J&J Snack Foods Corp. Files 10-Q for Q2 2024

TL;DR

<b>J&J Snack Foods Corp. filed its 10-Q for the second quarter of fiscal year 2024, ending March 30, 2024.</b>

AI Summary

J&J SNACK FOODS CORP (JJSF) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Filing covers the period ending March 30, 2024. Company is J&J Snack Foods Corp., SIC code 2052 (Cookies & Crackers). Incorporated in New Jersey, fiscal year ends September 2024. Business and mailing address: 350 Fellowship Road, Suite 100, Mount Laurel, NJ 08054. Business phone number: 609-665-9533.

Why It Matters

For investors and stakeholders tracking J&J SNACK FOODS CORP, this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the most recent fiscal quarter. Investors and analysts can use this report to assess the company's financial health, identify trends, and make informed 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 contain immediate red flags or significant negative developments.

Analyst Insight

Monitor future filings for revenue growth, net income trends, and any changes in debt levels.

Key Numbers

• 2024-03-30 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-08 — Filing Date (Filed As Of Date)
• 0000785956 — Central Index Key (Company Identifier)
• 2052 — Standard Industrial Classification (Industry Code for Cookies & Crackers)

Key Players & Entities

• J&J SNACK FOODS CORP (company) — Filer name
• 2024-03-30 (date) — Conformed period of report
• 2024-05-08 (date) — Filed as of date
• 0000785956 (company) — Central Index Key
• 2052 (industry) — Standard Industrial Classification
• NJ (location) — State of incorporation
• MOUNT LAUREL (location) — City
• 08054 (postal_code) — ZIP code

FAQ

Industry Context

J&J Snack Foods Corp. operates within the food manufacturing industry, specifically focusing on snack products like cookies and crackers.

Regulatory Implications

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

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management discussion.
2. Compare Q2 2024 results with previous quarters and the same quarter last year.
3. Note any disclosures regarding business segments, risks, or subsequent events.

Key Dates

• 2024-03-30: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the specified period; no prior filing data is available for comparison within this context.

Filing Documents

• jjsf20240330_10q.htm (10-Q) — 1680KB
• ex_662448.htm (EX-31.1) — 9KB
• ex_662449.htm (EX-31.2) — 9KB
• ex_662450.htm (EX-32.1) — 5KB
• ex_662451.htm (EX-32.2) — 5KB
• 0001437749-24-015377.txt (&nbsp;) — 7394KB
• jjsf-20240330.xsd (EX-101.SCH) — 52KB
• jjsf-20240330_def.xml (EX-101.DEF) — 334KB
• jjsf-20240330_lab.xml (EX-101.LAB) — 283KB
• jjsf-20240330_pre.xml (EX-101.PRE) — 376KB
• jjsf-20240330_cal.xml (EX-101.CAL) — 48KB
• jjsf20240330_10q_htm.xml (XML) — 1524KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 5. Other Information 28 Item 6. Exhibits 28 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements J & J SNACK FOODS CORP. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except share amounts) March 30, 2024 September 30, (unaudited) 2023 Assets Current assets Cash and cash equivalents $ 43,645 $ 49,581 Accounts receivable, net 178,312 198,129 Inventories 188,709 171,539 Prepaid expenses and other 9,944 10,963 Total current assets 420,610 430,212 Property, plant and equipment, at cost Land 3,684 3,684 Buildings 50,075 45,538 Plant machinery and equipment 470,836 445,299 Marketing equipment 310,799 296,482 Transportation equipment 15,078 14,367 Office equipment 48,265 47,393 Improvements 64,823 51,319 Construction in progress 30,346 56,116 Total Property, plant and equipment, at cost 993,906 960,198 Less accumulated depreciation and amortization 601,876 574,295 Property, plant and equipment, net 392,030 385,903 Other assets Goodwill 185,070 185,070 Other intangible assets, net 180,298 183,529 Operating lease right-of-use assets 154,104 88,868 Other 3,494 3,654 Total other assets 522,966 461,121 Total Assets $ 1,335,606 $ 1,277,236 Liabilities and Stockholders' Equity Current liabilities Current finance lease liabilities $ 170 $ 201 Accounts payable 95,844 90,758 Accrued insurance liability 16,980 15,743 Accrued liabilities 8,955 14,214 Current operating lease liabilities 19,179 16,478 Accrued compensation expense 19,218 23,341 Dividends payable 14,249 14,209 Total current liabilities 174,595 174,944 Long-term debt 17,000 27,000 Noncurrent finance lease liabilities 506 600 Noncurrent operating lease liabilities 141,726 77,631 Deferred income taxes 81,665 81,310 Other long-term liabilities 4,462 4,233 Stockholders' Equity Preferred stock, $ 1 par value; authorized 10,000,000 shares; none issued - - Com

View Full Filing

View this 10-Q filing on SEC EDGAR