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Overview of J&J Snack Foods Corp. (NASDAQ: JJSF)
J&J Snack Foods Corp. is a prominent player in the snack food and frozen beverage industry, recognized for its innovative approach to creating fun and nostalgic snack experiences. The company operates across two primary channels: foodservice and retail supermarkets, catering to a diverse customer base that includes restaurants, convenience stores, supermarkets, entertainment venues, and educational institutions. With a robust portfolio of iconic brands and products, J&J Snack Foods has established itself as a leader in delivering high-quality, affordable, and enjoyable snack options.
Core Business Segments
J&J Snack Foods operates through three main business segments:
- Foodservice: This segment focuses on providing snacks, desserts, and baked goods directly to foodservice operators. Products like SUPERPRETZEL soft pretzels, churros, funnel cakes, and bakery goods are staples in this category, often found in theaters, amusement parks, and stadiums.
- Retail Supermarkets: Under this segment, the company offers frozen and prepackaged snack products to retail outlets. Popular brands include LUIGI'S Real Italian Ice, WHOLE FRUIT frozen fruit bars, and Dippin' Dots, catering to consumers seeking convenient and flavorful treats.
- Frozen Beverages: J&J Snack Foods is a market leader in frozen beverages, with brands like ICEE, SLUSH PUPPIE, and PARROT ICE. These products are distributed across the United States, Mexico, and Canada, serving both retail and foodservice customers.
Product Portfolio
The company's extensive product lineup spans various categories, including:
- Soft Pretzels: SUPERPRETZEL and Pretzel Fillers are flagship brands within this category.
- Frozen Beverages: ICEE and SLUSH PUPPIE are household names synonymous with refreshing frozen drinks.
- Frozen Desserts: Products like LUIGI'S Real Italian Ice, WHOLE FRUIT sorbet, and Minute Maid frozen juice bars offer a range of frozen treat options.
- Bakery Goods: Brands such as Mary B's biscuits, Daddy Ray's fruit bars, and Country Home Bakers provide baked goods for both retail and foodservice markets.
- Specialty Snacks: Churros, funnel cakes, and the recently acquired Thinsters cookies reflect the company's focus on niche snack categories.
Competitive Position
J&J Snack Foods differentiates itself through its diversified product offerings and strategic acquisitions. By integrating niche brands like Dippin' Dots and Thinsters into its portfolio, the company enhances its market presence and appeals to a broad consumer base. Its focus on fun, nostalgia, and high-quality ingredients resonates with both foodservice operators and individual consumers, allowing it to compete effectively in a crowded snack food market.
Market Significance
With over five decades of experience, J&J Snack Foods has become a trusted name in the snack and beverage industry. Its products are widely distributed across the United States, Mexico, and Canada, with a growing presence in global markets. The company's commitment to innovation and quality has solidified its reputation as a reliable provider of enjoyable snack experiences.
Conclusion
J&J Snack Foods Corp. is a cornerstone of the snack food and frozen beverage industry, leveraging its extensive brand portfolio and dual-channel business model to meet the diverse needs of its customers. By continuously innovating and acquiring complementary brands, the company maintains its position as a leader in delivering fun, flavorful, and high-quality snacks to consumers worldwide.
J & J Snack Foods Corp. has appointed Dan Fachner as its new Chief Executive Officer, effective May 11, 2021. Fachner, who previously served as President since May 2020, takes over from founder Gerald B. Shreiber, who will remain Chairman of the Board. This leadership transition comes as the company approaches its 50th Anniversary, reflecting on its growth from a local bakery to a billion-dollar public entity. Fachner expressed gratitude for Shreiber's influence and the company's journey, highlighting the importance of teamwork in their success.
J & J Snack Foods Corp. (NASDAQ-JJSF) has declared a quarterly cash dividend of $.633 per share, reflecting a 10% increase from the prior dividend rate of $.575. The dividend is payable on July 12, 2021, to shareholders of record by June 21, 2021. With approximately twenty manufacturing facilities and over $1 billion in annual revenue, J & J Snack Foods is known for popular brands like SUPERPRETZEL and ICEE, and is committed to expanding its niche market offerings.
J & J Snack Foods Corp. (NASDAQ-JJSF) reported Q2 earnings for March 27, 2021, revealing a 6% decline in sales to $256.2 million and a 68% drop in net earnings to $6.1 million compared to last year. Earnings per share decreased to $0.32 from $0.38. Operating income fell 34% to $7.2 million, impacted by $0.7 million of Covid-19 costs. Despite these declines, sales improved as venues reopened and consumer confidence grew. The food service sector saw a 1% decline, while retail increased by 17%.
J & J Snack Foods Corp. (NASDAQ-JJSF) will hold a conference call on April 27, 2021, at 10:00 AM ET to discuss its Q2 2021 results. The earnings report will be available on April 26, 2021, at 4:00 PM ET. The company, generating over $1 billion in annual revenue, is recognized for its leading snack brands, including SUPERPRETZEL and ICEE. With approximately twenty manufacturing facilities, JJSF focuses on expanding its unique product offerings.
J & J Snack Foods Corp. (NASDAQ-JJSF) has announced a quarterly cash dividend of $.575 per share, payable on April 13, 2021, to shareholders of record by March 22, 2021. The company, a leader in the snack food industry, generates over $1 billion in annual revenue and offers a range of popular products including SUPERPRETZEL and ICEE. With approximately twenty manufacturing facilities, J & J Snack Foods aims to expand its niche market presence while delivering quality snack options to families across the nation.
J & J Snack Foods Corp. (NASDAQ-JJSF) reported a 15% decline in sales to $241 million for Q1 ended December 26, 2020, down from $282.9 million last year. Net earnings plummeted 90% to $1.8 million from $17.1 million, with diluted EPS at $0.09, down from $0.89. Operating income fell 97% to $578,000, affected by $730,000 in COVID-19 costs. The firm has $285 million in cash and marketable securities, but anticipates continued challenges from the pandemic, particularly in foodservice, which comprises two-thirds of its sales.
J & J Snack Foods Corp. (NASDAQ-JJSF) announced the retirement of Robert M. Radano, Senior Vice President and Chief Operating Officer, effective March 31, 2021. Radano, who joined the company in 1972, will remain until the end of the fiscal year while the company searches for his successor. President Dan Fachner expressed gratitude for Radano's years of service and contributions to the company's growth. J & J Snack Foods Corp. is a prominent player in the snack food industry, known for brands like SUPERPRETZEL and ICEE.
J & J Snack Foods Corp. (NASDAQ: JJSF) announced that its conference call to discuss Q1 2021 results is scheduled for January 26 at 10:00 AM ET. The company will release its results for the quarter ended December 26, 2020 on January 25 at 4:00 PM ET. J & J Snack Foods is a leader in the snack food industry, with over $1 billion in annual revenue and a strong portfolio of brands including SUPERPRETZEL and ICEE. The company aims to expand its unique product offerings and deliver smiles to families nationwide.
J & J Snack Foods Corp. (NASDAQ-JJSF) announced a quarterly cash dividend of $0.575 per share, payable on January 12, 2021. Shareholders of record as of December 21, 2020 will receive the dividend. The company, a leader in the snack food industry with over $1 billion in annual revenue, continues to focus on expanding its unique niche market. Its principal products include SUPERPRETZEL, ICEE, and LUIGI’S Real Italian Ice, among others, with approximately twenty manufacturing facilities across the nation.
J & J Snack Foods Corp. (NASDAQ-JJSF) reported a 19% decrease in Q4 sales, totaling $252.5 million, down from $311.9 million year-over-year. For the full year, sales fell 14% to $1.022 billion. Net earnings for Q4 dropped to $6.6 million ($.35 per diluted share), down from $26.1 million ($1.36 per diluted share) a year ago, while full-year earnings decreased 81% to $18.3 million ($.96 per diluted share). Despite challenges from COVID-19, the company experienced a 2/3 recovery in its sales with $278 million in cash and marketable securities, indicating no liquidity concerns.
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