J&J Snack Foods Corp. Files FY24 10-K

TL;DR

J&J Snack Foods FY24 10-K is in: $333.6M in PP&E, lots of related party stuff. Check it.

AI Summary

J&J Snack Foods Corp. reported its fiscal year 2024 results ending September 28, 2024. The company's financial statements indicate significant assets and liabilities, with Property, Plant and Equipment, Net totaling $333.6 million. The filing also details various financial instruments and related party transactions, including those with NFI Member and Labor Management Services Member.

Why It Matters

This 10-K filing provides a comprehensive overview of J&J Snack Foods Corp.'s financial health and operational status for the fiscal year 2024, crucial for investors and stakeholders to assess performance and future outlook.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information, including significant assets and liabilities, and mentions related party transactions, which can introduce complexity and potential risks.

Key Numbers

• $333.6M — Property, Plant and Equipment, Net (Represents the net book value of the company's fixed assets as of the fiscal year end.)

Key Players & Entities

• J&J SNACK FOODS CORP (company) — Filer
• 20240928 (date) — Fiscal Year End
• 350 FELLOWSHIP ROAD (address) — Business and Mail Address
• MOUNT LAUREL, NJ 08054 (address) — Business and Mail Address City, State, Zip
• 6096659533 (phone_number) — Business Phone
• 0000785956 (company_id) — Central Index Key
• $333.6 million (dollar_amount) — Property, Plant and Equipment, Net

FAQ

Key Financial Figures

• $144.56 — he last sale price on March 28, 2024 of $144.56 per share. As of November 22, 2024, 19,
• $73.4 m — Sales from our foreign operations were $73.4 million, $70.2 million and $45.2 million
• $70.2 million — foreign operations were $73.4 million, $70.2 million and $45.2 million in fiscal years 2024,
• $45.2 million — s were $73.4 million, $70.2 million and $45.2 million in fiscal years 2024, 2023, and 2022, r
• $67.6 million — l assets in our foreign operations were $67.6 million or 5.0% of total assets. At September 3
• $61.5 million — l assets in our foreign operations were $61.5 million or 4.8% of total assets. Government Re

Filing Documents

• jjsf20240928_10k.htm (10-K) — 2322KB
• ex_747124.htm (EX-19.1) — 83KB
• ex_747125.htm (EX-21.1) — 27KB
• ex_752038.htm (EX-23.1) — 3KB
• ex_747127.htm (EX-31.1) — 10KB
• ex_747128.htm (EX-31.2) — 10KB
• ex_747129.htm (EX-32.1) — 6KB
• ex_747130.htm (EX-32.2) — 7KB
• ex_747126.htm (EX-97.1) — 11KB
• stock.jpg (GRAPHIC) — 69KB
• 0001437749-24-036279.txt ( ) — 11885KB
• jjsf-20240928.xsd (EX-101.SCH) — 74KB
• jjsf-20240928_def.xml (EX-101.DEF) — 550KB
• jjsf-20240928_lab.xml (EX-101.LAB) — 477KB
• jjsf-20240928_pre.xml (EX-101.PRE) — 605KB
• jjsf-20240928_cal.xml (EX-101.CAL) — 66KB
• jjsf20240928_10k_htm.xml (XML) — 2568KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 9 Item 1B Unresolved Staff Comments 16 Item 1C Cybersecurity 16 Item 2

Properties

Properties 19 Item 3

Legal Proceedings

Legal Proceedings 18 Item 4 Mine Safety Disclosures 18 PART II Item 5 Market For Registrant's Common Equity, Related Stockholder Matters And Issuer Purchases Of Equity Securities 18 Item 6 [Reserved] 19 Item 7

Management's Discussion And Analysis Of Financial Condition And Results Of Operations

Management's Discussion And Analysis Of Financial Condition And Results Of Operations 19 Item 7A

Quantitative And Qualitative Disclosures About Market Risk

Quantitative And Qualitative Disclosures About Market Risk 33 Item 8

Financial Statements And Supplementary Data

Financial Statements And Supplementary Data 33 Item 9 Changes In And Disagreements With Accountants On Accounting And Financial Disclosure 33 Item 9A

Controls and Procedures

Controls and Procedures 33 Item 9B Other Information 35 Item 9C Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 35 PART III Item 10 Directors, Executive Officers and Corporate Governance 35 Item 11

Executive Compensation

Executive Compensation 36 Item 12

Security Ownership Of Certain Beneficial Owners And Management And Related Stockholder Matters

Security Ownership Of Certain Beneficial Owners And Management And Related Stockholder Matters 36 Item 13 Certain Relationships And Related Transactions, and Director Independence 36 Item 14 Principal Accountant Fees and Service 36 PART IV Item 15 Exhibits, Financial Statement Schedules 36 Item 16 Form 10-K Summary 38 Note About Forward-Looking Statements This annual report on Form 10-K contains forward-looking statements. Statements that are not historic or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to us, based on our current beliefs as well as assumptions made by us and information currently available to us. Forward-looking statements generally will be accompanied by words such as "anticipate," "if," "may," "believe," "plan,", "goals," "estimate," "expect," "project," "continue," "forecast," "intend," "may," "could," "should," "will," and other similar expressions. Statements addressing our future operating performance and statements addressing events and developments that we expect or anticipate will occur are also considered as forward-looking statements. This includes, without limitation, our statements and expectations regarding any current or future recovery in our industry and the future impact of our investments in additional production capacity and logistics and warehousing operations. Such forward-looking statements are inherently uncertain, and readers must recognize that actual results may differ materially from the expectations of management. Important factors that could cause actual results to differ materially from the forward-looking sta

Business

Item 1. Business General J & J Snack Foods Corp. (the "Company" or "J & J") manufactures snack foods and distributes frozen beverages which it markets nationally to the foodservice and retail supermarket industries. The Company's principal snack food products are soft pretzels marketed primarily under the brand names SUPERPRETZEL, BRAUHAUS and BAVARIAN BAKERY, frozen novelties marketed primarily under the DIPPIN' DOTS, LUIGI'S, WHOLE FRUIT, ICEE, DOGSTERS, PHILLY SWIRL and MINUTE MAID* brand names, churros marketed primarily under the HOLA! and CALIFORNIA CHURROS brand names and bakery products sold primarily under the READI-BAKE, COUNTRY HOME, MARY B'S, DADDY RAY'S and HILL & VALLEY brand names as well as for private label and contract packing. We believe we are the largest manufacturer of soft pretzels in the United States. Other snack food products include funnel cake sold under THE FUNNEL CAKE FACTORY brand and handheld products sold under smaller brands. The Company's principal frozen beverage products are the ICEE brand frozen carbonated beverage and the SLUSH PUPPIE brand frozen non-carbonated beverage. 1 The Company's Food Service and Frozen Beverages sales are made primarily to foodservice customers including snack bar and food stand locations in leading chain, department, discount, warehouse club and convenience stores; malls and shopping centers; fast food and casual dining restaurants; stadiums and sports arenas; leisure and theme parks; movie theatres; independent retailers; and schools, colleges, and other institutions. The Company's retail supermarket customers are primarily supermarket chains. * Minute Maid is a registered trademark of the Coca-Cola Company The Company was incorporated in 1971 under the laws of the State of New Jersey. The Company operates in three business segments: Food Service, Retail Supermarkets and Frozen Beverages. These segments are described below. The Chief Operating Decision Maker for Food Service, Retail Superma

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View this 10-K filing on SEC EDGAR