J & J Snack Foods reports Q3 adjusted EPS $1.98, consensus $1.99

Reports Q2 revenue $440M, consensus $444.05M. Dan Fachner, J&J Snack Foods Chairman, President, and CEO, commented, “J&J Snack Foods delivered excellent third quarter financial results, including the second-highest quarterly net sales performance in our company’s history and record quarterly earnings per diluted share. Top-line growth was driven by higher volumes across most of our core products and brands, as well as strong new business performance in our Food Service and Retail segments, partially offset by temporary challenges in the theater channel. Our continued success in improving operating efficiencies led to a healthy 33.6% gross margin, flat versus the prior year, despite a less favorable sales mix. This resulted in adjusted operating income growth of 3.9% and adjusted EBITDA growth of 6.3%, building on our solid momentum from the first two quarters of our fiscal year.”