Sanfilippo John B & Son Inc. Files 10-Q
Ticker: JBSS · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 880117
Sentiment: neutral
Topics: 10-Q, financials, confectionery
TL;DR
JBSS 10-Q filed. Financials look stable. Sugar & candy biz chugging along.
AI Summary
Sanfilippo John B & Son Inc. filed its 10-Q for the period ending September 26, 2024. The company, a sugar and confectionery products manufacturer, reported on its financial status. Key financial elements include operating lease right-of-use assets and other accrued liabilities, with specific dates like June 28, 2024, and September 26, 2024, being relevant for reporting periods and asset valuations.
Why It Matters
This filing provides insight into the financial health and operational status of Sanfilippo John B & Son Inc., a key player in the sugar and confectionery market.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative disclosures.
Key Numbers
- 2024-09-26 — Reporting Period End Date (The end of the fiscal quarter reported in the 10-Q.)
- 2024-06-28 — Previous Fiscal Year End (Marks the end of the prior fiscal year, relevant for comparative financial analysis.)
- 2023-09-29 — Prior Year Comparable Period (Indicates a period from the previous fiscal year for comparison.)
Key Players & Entities
- SANFILIPPO JOHN B & SON INC (company) — Filer
- 20240926 (date) — Conformed Period of Report
- 20241030 (date) — Filed as of Date
- 0000880117 (company) — Central Index Key
- SUGAR & CONFECTIONERY PRODUCTS (industry) — Standard Industrial Classification
- 1703 N. RANDALL ROAD (address) — Business Address
- ELGIN (location) — City
- IL (location) — State
- 60123-7820 (zip_code) — Business Zip Code
- 847-289-1800 (phone_number) — Business Phone
FAQ
What is the company's primary business activity?
The company's Standard Industrial Classification is SUGAR & CONFECTIONERY PRODUCTS.
What is the filing date of this 10-Q report?
This 10-Q report was filed as of October 30, 2024.
What is the reporting period for this 10-Q?
The conformed period of report is September 26, 2024.
Where is Sanfilippo John B & Son Inc. located?
The company's business address is 1703 N. RANDALL ROAD, ELGIN, IL 60123-7820.
What type of financial instruments or assets are mentioned in the filing metadata?
The metadata mentions 'OperatingLeaseRightOfUseAsset', 'OtherAccruedLiabilitiesCurrent', 'CommonStockMember', 'NoncompeteAgreementsMember', and 'RevolvingCreditFacilityMember'.
Filing Stats: 4,418 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-10-30 17:15:23
Key Financial Figures
- $0.01 — are s of the Registrant's Common Stock, $0.01 par value per share and 2,597,426 share
Filing Documents
- jbss-20240926.htm (10-Q) — 1222KB
- 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) — 6KB
- 0000950170-24-119114.txt ( ) — 5513KB
- jbss-20240926.xsd (EX-101.SCH) — 949KB
- jbss-20240926_htm.xml (XML) — 796KB
Financial Information
Part I. Financial Information
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 3 Consolidated Statements of Comprehensive Income for the Quarter Ended September 26, 2024 and September 28, 2023 3 Consolidated Balance Sheets as of September 26, 2024, June 27, 2024 and September 28, 2023 4 Consolidated Statements of Stockholders' Equity for the Quarter Ended September 26, 2024 and September 28, 2023 6 Consolidated Statements of Cash Flows for the Quarter Ended September 26, 2024 and September 28, 2023 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 15
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 24
Controls and Procedures
Item 4. Controls and Procedures 24
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 24
Risk Factors
Item 1A. Risk Factors 24
Other Information
Item 5. Other Information 25
Exhibits
Item 6. Exhibits 25 Signature 28 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 September 26, 2024 September 28, 2023 Net sales $ 276,196 $ 234,105 Cost of sales 229,652 177,083 Gross profit 46,544 57,022 Operating expenses: Selling expenses 19,839 21,992 Administrative expenses 9,698 10,453 Total operating expenses 29,537 32,445 Income from operations 17,007 24,577 Other expense: Interest expense including $ 163 and $ 178 to related parties, respectively 516 227 Rental and miscellaneous expense, net 411 356 Pension expense (excluding service costs) 361 350 Total other expense, net 1,288 933 Income before income taxes 15,719 23,644 Income tax expense 4,060 6,056 Net income and comprehensive income $ 11,659 $ 17,588 Net income per common share-basic $ 1.00 $ 1.52 Net income per common share-diluted $ 1.00 $ 1.51 The accompanying unaudited notes are an integral part of these consolidated financial statements. 3 Table of Contents JOHN B. SANFILIPPO & SON, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands, except share and per share amounts) September 26, 2024 June 27, 2024 September 28, 2023 ASSETS CURRENT ASSETS: Cash $ 442 $ 484 $ 838 Accounts receivable, less allowance for doubtful accounts of $ 327 , $ 318 and $ 281 , respectively 83,787 84,960 68,363 Inventories 194,565 196,563 174,789 Prepaid expenses and other current assets 8,695 12,078 7,603 TOTAL CURRENT ASSETS 287,489 294,085 251,593 PROPERTY, PLANT AND EQUIPMENT: Land 13,365 13,365 9,150 Buildings 116,330 115,517 104,982 Machinery and equipment 298,973 295,599 267,313 Furniture and leasehold improvements 5,448 5,423 5,275 Vehicles 1,09