J&J Snack Foods Corp. (JJSF) reported first-quarter fiscal 2025 results, wherein the top line beat the Zacks Consensus Estimate and showed year-over-year growth, while the bottom missed the same and declined year over year.J&J Snack Foods’ revenue growth was driven by strong sales in Frozen Beverages, solid performance across most core Food Service products and strong growth in frozen novelties within Retail Supermarkets. Despite this, results were impacted by a less favorable sales mix, particularly in the ...

Exhibit 99.1 J & J SNACK FOODS REPORTS FISCAL 2025 FIRST QUARTER REVENUE GROWTH OF 4.1% TO $362.6M Announces $50M Share Repurchase Authorization Mount Laurel, NJ, February 3, 2025 – J & J Snack Foods Corp. (NASDAQ: JJSF) (the "Company") today reported financial results for the first quarter ended December 28, 2024. | | | First Quarter | | | --- | --- | --- | --- | | | Actuals | $ v. LY | % v. LY | | Net Sales | $362.6M | $14.3M | 4.1% | | Gross Profit | $93.9M | ($0.7M) | (0.7%) | | Operating Income | $6.2M ...

MOUNT LAUREL, N.J., Feb. 03, 2025 (GLOBE NEWSWIRE) -- J & J Snack Foods Corp. (NASDAQ:JJSF) (the "Company") today reported financial results for the first quarter ended December 28, 2024.   First QuarterActuals$ v. LY% v. LYNet Sales$362.6M$14.3M4.1%Gross Profit $93.9M($0.7M)(0.7%)Operating Income$6.2M($3.4M)(35.6%)Net Earnings$5.1M($2.1M)(29.4%)Earnings per Diluted Share $0.26($0.11)(29.7%)    Adjusted Operating Income$8.2M($5.4M)(39.7%)Adjusted EBITDA$25.3M($4.9M)(16.3%)Adjusted Earnings per Diluted Share ...

Announces $50M Share Repurchase AuthorizationMOUNT LAUREL, N.J., Feb. 03, 2025 (GLOBE NEWSWIRE) -- J & J Snack Foods Corp. (NASDAQ: JJSF) (the “Company”) today reported financial results for the first quarter ended December 28, 2024. First QuarterActuals$ v. LY% v. LYNet Sales$362.6M$14.3M4.1%Gross Pr ...

MOUNT LAUREL, N.J., Jan. 13, 2025 (GLOBE NEWSWIRE) -- J & J Snack Foods Corp. (NASDAQ: JJSF) announced today that it has scheduled a conference call and webcast to discuss its fiscal 2025 first quarter financial results on Tuesday, February 4, 2025, at 10:00 am Eastern time. Conference call participants should pre-register by clicking on this Registration Link to receive the dial-in number and a personal PIN, which are required to access the conference call. Questions will be taken only from participants on ...

MOUNT LAUREL, N.J., Jan. 13, 2025 (GLOBE NEWSWIRE) -- J & J Snack Foods Corp. (NASDAQ:JJSF) announced today that it has scheduled a conference call and webcast to discuss its fiscal 2025 first quarter financial results on Tuesday, February 4, 2025, at 10:00 am Eastern time. Conference call participants should pre-register by clicking on this Registration Link to receive the dial-in number and a personal PIN, which are required to access the conference call. Questions will be taken only from participants on ...

Revenue Composition - Soft pretzel sales accounted for 18% of the Company's revenue in fiscal year 2024, down from 19% in both fiscal years 2023 and 2022[17]. - Frozen novelties sales represented 17% of the Company's revenue in fiscal year 2024, consistent with fiscal year 2023, and up from 14% in fiscal year 2022[21]. - Churro sales were 7% of the Company's sales in fiscal years 2024 and 2023, and 6% in fiscal year 2022[26]. - Bakery products sales constituted 26% of the Company's sales in both fiscal years 2024 and 2023, down from 29% in fiscal year 2022[28]. - Frozen beverage sales increased to 15% of the Company's revenue in fiscal year 2024, compared to 14% in fiscal year 2023 and 13% in fiscal year 2022[29]. Customer Concentration - The Company's top ten customers accounted for 45% of sales in fiscal year 2024, with the largest customer contributing 9%[35]. - The company's top ten customers accounted for 45% of sales in fiscal year 2024, with the largest customer representing 9% of total sales[75]. Operational Segments - The Company operates in three segments: Food Service, Retail Supermarkets, and Frozen Beverages, with sales primarily to foodservice customers[12]. Product Development and Innovation - The Company develops and introduces new products routinely, evaluating their success based on sales and profit levels[41]. - Sales of new products reached approximately $24.7 million in the first twelve months since their introduction, primarily from churros[152]. - The company launched the Hola! Churros brand in fiscal year 2023 and expanded the SuperPretzel brand with Bavarian Sticks[131]. - The company acquired Thinsters in fiscal year 2024, enhancing its product portfolio[131]. Seasonal Sales Trends - The Company's sales are seasonal, with higher sales of frozen beverages and novelties during warmer months[43]. - The company’s sales are affected by seasonal demand, with higher demand during summer months for ICEE and frozen novelty products[101]. Foreign Operations - Sales from foreign operations were $73.4 million in fiscal year 2024, up from $70.2 million in 2023 and $45.2 million in 2022, indicating a growth trend[53]. - The company’s foreign operations accounted for 5.0% of total assets as of September 28, 2024, compared to 4.8% in the previous year[53]. - The company reported foreign operations sales of $73.4 million, $70.2 million, and $45.2 million for fiscal years 2024, 2023, and 2022, respectively, indicating a growth trend[90]. - Total assets of foreign operations were approximately $67.6 million, representing 5.0% of total assets as of September 28, 2024, compared to $61.5 million or 4.8% of total assets as of September 30, 2023[90]. Employee and Safety Metrics - Approximately 5,000 full and part-time employees are employed, with about 1,500 production and distribution employees covered by collective bargaining agreements[57]. - The company maintains a safety culture with Total Recordable Incident Rate (TRIR) and Days Away, Restricted or Transferred (DART) incident rates lower than food manufacturing averages[58]. Compliance and Risk Management - The company’s compliance with food safety regulations did not materially affect capital expenditures or earnings in fiscal 2024 and is not expected to impact fiscal 2025[54]. - The company has implemented Corporate Standards aligned with Global Food Safety Initiative (GFSI) standards to ensure product safety and quality[55]. - The company identified a material weakness in internal control over financial reporting related to ineffective information technology general controls, which could lead to material misstatements in financial statements[99]. - The company is developing a remediation plan to address the identified material weakness, which if insufficient, could adversely affect business and financial condition[100]. - The company faces risks related to manufacturing capacity constraints that could negatively impact customer service levels and demand for products[81]. - The company has a cybersecurity risk management program aligned with industry best practices to assess and manage material cybersecurity risks[104]. - The company has established a structured approach to investigate and mitigate cybersecurity incidents, including annual external penetration testing and employee training[106]. Financial Performance - Net sales increased by $15.9 million, or 1%, to $1,574.8 million in fiscal 2024, driven by growth across all business segments[136]. - Gross profit rose by $16.3 million, or 4%, to $486.1 million, with gross profit as a percentage of sales increasing to 30.9% from 30.1%[138]. - Total operating expenses increased by $8.2 million, or 2%, to $368.6 million, with operating expenses as a percentage of sales rising to 23.4%[139]. - Operating income increased by $8.0 million, or 7.3%, to $117.5 million, with operating income as a percentage of net sales improving to 7.5%[150]. - Net earnings increased by $7.6 million, or 10%, to $86.6 million, translating to $4.45 per diluted share[143]. - Investment income increased by $0.5 million, or 18%, to $3.2 million due to higher average cash balances and interest rates[141]. - Interest expense decreased by $2.9 million, or 62%, to $1.8 million due to reduced average outstanding borrowings[141]. Capital Expenditures and Investments - Cash flows from investing activities totaled $(77.7) million in fiscal 2024, compared to $(93.2) million in fiscal 2023, reflecting strategic investments[170]. - Cash and cash equivalents stood at $73.4 million as of September 28, 2024, indicating a solid liquidity position[176]. - Dividends paid increased to $56.96 million in fiscal 2024, reflecting a raised quarterly dividend[175]. - The company has material cash requirements including approximately $122 million in purchase commitments for raw materials, which are managed through forward purchasing to mitigate price fluctuations[182]. - The company has operating lease payment obligations of $159.8 million as of September 28, 2024, with $19.1 million payable within the next 12 months[183]. Manufacturing and Distribution - The company’s manufacturing equipment is primarily sourced from independent third parties, ensuring availability and reducing supply chain risks[49]. - A fire incident at the Holly Ridge plant in North Carolina on August 19, 2024, interrupted operations, highlighting risks associated with manufacturing and distribution[78]. - The company opened three regional distribution centers, projected to drive significant cost reductions in warehousing and distribution costs[131]. - Six new production lines were added, significantly expanding capacity to meet growth opportunities in core products[131]. - A new ERP system was implemented in fiscal 2022, creating efficiencies and streamlining internal processes[131]. - The company leases approximately 172 smaller warehouse and distribution facilities across 45 states and several countries[114]. Legal and Regulatory Matters - No material pending legal proceedings were reported, other than ordinary routine litigation incidental to the business[115]. Goodwill and Credit Losses - The company has evaluated goodwill for impairment and found that the fair value of each reporting unit with goodwill exceeded its carrying value by at least 50% as of September 28, 2024[196]. - The company maintains an allowance for estimated credit losses based on historical experience and other factors, continuously monitoring collections and payments from customers[194]. Accounting Policies - The company has not made any material changes in the accounting methodology used to recognize revenue during the past three fiscal years, with revenue recognized at a point-in-time when control is transferred to customers[193]. - The company has off-balance sheet arrangements for purchase commitments as of September 28, 2024[184]. - The company uses various models to determine the fair value of assets acquired and liabilities assumed in business combinations, including the net realizable value method and the relief of royalty method[208].

MOUNT LAUREL, N.J., Nov. 21, 2024 (GLOBE NEWSWIRE) -- J & J Snack Foods Corp. (NASDAQ: JJSF) (the “Company”) today announced that Shawn Munsell has been named Chief Financial Officer of the Company, effective December 2, 2024. Mr. Munsell takes over the role from Ken Plunk, who is retiring and will support the transition until the end of the year. Mr. Munsell is a seasoned executive with over 15 years of finance and operating leadership experience at US publicly listed companies in food and agriculture. Mos ...

Financial Data and Key Metrics Changes - J&J Snack Foods achieved record annual sales and gross profit in fiscal 2024, with adjusted EBITDA increasing by 10.2% [8][60] - Reported sales for the fiscal year grew by 1% and 2.8% on a normalized basis, while fourth quarter reported sales decreased by 3.9% but increased by 3.9% on a normalized basis [11][42] - Gross margin improved by 80 basis points to 30.9% for the fiscal year, but decreased by 110 basis points to 31.8% in the fourth quarter compared to the previous year [11][52] Business Line Data and Key Metrics Changes - In the Foodservice segment, reported sales grew by 0.3% for the fiscal year and 2.4% on a normalized basis, with declines in churros and soft pretzels in the fourth quarter [16][43] - Retail segment reported sales increased by 2.7% and normalized sales by 4.4% for the fiscal year, driven by the expansion of SUPERPRETZEL products [23][50] - Frozen Beverages reported sales increased by 1.9% on a reported basis and 3% on a normalized basis for the year, with improvements noted in the theater channel [27][48] Market Data and Key Metrics Changes - The company experienced softer consumer trends in key channels such as amusement, convenience, theaters, restaurants, and retail, impacting sales [9][12] - Dippin' Dots sales grew low single digits on a normalized basis for the year, with expectations for improvement in core channels [17][18] - The retail segment saw a decline in frozen novelty sales, primarily due to softer sales in the Luigi brand [26] Company Strategy and Development Direction - The company remains focused on executing a strategy of growing core brands and creating cross-selling opportunities to drive incremental sales [15] - There is confidence in the long-term performance of the churro business, with new product launches and partnerships expected to drive growth [20] - The company is optimistic about the growth potential of its core products and new product launches as it enters fiscal 2025 [37] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer spending pressures are expected to subside as the economy stabilizes, particularly post-election [68] - There is optimism regarding the recovery of the theater channel with a strong lineup of upcoming films [66][68] - The company anticipates improved sales across its product lines as consumer confidence returns in fiscal 2025 [37][60] Other Important Information - The company is in the process of searching for a new CFO, as the current CFO will be retiring at the end of the calendar year [34] - The company maintains a strong liquidity position with $73.4 million in cash and no debt, allowing for continued investment in growth [61][62] Q&A Session Summary Question: Where is the greatest pressure in traffic being seen? - Management indicated that declines were noted in the theater and convenience sectors, but expressed confidence in a strong recovery due to upcoming movie releases [66][68] Question: Can you elaborate on the margin pressure and mix headwinds? - Management explained that the loss of a key selling week significantly impacted margins, particularly affecting high-margin products [70][72] Question: What are the expectations for margin improvement in fiscal 2025? - Management expects gross margins to improve to over 31% in fiscal 2025, with ongoing initiatives to enhance operational efficiency [84][86] Question: How is the marketing budget expected to evolve? - The marketing budget is anticipated to remain flat around 7.4% of sales, with a focus on digital and targeted marketing strategies [96] Question: What is the outlook for normalized sales growth in fiscal 2025? - Management expressed optimism for continued growth, citing a diverse portfolio that allows for resilience against economic downturns [98]

J&J Snack Foods (JJSF) reported $426.76 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 3.9%. EPS of $1.60 for the same period compares to $1.73 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $430.07 million, representing a surprise of -0.77%. The company delivered an EPS surprise of -14.89%, with the consensus EPS estimate being $1.88.While investors closely watch year-over-year changes in headline numbers -- revenue and earning ...