J&J Snack Foods Corp
F:JJ1
J&J Snack Foods Corp
J&J Snack Foods Corp. engages in the manufacturing of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. The company is headquartered in Mount Laurel, New Jersey and currently employs 4,600 full-time employees. The Company’s segments include Food Service, Retail Supermarkets, and Frozen Beverages. Its Food Service segment offers soft pretzels, frozen novelties, churros, handheld products, and baked goods. Its customers include snack bars and food stands in chains, department, schools, colleges, and others. The primary products sold on the retail supermarket channel are soft pretzel products including SUPERPRETZEL, frozen novelties including LUIGI’S Real Italian Ice, MINUTE MAID Juice Bars & Soft Frozen Lemonade, WHOLE FRUIT frozen fruit bars and sorbet, DOGSTERS ice cream style treats for dogs, PHILLY SWIRL cups and sticks, ICEE Squeeze-Up Tubes and handheld products. The firm sells frozen beverages to the foodservice industry primarily under the names ICEE, SLUSH PUPPIE and PARROT ICE in the United States, Mexico, and Canada.
J&J Snack Foods Corp. engages in the manufacturing of nutritional snack foods and distribution of frozen beverages to the food service and retail supermarket industries. The company is headquartered in Mount Laurel, New Jersey and currently employs 4,600 full-time employees. The Company’s segments include Food Service, Retail Supermarkets, and Frozen Beverages. Its Food Service segment offers soft pretzels, frozen novelties, churros, handheld products, and baked goods. Its customers include snack bars and food stands in chains, department, schools, colleges, and others. The primary products sold on the retail supermarket channel are soft pretzel products including SUPERPRETZEL, frozen novelties including LUIGI’S Real Italian Ice, MINUTE MAID Juice Bars & Soft Frozen Lemonade, WHOLE FRUIT frozen fruit bars and sorbet, DOGSTERS ice cream style treats for dogs, PHILLY SWIRL cups and sticks, ICEE Squeeze-Up Tubes and handheld products. The firm sells frozen beverages to the foodservice industry primarily under the names ICEE, SLUSH PUPPIE and PARROT ICE in the United States, Mexico, and Canada.
Sales Decline: Net sales fell 5.2% year-over-year to $343.8 million, primarily due to intentional reductions in lower-margin bakery products from portfolio optimization.
Margins Up: Gross margin improved by 200 basis points to 27.9%, driven by plant consolidation, improved product mix, and Project Apollo savings.
Cost Savings: Project Apollo delivered $3 million in savings in Q1, with expected run-rate savings of $20 million annually once fully implemented in the second quarter.
Pretzel & Innovation Growth: Food service pretzel sales rose 6.9%, and retail innovation, especially in Dogsters and Dippin’ Dots, contributed to segment growth.
Share Repurchase: The company completed a $42 million share buyback in the quarter and announced a new $50 million repurchase authorization.
Guidance: Management expects low single-digit underlying sales growth for the full year, net of a 3% headwind from SKU rationalization.
