J&J Snack Foods Q3 Profit Drops 20%, Revenue Misses on Bakery Weakness
JJSF is trading near its 52-week low of $68.87 (14% above the low).
Summary
J&J Snack Foods reported a 20% drop in Q3 net income to $35.3M, or $1.88 per share, from $44.2M a year ago. Revenue fell 6.2% to $426M, missing the $427.7M consensus, driven by weakness in bakery and frozen beverage segments. Adjusted EPS of $1.96 beat analyst expectations of $1.70, partly due to a prior-year insurance gain that inflated the comparison. This follows a Q2 that saw a 65% earnings drop amid restructuring costs, though the company has been actively buying back shares. The revenue miss and segment declines raise concerns about demand trends heading into the final quarter.
At the time of this announcement, JJSF was trading at $78.64 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $68.87 to $129.24. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.