Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-19681 JOHN B. SANFILIPPO & SON, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 36-2419677 ( State or other jurisdiction of ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-19681 JOHN B. SANFILIPPO & SON, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 36-2419677 ( State or other jurisdiction o ...

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) Q1 2024 Earnings Conference Call November 1, 2023 10:00 AM ET Company Participants Jeffrey Sanfilippo – Chief Executive Officer Frank Pellegrino – Chief Financial Officer Conference Call Participants Nick Otton – CWB Wealth Operator Good day and thank you for standing by. Welcome to the John B. Sanfilippo & Son, Inc. First Quarter Fiscal 2024 Operating Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentat ...

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) Q4 2023 Earnings Conference Call August 24, 2023 10:00 AM ET Company Participants Jeffrey Sanfilippo - Chief Executive Officer Frank Pellegrino - Chief Financial Officer Conference Call Participants Daniel Ambrefe - UBS Operator Good day, and thank you for standing by. Welcome to the John B. Sanfilippo & Son, Inc. Fourth Quarter and Full Year 2023 Operating Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorde ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 0-19681 JOHN B. SANFILIPPO & SON, INC. (Exact name of Registrant as specified in its Charter) (State or other jurisdiction of incorporation o ...

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) Q3 2023 Earnings Conference Call May 3, 2023 10:00 AM ET Company Participants Jeffrey Sanfilippo - Chief Executive Officer Frank Pellegrino - Chief Financial Officer Conference Call Participants Operator Good day and welcome to the John B. Sanfilippo & Son, Inc. Third Quarter Fiscal 2023 Operating Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. Instru ...

WASHINGTON, DC 20549 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-19681 JOHN B. SANFILIPPO & SON, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 36-2419677 ( State or other jurisdiction of in ...

Table of Contents (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 29, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-19681 JOHN B. SANFILIPPO & SON, INC. (Exact Name of Registrant as Specified in Its Charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (State or Other Jurisdiction of Incorporation or Or ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited consolidated financial statements, including comprehensive income, balance sheets, stockholders' equity, cash flows, and detailed notes on accounting policies and financial instruments [Consolidated Statements of Comprehensive Income](index=4&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) | Metric | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | Change (YoY) | | :--------------------------- | :------------------------ | :------------------------ | :------------ | | Net sales | $252,601 | $226,329 | +11.6% | | Cost of sales | $201,958 | $174,526 | +15.7% | | Gross profit | $50,643 | $51,803 | -2.2% | | Total operating expenses | $28,229 | $24,465 | +15.4% | | Income from operations | $22,414 | $27,338 | -18.0% | | Interest expense | $661 | $371 | +78.2% | | Income before income taxes | $21,002 | $26,001 | -19.2% | | Income tax expense | $5,457 | $6,752 | -19.2% | | Net income | $15,545 | $19,249 | -19.3% | | Comprehensive income | $15,551 | $19,518 | -20.3% | | Net income per common share-basic | $1.35 | $1.67 | -19.2% | | Net income per common share-diluted | $1.34 | $1.66 | -19.3% | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) | Metric | Sept 29, 2022 ($ thousands) | June 30, 2022 ($ thousands) | Sept 23, 2021 ($ thousands) | Change (QoQ) | Change (YoY) | | :-------------------------- | :------------ | :------------ | :------------ | :----------- | :----------- | | Cash | $298 | $415 | $539 | -28.2% | -44.8% | | Accounts receivable, net | $76,401 | $69,611 | $71,890 | +9.7% | +6.3% | | Inventories | $192,098 | $204,855 | $152,603 | -6.2% | +25.9% | | TOTAL CURRENT ASSETS | $275,543 | $283,164 | $235,439 | -2.7% | +17.0% | | TOTAL ASSETS | $440,771 | $447,262 | $407,161 | -1.5% | +8.3% | | Revolving credit facility borrowings | $42,624 | $40,439 | $45,264 | +5.4% | -5.8% | | TOTAL CURRENT LIABILITIES | $126,170 | $122,762 | $123,834 | +2.8% | +1.9% | | TOTAL LIABILITIES | $171,608 | $168,441 | $178,996 | +1.9% | -4.1% | | TOTAL STOCKHOLDERS' EQUITY | $269,163 | $278,821 | $228,165 | -3.5% | +18.0% | [Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) | Metric | June 30, 2022 ($ thousands) | Sept 29, 2022 ($ thousands) | Change ($ thousands) | | :-------------------------------- | :------------ | :------------ | :------- | | Balance, Total Stockholders' Equity | $278,821 | $269,163 | -$9,658 | | Net income | - | $15,545 | +$15,545 | | Cash dividends ($2.25 per share) | - | $(25,981) | -$25,981 | | Pension liability amortization, net of income tax expense | - | $6 | +$6 | | Stock-based compensation expense | - | $772 | +$772 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) | Metric | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | Change (YoY) ($ thousands) | | :-------------------------------- | :------------------------ | :------------------------ | :------------ | | Net cash provided by operating activities | $30,646 | $903 | +$29,743 | | Net cash used in investing activities | $(5,974) | $(1,237) | -$4,737 | | Net cash (used in) provided by financing activities | $(24,789) | $201 | -$24,990 | | Net decrease in cash | $(117) | $(133) | +$16 | | Cash, end of period | $298 | $539 | -44.8% | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) [Note 1 – Basis of Presentation and Description of Business](index=9&type=section&id=Note%201%20%E2%80%93%20Basis%20of%20Presentation%20and%20Description%20of%20Business) - The company is a leading processor and distributor of peanuts, pecans, cashews, walnuts, almonds, and other nuts in the United States[25](index=25&type=chunk) - Products are sold under Fisher, Orchard Valley Harvest, Squirrel Brand, Southern Style Nuts, and a variety of private brands[25](index=25&type=chunk) - Distribution channels include food retailers (consumer), commercial ingredient users, and contract packaging customers[25](index=25&type=chunk) [Note 2 – Revenue Recognition](index=9&type=section&id=Note%202%20%E2%80%93%20Revenue%20Recognition) - Revenue is recognized at the point in time when product control is transferred to the customer, typically upon shipment or delivery[31](index=31&type=chunk) - Variable consideration, such as promotional allowances and rebates, is accounted for as a reduction in revenue and estimated quarterly[32](index=32&type=chunk)[33](index=33&type=chunk) Revenue by Distribution Channel | Distribution Channel | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | | :------------------- | :------------------------ | :------------------------ | | Consumer | $196,547 | $179,761 | | Commercial Ingredients | $31,507 | $28,156 | | Contract Packaging | $24,547 | $18,412 | | **Total** | **$252,601** | **$226,329** | [Note 3 - Leases](index=11&type=section&id=Note%203%20-%20Leases) - The company leases equipment and a small warehouse, with remaining lease terms up to **4.8 years**[37](index=37&type=chunk)[38](index=38&type=chunk) Lease Assets and Liabilities | Metric | Sept 29, 2022 ($ thousands) | June 30, 2022 ($ thousands) | Sept 23, 2021 ($ thousands) | | :-------------------------- | :------------ | :------------ | :------------ | | Operating lease right-of-use assets | $2,430 | $2,303 | $3,171 | | Total lease liabilities | $2,457 | $2,334 | $3,216 | Lease Costs | Metric | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | | :------------------ | :------------------------ | :------------------------ | | Operating lease costs | $474 | $444 | | Variable lease costs | $57 | $17 | | **Total lease cost** | **$531** | **$461** | - The company leases office space in its Elgin, Illinois building, with approximately **70% of the rentable area currently vacant**[43](index=43&type=chunk)[115](index=115&type=chunk) [Note 4 – Inventories](index=13&type=section&id=Note%204%20%E2%80%93%20Inventories) Inventory Breakdown | Inventory Type | Sept 29, 2022 ($ thousands) | June 30, 2022 ($ thousands) | Sept 23, 2021 ($ thousands) | | :----------------------- | :------------ | :------------ | :------------ | | Raw material and supplies | $60,657 | $77,558 | $55,159 | | Work-in-process and finished goods | $131,441 | $127,297 | $97,444 | | **Total** | **$192,098** | **$204,855** | **$152,603** | - Total inventories increased by **$39.5 million (25.9%) year-over-year**, driven by higher commodity acquisition costs for pecans and increased quantities of finished goods and work-in-process[84](index=84&type=chunk)[110](index=110&type=chunk) [Note 5 – Goodwill and Intangible Assets](index=13&type=section&id=Note%205%20%E2%80%93%20Goodwill%20and%20Intangible%20Assets) Net Intangible Assets | Metric | Sept 29, 2022 ($ thousands) | June 30, 2022 ($ thousands) | Sept 23, 2021 ($ thousands) | | :------------------- | :------------ | :------------ | :------------ | | Net intangible assets | $7,621 | $8,065 | $9,457 | - Total amortization expense related to intangible assets was **$444 thousand** for the quarter ended September 29, 2022[49](index=49&type=chunk) - Goodwill of **$9.65 million** relates entirely to the Squirrel Brand acquisition in fiscal 2018, with no change in carrying amount during the quarter[49](index=49&type=chunk) [Note 6 – Credit Facility](index=14&type=section&id=Note%206%20%E2%80%93%20Credit%20Facility) - The company has a **$117.5 million** senior secured revolving credit facility[51](index=51&type=chunk) - As of September 29, 2022, **$70.7 million** of available credit remained under the facility, and the company was in compliance with all financial covenants[52](index=52&type=chunk)[122](index=122&type=chunk) [Note 7 – Earnings Per Common Share](index=14&type=section&id=Note%207%20%E2%80%93%20Earnings%20Per%20Common%20Share) Weighted Average Shares Outstanding | Metric | Q1 FY2023 (Sept 29, 2022) | Q1 FY2022 (Sept 23, 2021) | | :-------------------------------- | :------------------------ | :------------------------ | | Weighted average number of shares outstanding – basic | 11,553,432 | 11,519,472 | | Weighted average number of shares outstanding – diluted | 11,617,113 | 11,588,484 | [Note 8 – Stock-Based Compensation Plans](index=14&type=section&id=Note%208%20%E2%80%93%20Stock-Based%20Compensation%20Plans) Stock-Based Compensation Expense | Metric | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | | :-------------------------- | :------------------------ | :------------------------ | | Stock-based compensation expense | $772 | $703 | - As of September 29, 2022, total unrecognized compensation expense for non-vested RSUs was **$3.359 million**, expected to be recognized over a weighted average period of **1.2 years**[54](index=54&type=chunk) [Note 9 – Retirement Plan](index=14&type=section&id=Note%209%20%E2%80%93%20Retirement%20Plan) Net Periodic Benefit Cost | Metric | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | | :-------------------- | :------------------------ | :------------------------ | | Service cost | $200 | $248 | | Interest cost | $342 | $254 | | Amortization of loss | $7 | $364 | | **Net periodic benefit cost** | **$549** | **$866** | [Note 10 – Accumulated Other Comprehensive Loss](index=15&type=section&id=Note%2010%20%E2%80%93%20Accumulated%20Other%20Comprehensive%20Loss) Accumulated Other Comprehensive Loss | Metric | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | | :-------------------------------- | :------------------------ | :------------------------ | | Balance at beginning of period | $(2,480) | $(9,025) | | Net current-period other comprehensive income | $6 | $269 | | Balance at end of period | $(2,474) | $(8,756) | [Note 11 – Commitments and Contingent Liabilities](index=15&type=section&id=Note%2011%20%E2%80%93%20Commitments%20and%20Contingent%20Liabilities) - The company is a party to various legal proceedings in the ordinary course of business[60](index=60&type=chunk) - Management believes the ultimate outcomes will not materially affect financial position, results of operations, or cash flows, but acknowledges the possibility of unfavorable outcomes[60](index=60&type=chunk) [Note 12 – Fair Value of Financial Instruments](index=16&type=section&id=Note%2012%20%E2%80%93%20Fair%20Value%20of%20Financial%20Instruments) - Carrying values of cash, trade accounts receivable, accounts payable, and revolving credit facility borrowings approximate fair values due to short-term maturities and market rates[61](index=61&type=chunk)[62](index=62&type=chunk) Debt Carrying and Fair Values | Metric | Sept 29, 2022 ($ thousands) | June 30, 2022 ($ thousands) | Sept 23, 2021 ($ thousands) | | :-------------------------------- | :------------ | :------------ | :------------ | | Carrying value of current and long-term debt | $9,660 | $10,927 | $13,812 | | Fair value of current and long-term debt | $9,583 | $11,179 | $15,360 | [Note 13 – Garysburg, North Carolina Facility](index=16&type=section&id=Note%2013%20%E2%80%93%20Garysburg,%20North%20Carolina%20Facility) - In Q1 FY2022, the Garysburg, North Carolina facility was sold for **$4.0 million**, resulting in a **$2.349 million** gain[64](index=64&type=chunk) [Note 14 – Recent Accounting Pronouncements](index=16&type=section&id=Note%2014%20%E2%80%93%20Recent%20Accounting%20Pronouncements) - No recent accounting pronouncements were adopted in the current fiscal year, and none are expected to have a material impact on the consolidated financial statements[65](index=65&type=chunk) [Note 15 – Subsequent Event](index=16&type=section&id=Note%2015%20%E2%80%93%20Subsequent%20Event) - On November 3, 2022, the Board of Directors declared a special cash dividend of **$1.00 per share**, payable on December 21, 2022[66](index=66&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Q1 FY2023 financial performance, condition, and strategic initiatives, addressing impacts of inflation and supply chain issues [OVERVIEW](index=17&type=section&id=OVERVIEW) - The company's Long-Range Plan focuses on growing non-branded business, transforming key brands (Fisher, Orchard Valley Harvest, Squirrel Brand), diversifying into high-growth snacking segments, and increasing sales through innovation and targeted acquisitions[70](index=70&type=chunk) - Key challenges include significant inflation, potential economic downturn, supply chain disruptions (pallets, packaging, imported ingredients, transportation), and increased labor costs due to a tightening labor market[72](index=72&type=chunk)[73](index=73&type=chunk)[75](index=75&type=chunk) - Consumers are shifting preferences due to inflation, potentially moving to private brands or lower-priced nuts, and favoring value-focused retail channels. E-commerce growth has decelerated[73](index=73&type=chunk) - The conflict in Ukraine has exacerbated supply chain disruptions, especially related to sunflower oil and aluminum packaging[75](index=75&type=chunk) - While transportation capacity issues began to ease in Q3 FY2022 and continued into FY2023, intermodal capacity remains tight, and fuel prices are volatile[76](index=76&type=chunk) - The company anticipates potential ongoing challenges from the COVID-19 pandemic in fiscal 2023, though fiscal 2022 saw significant sales volume improvement for foodservice and retail customers as restrictions eased[79](index=79&type=chunk) [QUARTERLY HIGHLIGHTS](index=19&type=section&id=QUARTERLY%20HIGHLIGHTS) Q1 FY2023 Financial Highlights | Metric | Q1 FY2023 (Sept 29, 2022) ($ millions) | Q1 FY2022 (Sept 23, 2021) ($ millions) | Change (YoY) | | :-------------------------- | :------------------------ | :------------------------ | :------------ | | Net sales | $252.6 | $226.3 | +11.6% | | Sales volume (pounds sold) | +1.8% | N/A | +1.8% | | Gross profit | $50.6 | $51.8 | -2.2% | | Gross profit margin | 20.0% | 22.9% | -2.9 pp | | Total operating expenses | $28.2 | $24.5 | +15.4% | | Total inventory value | $192.1 | $152.6 | +25.9% | - Acquisition costs for most major tree nuts are expected to be flat or decrease, while peanut acquisition costs are expected to increase modestly in the 2022 crop year[85](index=85&type=chunk) [RESULTS OF OPERATIONS](index=20&type=section&id=RESULTS%20OF%20OPERATIONS) Key Financial Results | Metric | Q1 FY2023 (Sept 29, 2022) ($ millions) | Q1 FY2022 (Sept 23, 2021) ($ millions) | Change (YoY) | | :--------------------------- | :------------------------ | :------------------------ | :------------ | | Net Sales | $252.6 | $226.3 | +11.6% | | Gross Profit | $50.6 | $51.8 | -2.2% | | Income from Operations | $22.4 | $27.3 | -18.0% | | Net Income | $15.5 | $19.2 | -19.3% | - Net sales increased **11.6%** due to a **9.6%** increase in weighted average sales price per pound and a **1.8%** increase in sales volume[88](index=88&type=chunk) Net Sales by Distribution Channel | Distribution Channel | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | $ Change ($ thousands) | % Change | | :------------------- | :------------------------ | :------------------------ | :------- | :------- | | Consumer | $196,547 | $179,761 | $16,786 | 9.3% | | Commercial Ingredients | $31,507 | $28,156 | $3,351 | 11.9% | | Contract Packaging | $24,547 | $18,412 | $6,135 | 33.3% | | **Total** | **$252,601** | **$226,329** | **$26,272** | **11.6%** | - Consumer channel sales volume decreased **0.6%** due to lost private brand distribution, partially offset by increased distribution at a mass merchandising retailer. Fisher recipe nuts volume increased **20.0%**[91](index=91&type=chunk) - Gross profit decreased by **$1.2 million (2.2%)** and gross profit margin declined to **20.0% from 22.9%**, primarily due to higher acquisition costs for nuts and other inflationary cost increases[95](index=95&type=chunk) - Total operating expenses increased by **$3.8 million (15.4%)** to **$28.2 million**, mainly due to a non-recurring gain on sale of a facility in the prior year and increases in compensation expenses[83](index=83&type=chunk)[96](index=96&type=chunk)[99](index=99&type=chunk) [LIQUIDITY AND CAPITAL RESOURCES](index=22&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) - The company's liquidity is primarily supported by operating cash flows and its **$117.5 million** revolving credit facility, which are expected to be sufficient for the next twelve months[107](index=107&type=chunk) Cash Flow Summary | Metric | Q1 FY2023 (Sept 29, 2022) ($ thousands) | Q1 FY2022 (Sept 23, 2021) ($ thousands) | $ Change ($ thousands) | | :-------------------------------- | :------------------------ | :------------------------ | :------- | | Operating activities | $30,646 | $903 | +$29,743 | | Investing activities | $(5,974) | $(1,237) | -$4,737 | | Financing activities | $(24,789) | $201 | -$24,990 | | Net decrease in cash | $(117) | $(133) | +$16 | - Net cash provided by operating activities increased significantly due to a decreased use of working capital, particularly a **$12.8 million** decrease in inventories[109](index=109&type=chunk) - Cash used in investing activities increased due to the non-recurrence of **$3.9 million** in proceeds from the Garysburg facility sale in the prior year, coupled with **$5.9 million** in capital expenditures[113](index=113&type=chunk) - Cash used in financing activities was **$24.8 million**, a significant shift from the prior year, primarily due to lower net short-term borrowings (**$2.2 million** vs. **$36.6 million**) and reduced dividends paid[114](index=114&type=chunk) - The company has a **$117.5 million** senior secured revolving credit facility (weighted average interest rate **5.4%** in Q1 FY2023) and a Mortgage Facility (fixed at **4.25%** per annum) maturing in March 2025 and March 2023, respectively[117](index=117&type=chunk)[119](index=119&type=chunk)[123](index=123&type=chunk) - A **$8.2 million** debt obligation is outstanding as of September 29, 2022, related to the sale-leaseback of Selma Properties, with the lease term extended to September 2026[124](index=124&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=26&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material change in the company's assessment of market risk sensitivity has occurred since the most recent Annual Report on Form 10-K - No material change in the company's assessment of market risk sensitivity since the presentation in its Annual Report on Form 10-K for the fiscal year ended June 30, 2022[131](index=131&type=chunk) [Item 4. Controls and Procedures](index=26&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - The company's disclosure controls and procedures were effective as of September 29, 2022[133](index=133&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended September 29, 2022[134](index=134&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 11 for details on legal proceedings, confirming the company's involvement in ordinary course legal matters - For a discussion of legal proceedings, refer to Note 11 – 'Commitments and Contingent Liabilities' in Part I, Item 1 of this Form 10-Q[136](index=136&type=chunk) [Item 1A. Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) No significant changes to the risk factors identified in the Annual Report on Form 10-K occurred during the first quarter of fiscal 2023 - No significant changes to the risk factors identified in the Annual Report on Form 10-K for the fiscal year ended June 30, 2022, occurred during the first quarter of fiscal 2023[138](index=138&type=chunk) [Item 6. Exhibits](index=26&type=section&id=Item%206.%20Exhibits) This section provides an index of all exhibits filed with the Form 10-Q, including corporate governance, compensation, credit, and certification documents - The exhibit index lists various corporate documents (e.g., Restated Certificate of Incorporation, Amended and Restated Bylaws), incentive plans, credit agreements, and certifications (e.g., Sarbanes-Oxley Act certifications)[143](index=143&type=chunk)[144](index=144&type=chunk)[145](index=145&type=chunk) [SIGNATURE](index=30&type=section&id=SIGNATURE) This section formally concludes the report, signed by the Chief Financial Officer, Executive Vice President, Finance and Administration - The report was signed by Frank S. Pellegrino, Chief Financial Officer, Executive Vice President, Finance and Administration, on November 3, 2022[150](index=150&type=chunk)

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) Q4 2022 Earnings Conference Call August 25, 2022 10:00 AM ET Company Representatives Jeffrey Sanfilippo - Chief Executive Officer Jasper B Sanfilippo Jr. - Chief Operating Officer Mike Valentine - Group President Frank Pellegrino - Chief Financial Officer Conference Call Participants Operator Good day, and thank you for standing by. Welcome to the John B. Sanfilippo & Son, Incorporated Fourth Quarter and Fiscal 2022 Year-End Operating Results Conference Call. At ...