Sanfilippo John B & Son Inc. Files 10-Q for Period Ending December 28, 2023

TL;DR

<b>Sanfilippo John B & Son Inc. filed its Q2 2024 10-Q report, detailing financial data as of December 28, 2023.</b>

AI Summary

SANFILIPPO JOHN B & SON INC (JBSS) filed a Quarterly Report (10-Q) with the SEC on February 1, 2024. The filing is a 10-Q report for Sanfilippo John B & Son Inc. for the period ending December 28, 2023. The company's fiscal year ends on June 28. The filing includes data related to various financial statement accounts such as Accumulated Other Comprehensive Income, Retained Earnings, and Common Stock. Specific dates mentioned include 2023-12-28, 2023-09-29, 2022-12-29, and 2022-09-30. The company is involved in Sugar & Confectionery Products, SIC code 2060.

Why It Matters

For investors and stakeholders tracking SANFILIPPO JOHN B & SON INC, this filing contains several important signals. This 10-Q filing provides investors with an updated view of the company's financial health and performance for the most recent fiscal quarter. The detailed financial information allows stakeholders to assess the company's asset, liability, and equity positions, as well as changes in retained earnings and other comprehensive income.

Risk Assessment

Risk Level: low — SANFILIPPO JOHN B & SON INC shows low risk based on this filing. The risk is low as this is a routine quarterly filing (10-Q) providing standard financial disclosures and does not indicate any unusual events or significant negative trends.

Analyst Insight

Review the detailed balance sheet and income statement data within the 10-Q to understand the company's financial performance and position.

Key Numbers

• 20231228 — Period of Report (Conformed period of report)
• 20240201 — Filing Date (Filed as of date)
• 2060 — SIC Code (Standard Industrial Classification)
• 0628 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• SANFILIPPO JOHN B & SON INC (company) — Filer name
• 20231228 (date) — Conformed period of report
• 20240201 (date) — Filed as of date
• 0000880117 (company) — Central Index Key
• 2060 (industry_code) — Standard Industrial Classification
• DE (state) — State of incorporation
• 0628 (date) — Fiscal year end
• 1703 N. RANDALL ROAD (address) — Business address street 1

Forward-Looking Statements

• John B. Sanfilippo & Son Inc. will see increased revenue from its 'Just The Cheese' brand in the next fiscal year. (John B. Sanfilippo & Son Inc.) — medium confidence, target: 2024-06-28

FAQ

Industry Context

The company operates within the Sugar & Confectionery Products industry.

Regulatory Implications

This filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the company's balance sheet for changes in assets, liabilities, and equity.
2. Review any disclosed notes to the financial statements for further details.
3. Compare current quarter data with previous periods to identify trends.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 28, 2023. Specific comparative data from the previous filing is not detailed in this extract.

Key Financial Figures

• $0.01 — ares of the Registrant's Common Stock, $0.01 par value per share and 2,597,426 share

Filing Documents

• jbss-20231228.htm (10-Q) — 1654KB
• jbss-ex10_13.htm (EX-10.13) — 35KB
• jbss-ex10_14.htm (EX-10.14) — 63KB
• jbss-ex10_15.htm (EX-10.15) — 75KB
• jbss-ex31_1.htm (EX-31.1) — 12KB
• jbss-ex31_2.htm (EX-31.2) — 12KB
• jbss-ex32_1.htm (EX-32.1) — 5KB
• jbss-ex32_2.htm (EX-32.2) — 5KB
• 0000950170-24-009840.txt (&nbsp;) — 7204KB
• jbss-20231228.xsd (EX-101.SCH) — 970KB
• jbss-20231228_htm.xml (XML) — 1215KB

Financial Information

Part I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Consolidated Statements of Comprehensive Income for the Quarter and Twenty-Six Weeks Ended December 28, 2023 and December 29, 2022 3 Consolidated Balance Sheets as of December 28, 2023, June 29, 2023 and December 29, 2022 4 Consolidated Statements of Stockholders' Equity for the Quarter and Twenty-Six Weeks Ended December 28, 2023 and December 29, 2022 6 Consolidated Statements of Cash Flows for the Twenty-Six Weeks Ended December 28, 2023 and December 29, 2022 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 29 Signature 32 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Fi nancial Statements

Item 1. Fi nancial Statements JOHN B. SANFILIPPO & SON, INC. CONSOLID ATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Dollars in thousands, except share and per share amounts) For the Quarter Ended For the Twenty-Six Weeks Ended December 28, 2023 December 29, 2022 December 28, 2023 December 29, 2022 Net sales $ 291,222 $ 274,328 $ 525,327 $ 526,929 Cost of sales 233,283 217,826 410,366 419,784 Gross profit 57,939 56,502 114,961 107,145 Operating expenses: Selling expenses 21,001 21,830 42,993 39,812 Administrative expenses 11,563 10,208 22,016 20,455 Bargain purchase gain, net ( 2,226 ) — ( 2,226 ) — Total operating expenses 30,338 32,038 62,783 60,267 Income from operations 27,601 24,464 52,178 46,878 Other expense: Interest expense including $ 175 , $ 189 , $ 353 and $ 382 to related parties 1,055 615 1,282 1,276 Rental and miscellaneous expense, net 260 311 616 713 Pension expense (excluding service costs) 350 348 700 697 Total other expense, net 1,665 1,274 2,598 2,686 Income before income taxes 25,936 23,190 49,580 44,192 Income tax expense 6,765 6,283 12,821 11,740 Net income $ 19,171 $ 16,907 $ 36,759 $ 32,452 Other comprehensive income: Amortization of actuarial loss included in net periodic pension cost — 7 — 14 Income tax expense related to pension adjustments — ( 2 ) — ( 3 ) Other comprehensive income, net of tax — 5 — 11 Comprehensive income $ 19,171 $ 16,912 $ 36,759 $ 32,463 Net income per common share-basic $ 1.65 $ 1.46 $ 3.17 $ 2.81 Net income per common share-diluted $ 1.64 $ 1.45 $ 3.15 $ 2.79 The accompanying unaudited notes are an integral part of these consolidated financial statements. 3 Table of Contents JOHN B. SANFILIPPO & SON, INC. CONSOLIDATED B

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