J+J Snack Foods: Reports Q2 Fiscal 2023 Results

Pennsauken / NJ. (jj) J+J Snack Foods Corporation reported financial results for the second quarter ended March 25, 2023. Dan Fachner, President and CEO, commented, «Our sales this fiscal quarter was the highest second quarter sales in company history, and was driven by strong demand across all three business segments. The quarter benefited from marked improvement in unit volumes for our core brands and products, including strong performances in soft pretzels, churros, frozen novelties and frozen beverages. Higher volumes, combined with the impact of price increases in fiscal 2022, resulted in a 20.0 percent increase in net sales to USD 337.9 million. Our Icee frozen beverages segment delivered a strong quarter growing beverage sales approximately 18 percent through expanded placement, new customers, and a rebounding theater channel. In addition, we are beginning to realize the benefits of our various operational initiatives, resulting in improvement across a number of key performance metrics including distribution expenses and gross margin. These improvements combined with strong sales led to significant growth in adjusted earnings per share.» For additional information please read the PDF file below (115 KB):