility borrowings | $57,584 | $20,420 |
| Current maturities of long-term debt, net | 940 | 737 |
| Accounts payable | 60,479 | 53,436 |
| Bank overdraft | 294 | 545 |
| Accrued expenses | 36,748 | 50,802 |
| 156,045 | 125,940 | |
| LONG-TERM LIABILITIES: | ||
| Long-term debt, less current maturities | 14,565 | 6,365 |
| Retirement plan | 27,921 | 26,154 |
| Long-term operating lease liabilities | 24,224 | 24,877 |
| Other | 14,151 | 9,626 |
| 80,861 | 67,022 | |
| STOCKHOLDERS’ EQUITY: | ||
| Class A Common Stock | 26 | 26 |
| Common Stock | 92 | 91 |
| Capital in excess of par value | 139,724 | 135,691 |
| Retained earnings | 221,495 | 186,965 |
| Accumulated other comprehensive income | 564 | 1,044 |
| Treasury stock | (1,204) | (1,204) |
| TOTAL STOCKHOLDERS’ EQUITY | 360,697 | 322,613 |
| TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY | $597,603 | $515,575 |
