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ELGIN, Ill. - John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) reported fourth quarter earnings that exceeded expectations, with diluted earnings per share surging 33.7% to $1.15 despite relatively flat revenue performance.
The nut and dried fruit processor posted fourth quarter revenue of $269.1 million, a slight decrease of 0.2% compared to the same period last year. While sales volume declined by 5.9% to 86.2 million pounds, this was largely offset by a 6.0% increase in the weighted average selling price per pound, driven by higher commodity acquisition costs for peanuts and most tree nuts.
Gross profit decreased 2.4% to $48.8 million, with gross margin contracting slightly to 18.1% from 18.5% in the prior year quarter. However, operating expenses fell significantly by $6.7 million, primarily due to lower incentive compensation, reduced freight costs, and decreased marketing spending.
"I’m proud of how our team navigated a challenging and constantly evolving operating environment throughout fiscal 2025," said Jeffrey T. Sanfilippo, Chief Executive Officer. "Although our financial performance fell short of our expectations, we gained positive momentum as the year progressed—highlighted by year-over-year diluted EPS growth of 49.6% and 33.7% in the third and fourth quarters, respectively."
For the full fiscal year 2025, the company reported record net sales of $1.11 billion, an increase of 3.8% YoY, while full-year diluted EPS decreased 2.3% to $5.03. The company also announced a 5.9% increase in its annual dividend to $0.90 per share, along with a special dividend of $0.60 per share.
Looking ahead, management expressed optimism about fiscal 2026 while acknowledging ongoing challenges including tariffs, inflation, unpredictable commodity costs, and broader macroeconomic uncertainties.
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