J&J Snack Foods Corp. Files 10-Q for Q1 2024

TL;DR

<b>J&J Snack Foods Corp. filed its Q1 2024 10-Q report on February 7, 2024, detailing financial performance for the quarter ending December 30, 2023.</b>

AI Summary

J&J SNACK FOODS CORP (JJSF) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. J&J Snack Foods Corp. filed a 10-Q for the period ending December 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends in September. The filing was made on February 7, 2024. The company's principal business is in Cookies & Crackers (SIC 2052).

Why It Matters

For investors and stakeholders tracking J&J SNACK FOODS CORP, this filing contains several important signals. This 10-Q filing provides investors with an update on J&J Snack Foods Corp.'s financial health and operational performance for the first quarter of fiscal year 2024. The detailed financial information within the report allows stakeholders to assess the company's revenue, expenses, assets, and liabilities, aiding in investment decisions.

Risk Assessment

Risk Level: low — J&J SNACK FOODS CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual events or significant financial distress, suggesting a low level of immediate risk.

Analyst Insight

Monitor future 10-Q filings for trends in revenue growth, cost management, and any new product introductions or market expansions.

Key Numbers

• 20231230 — Period End Date (CONFORMED PERIOD OF REPORT)
• 20240207 — Filing Date (FILED AS OF DATE)
• 2024 — Fiscal Year End (FISCAL YEAR END)
• 2052 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• J&J SNACK FOODS CORP (company) — FILER
• 0000785956 (company) — CENTRAL INDEX KEY
• 20231230 (date) — CONFORMED PERIOD OF REPORT
• 20240207 (date) — FILED AS OF DATE
• MOUNT LAUREL (location) — CITY
• NJ (location) — STATE
• 08054 (location) — ZIP
• 6096659533 (phone) — BUSINESS PHONE

FAQ

Industry Context

J&J Snack Foods Corp. operates within the food manufacturing sector, specifically focusing on cookies and crackers.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Compare Q1 2024 performance against previous quarters and the same quarter in the prior year.
3. Identify any new disclosures or risk factors mentioned in the report.

Key Dates

• 2024-02-07: 10-Q Filing — Filing of the quarterly report for Q1 2024.
• 2023-12-30: Quarter End Date — End of the reporting period for the first quarter of fiscal year 2024.
• 2024-09-24: Fiscal Year End — Indicates the end of the company's fiscal year.

Year-Over-Year Comparison

This is the initial filing for the first quarter of fiscal year 2024, so direct comparison to a prior period's 10-Q for the same quarter is not yet available within this document.

Key Financial Figures

• $3.3 million — lowance for estimated credit losses was $3.3 million and $3.2 million on December 30, 2023 a
• $3.2 million — ated credit losses was $3.3 million and $3.2 million on December 30, 2023 and September 30,

Filing Documents

• jjsf20231230_10q.htm (10-Q) — 1016KB
• ex_620189.htm (EX-31.1) — 9KB
• ex_620190.htm (EX-31.2) — 9KB
• ex_620191.htm (EX-32.1) — 5KB
• ex_620192.htm (EX-32.2) — 5KB
• 0001437749-24-003377.txt (&nbsp;) — 5594KB
• jjsf-20231230.xsd (EX-101.SCH) — 51KB
• jjsf-20231230_def.xml (EX-101.DEF) — 345KB
• jjsf-20231230_lab.xml (EX-101.LAB) — 283KB
• jjsf-20231230_pre.xml (EX-101.PRE) — 377KB
• jjsf-20231230_cal.xml (EX-101.CAL) — 48KB
• jjsf20231230_10q_htm.xml (XML) — 924KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28 Part II. Other Information 28 Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and the Use of Proceeds 28 Item 6. Exhibits 29 2 PART I. FINANCIAL INFORMATION Item 1. Consolidated Financial Statements J & J SNACK FOODS CORP. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except share amounts) December 30, 2023 September 30, (unaudited) 2023 Assets Current assets Cash and cash equivalents $ 50,020 $ 49,581 Accounts receivable, net 166,156 198,129 Inventories 172,724 171,539 Prepaid expenses and other 8,379 10,963 Total current assets 397,279 430,212 Property, plant and equipment, at cost Land 3,684 3,684 Buildings 45,538 45,538 Plant machinery and equipment 468,620 445,299 Marketing equipment 304,160 296,482 Transportation equipment 15,085 14,367 Office equipment 47,966 47,393 Improvements 51,423 51,319 Construction in progress 42,838 56,116 Total Property, plant and equipment, at cost 979,314 960,198 Less accumulated depreciation and amortization 588,241 574,295 Property, plant and equipment, net 391,073 385,903 Other assets Goodwill 185,070 185,070 Other intangible assets, net 181,913 183,529 Operating lease right-of-use assets 133,715 88,868 Other 3,507 3,654 Total other assets 504,205 461,121 Total Assets $ 1,292,557 $ 1,277,236 Liabilities and Stockholders' Equity Current liabilities Current finance lease liabilities $ 159 $ 201 Accounts payable 85,293 90,758 Accrued insurance liability 16,460 15,743 Accrued liabilities 13,144 14,214 Current operating lease liabilities 17,934 16,478 Accrued compensation expense 18,090 23,341 Dividends payable 14,235 14,209 Total current liabilities 165,315 174,944 Long-term debt 7,000 27,000 Noncurrent finance lease liabilities 549 600 Noncurrent operating lease liabilities 121,626 77,631 Deferred income taxes 81,085

View Full Filing

View this 10-Q filing on SEC EDGAR