JBSS Q1 2026 Earnings Transcript

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Tue, April 21, 2026 astatine 12:34 PM CDT 15 min read

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Oct. 30, 2025 astatine 10 a.m. ET

• Chief Executive Officer — Jeffrey T. Sanfilippo

• Chief Financial Officer — Frank Pellegrino

We began the fiscal twelvemonth with beardown momentum, continuing to execute our Long-Range Plan with subject and focus. In this quarter, we delivered a 59% betterment successful diluted net per share, underscoring the spot of our strategy, improvements successful our commercialized ingredients and declaration manufacturing businesses and our relentless absorption connected generating operational efficiencies passim our organization. We person seen directional improvements successful income measurement implicit the past 3 quarters, signaling advancement successful stabilizing our wide demand. These results were achieved successful a challenging snack nutrient situation arsenic user behaviour continues to germinate successful effect to broader macroeconomic shifts. Our achievements bespeak the hard enactment and committedness of our employees whose contributions stay captious to our continued success.

Yesterday, the company's Board of Directors approved a peculiar currency dividend of $1 per stock connected each issued and outstanding shares of communal banal of the institution and $1 per stock connected each issued and outstanding shares of Class A communal stock. The peculiar dividend volition instrumentality astir $11.7 cardinal to institution stockholders and volition beryllium paid connected December 30, 2025, to stockholders of grounds arsenic of the adjacent of concern connected December 1, 2025. Our fiscal show implicit the past respective quarters provided america the accidental to state the peculiar dividend, which reinforces our extremity of creating semipermanent stockholder worth done the liable usage of cash.

The peculiar dividend would not beryllium imaginable without the hard enactment and dedication of each JBSS squad members during our engaged vacation season. Price ostentation and user sentiment is simply a situation for the snack class contiguous crossed galore nutrient segments. We faced important seed commodity outgo increases implicit the past twelvemonth successful summation to precocious prices for cocoa. Our teams person worked hard to mitigate terms increases and offered our customers respective options to negociate costs, which included battalion size changes, look adjustments and alternate constituent considerations. Some retailers were proactive and made changes to their portfolio. Our teams besides worked hard to thrust further costs retired of our operations and proviso concatenation and negociate our inventory levels.

Demand readying becomes challenging erstwhile user behaviour changes and markets go volatile. So we are prioritizing resources to enactment with our cardinal retail partners connected amended forecasting and bid planning. For example, we experienced a brushed back-to-school play for the snack barroom class successful our archetypal quarter. Our insights squad and income and selling are moving with our customers to recognize the dynamics of the barroom class and adjusting promotional and measurement plans based connected existent trends to negociate inventory levels and aboriginal accumulation schedules. This clip past year, the company's profitability was impacted by a onetime concession to a snack barroom lawsuit owed to capableness constraints and work levels.