JBSS

This article first appeared on GuruFocus. Net Sales (Q4 FY2026): $280.4 million, up 4.2% from $269.1 million in Q4 FY2025. Net Sales (Full Year FY2026): Record $1.2 billion, up 6.2% year-over-year. Gross Profit (Q4 FY2026): $44.1 million, down 9.5% from the prior-year quarter. Gross Profit Margin (Q4 FY2026): 15.7% of net sales, down from 18.1% in Q4 FY2025. Gross Profit Margin (Full Year FY2026): 18% of net sales, down from 18.4% in FY2025. Net Income (Q4 FY2026): $8.4 million, or $0.71 per diluted share, down from $13.5 million, or $1.15 per diluted share, in Q4 FY2025. Net Income (Full Year FY2026): $61.9 million, or $5.26 per diluted share, up from $58.9 million, or $5.03 per diluted share, in FY2025. Sales Volume (Q4 FY2026): Increased 1.4% year-over-year, the first company-wide volume growth after five consecutive quarters of decline. Weighted Average Sales Price (Q4 FY2026): Increased 2.8% per pound. Consumer Distribution Channel Volume (Q4 FY2026): Slightly increased 0.8%, driven by a 2.4% increase in private brand sales. Commercial Ingredients Channel Volume (Q4 FY2026): Decreased 5.4%. Contract Manufacturing Channel Volume (Q4 FY2026): Increased 12.6%. Total Operating Expenses (Q4 FY2026): Increased by $3.1 million, reaching 11.3% of net sales, up from 10.6% in the prior-year quarter. Interest Expense (Q4 FY2026): $400,000, down from $1.2 million in Q4 FY2025. Inventory Value (End of Q4 FY2026): Decreased $8.8 million, or 3.4%, year-over-year. Dividends: Annual dividend increased 5.6% to $0.95 per share, plus a special dividend of $1.05 per share, bringing total 2026 calendar year dividends to $3.50 per share. Warning! GuruFocus has detected 4 Warning Signs with JBSS. Is JBSS fairly valued? Test your thesis with our free DCF calculator. Release Date: August 20, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record annual net sales of $1.2 billion and a 4.6% increase in diluted EPS for fiscal 2026. Returned to company-wide sales volume growth in Q4 after five consecutive quarters of decline. Increased annual dividend by 5.6% and declared a special dividend, marking the 15th consecutive year of returning capital to shareholders. New high-speed bar lines are on track to be fully operational by Q2 of fiscal 2027, with an estimated $300 million in potential new growth. Private label snack nut and trail mix shipments grew 3% in Q4, outperforming the category, driven by new distribution wins. Fisher snack and trail mix pound shipments increased 15% in Q4, driven by expanded assortment and e-commerce strength. Q4 gross profit decreased 9.5% due to higher input costs, transportation expenses, and manufacturing inefficiencies. Gross profit was negatively impacted by $2.7 million in recall-related costs associated with an externally sourced ingredient. The company faced unexpected customer deductions and charges in Q4, which are still under negotiation. Southern Style Nuts brand shipments fell 27% in Q4 due to a voluntary product recall. Orchard Valley Harvest brand shipments declined 26% in Q4 due to category softness and lapping club retailer rotations. The snack nut and trail mix category experienced a 7% volume decline in Q4, with continued acceleration of softness. Q: Could you expand upon the comment about litigation expense and customer charges, and what's going on there?A: Jeffrey Sanfilippo (CEO): We had some unexpected deductions from a major customer that we are still negotiating with to regain some of those deductions. It was something out of our control that occurred in Q4, but we are working actively to try to get some of that money back. Q: Any update as far as the new equipment being installed and acceptance with any new potential customers?A: Jasper Sanfilippo (COO): We're currently on track for both the high-speed fruit and grain and the chewy bar line. We're expecting the chewy bar line to be up and operational by the end of October, and then the fruit and grain bar shortly thereafter. We are actively pursuing new customer business and have created a lot of samples that have gone out to all our key customers with a very positive response. Q: Regarding the higher input costs and transportation, do you expect that you can pass this on eventually, or is this going to continue to be something you're going to have to eat going forward?A: Jeffrey Sanfilippo (CEO): We will do our best to pass those costs along. It was a couple million dollars, and we are working hard to get those price increases for freight with our customers today. Frank Pellegrino (CFO): We should expect to see that in Q2. It's mainly freight and fuel-related surcharges, and also the resin market is up with packaging, which is kind of related to fuel also. Q: On the bar lines, you were just talking about chewy granola, but I thought you guys were also doing some protein going on there. When is that going to get started up because it is one of the bigger markets there?A: Jasper Sanfilippo (COO): Through Q4, we did commercialize both some fig bar offerings as well as some protein bar offerings, and continue to do so. We are running trials currently for other protein bars. We believe that some of those bars will be in the market sometime early Q3. We do continue to add capabilities to our current protein bar line to keep up with the growing brand. Q: You're talking about this $300 million opportunity. Is this like you can achieve it in a year, two, three? What is the timeline for this to really start ramping?A: Jasper Sanfilippo (COO): I'd guess somewhere between 3 to 5 years. We're actively working with both large retailers as well as some opportunities we've come across in the co-man channel. Jeffrey Sanfilippo (CEO): We're looking at everything from club channel, obviously Sam's and Costco, to grocery, alternative channel. The fastest growing segment is that protein forward. You look at Barebells, Built Puff, David's, they're all doing extremely well in the category and retailers see that growth and are looking for private brand options. Q: Are we just finally seeing this nut price squeeze these smaller players that had stolen share, but you're now seeing them coming back your way?A: Frank Pellegrino (CFO): Indirect, yes, we're seeing them because the prices are all available more competitive out there. Q: If we're having an El Nino year, are we going to go through this cycle again where nuts are going to get all this rain, see lower pricing and then more competition? What are your expectations going for next year?A: Jasper Sanfilippo (COO): We haven't seen any effects from El Nino yet, but the crops look pretty decent out in California with maybe the exception of the early indications of the almond crop, but all the other crops look like they're in pretty good shape. Q: Regarding the bar business, you are going to be targeting the higher end and the protein and fiber content things but doing it in a private label way. Do you intend to do anything proprietary in your own branding at some point down the road?A: Jasper Sanfilippo (COO): Right now we're focused on just getting the successful brands emulated and give private label offerings in the retail market. The co-pack or the co-manufacturing opportunity for some of these brands does allow us to get into other channels where private label wouldn't work, like sports stores and gyms. At some point we will work with our customers to develop proprietary formulas for them. Jeffrey Sanfilippo (CEO): The biggest volume would be something like fruit and grain, the chewy granola bars. These high-speed lines will make us more competitive in those categories, but the bigger focus is on R&D innovation in the forward protein bars, which is where the biggest growth is coming from. Q: The new lines are going to be in Elgin. Would that be new technology that you've had to adopt from the bar business that you bought?A: Jasper Sanfilippo (COO): The 2 high-speed lines are really balancing out our manufacturing capability. There are certain SKUs that are high volume, which we will be moving to the high-volume bar lines, but there are a lot of other SKUs that we have that would not warrant running on a very high-speed bar line. Much like we did for snack nut and trail, we developed our manufacturing capabilities to run low volumes very efficiently as well as high volumes very efficiently. That's really what this investment represents, just balancing out our manufacturing capabilities to better fit our customer demands. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved record net sales of $1.2 billion despite a 2.5% decrease in total sales volume, driven by pricing actions to offset higher commodity costs. Reversed a five-quarter trend of volume decline in Q4, though profitability was pressured by manufacturing inefficiencies and unexpected customer-related charges. Attributed Q4 margin compression to a $2.7 million recall-related cost for Southern Style Nuts and higher input costs for peanuts and non-major tree nuts. Identified a shift in consumer behavior toward value-conscious shopping, prompting a strategic consumer study to optimize pack-price architecture and promotional effectiveness. Expanded the contract manufacturing channel by 12.6% in Q4, primarily through the onboarding of a significant new snack nut customer. Managed a strategic reduction in sales to a specific grocery retailer to optimize the consumer distribution channel portfolio. Estimates a $300 million long-term growth opportunity by utilizing new high-speed bar manufacturing capacity at the Elgin facility over the next 3 to 5 years. Expects new chewy bar and fruit-and-grain lines to be fully operational by Q2 of fiscal 2027, with initial product shipments targeted for Q3. Prioritizing the development of high-protein and high-fiber bar offerings to align with branded market trends and secure new private label distribution. Implementing AI-enabled process enhancements and SKU rationalization to mitigate ongoing volatility in labor, energy, and transportation costs. Anticipates passing through recent freight and packaging cost increases to customers during the next scheduled pricing review cycle. Announced a leadership transition effective October 2026, with Jeffrey T. Sanfilippo moving to Executive Chairman and Jasper Sanfilippo assuming the CEO role. Recognized a $2.7 million charge related to a voluntary recall of Southern Style Nuts due to a third-party supplier's dried milk powder, partially offset by insurance recovery. Declared a special dividend of $1.05 per share, a 75% increase from the prior year, alongside a 5.6% increase in the annual dividend. Flagged external uncertainties including potential new tariffs, unpredictable almond crop yields, and sustained inflationary pressure on resin and fuel. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that Q4 results were impacted by several million dollars in unexpected deductions from a major customer. The company is actively negotiating with the customer to regain these funds, characterizing the event as outside of their immediate control. The new high-speed lines are designed to balance manufacturing capabilities, allowing for efficient production of both high-volume SKUs and low-volume specialty items. Management expects to target the high-growth protein bar segment, aiming to provide private label alternatives to successful branded players like Barebells. Management confirmed that higher transportation and packaging costs will be addressed in upcoming pricing reviews rather than absorbed long-term. Noted that while most California crops look healthy, early indications suggest potential tightness in the almond crop.

Interested in John B. Sanfilippo & Son, Inc.? Here are five stocks we like better. Fiscal 2026 was a record year for JBSS, with net sales reaching $1.2 billion and diluted EPS rising 4.6% to $5.26, despite a challenging consumer and cost environment. Fourth-quarter profitability weakened significantly: net income fell 38% to $8.4 million, while gross margin dropped to 15.7% from 18.1%, pressured by recall costs, customer claims, freight, packaging and manufacturing inefficiencies. For fiscal 2027, management is prioritizing volume recovery and new bar capacity, with more than $300 million in potential growth estimated from the Elgin expansion; CEO Jeffrey Sanfilippo is also set to transition to executive chairman in October, with Jasper Sanfilippo succeeding him. John B. Sanfilippo & Son (NASDAQ:JBSS) reported record fiscal 2026 net sales of $1.2 billion and a 4.6% increase in diluted earnings per share, although fourth-quarter profitability declined as higher costs, recall-related expenses and customer charges pressured margins. For the fiscal fourth quarter, net sales increased 4.2% to $280.4 million from $269.1 million a year earlier. The increase reflected a 2.8% rise in weighted average selling price per pound and a 1.4% increase in sales volume. Net income fell to $8.4 million, or $0.71 per diluted share, from $13.5 million, or $1.15 per diluted share, in the prior-year quarter. → Datavault AI Locks Down CyberCatch in $94M Security Rollup For the full fiscal year, net income rose to $61.9 million, or $5.26 per diluted share, from $58.9 million, or $5.03 per diluted share, in fiscal 2025. CEO Jeffrey Sanfilippo said the company delivered earnings growth despite a difficult consumer and cost environment. Fourth-quarter gross profit decreased 9.5% to $44.1 million, while gross margin declined to 15.7% of sales from 18.1% a year earlier. CFO Frank Pellegrino said results included $2.7 million in recall-related costs connected to dried milk powder supplied by a third-party manufacturer and used in Southern Style Nuts products. → Michael Burry Is Betting Against Palantir Again—Should Investors Care? Gross profit also was affected by higher customer claims, snack-bar ingredient costs, manufacturing inefficiencies related to onboarding a large contract-manufacturing customer, and higher freight expense. Operating expenses increased by $3.1 million, driven by higher incentive compensation, freight and marketing-insights spending, partially offset by an estimated insurance recovery tied to the recall. During the question-and-answer session, Jeffrey Sanfilippo said the company received unexpected deductions from a major customer and was negotiating to recover some of those amounts. Jasper Sanfilippo, chief operating officer, said freight, fuel surcharges and resin costs for packaging added “a couple million U.S. dollars” of costs during the quarter. He said the company intends to seek price increases during its next pricing review and expects to see the impact in the fiscal second quarter. → Home Depot Analysts See a Path to $375 and Beyond Companywide volume increased in the fourth quarter after five consecutive quarters of declines, according to Jeffrey Sanfilippo. Consumer-distribution volume rose 0.8%, helped by a 2.4% increase in private-brand sales, including initial shipments to a new grocery retailer and expanded distribution at two existing retailers. Contract-manufacturing volume climbed 12.6% as snack-nut sales increased to a significant customer added during the second quarter of the prior year. Commercial-ingredients volume fell 5.4%, largely because of the timing of peanut-crushing stock sales and elevated sales in the preceding quarter. Food-service volume was relatively flat. The broader snack aisle recorded 0.7% volume growth and 3% dollar growth during the 13 weeks ended June 28, based on Circana data cited by management. However, snack nuts and trail mix declined 7% in volume and 3% in dollars, while snack-nut prices rose 5% and trail-mix prices increased 7%. JBSS said its private-label snack and trail-mix shipments outperformed the category, rising 3%, while Fisher snack and trail-mix shipments increased 15% on expanded specialty-retailer assortment and e-commerce strength. Orchard Valley Harvest shipments declined 26%, reflecting category softness and comparison with prior club-retailer rotations. Southern Style Nuts shipments fell 27% amid the voluntary recall. In recipe nuts, the overall category grew 6% in pounds and 12% in dollars, driven by private-label growth as a discount retailer added stores. Fisher recipe-nut shipments declined 12% because of slower grocery-retailer velocities. The bars category increased 2% in pounds and 5% in dollars, led by branded protein offerings, while private-label bar shipments declined 3%. The company identified restoring snack-nut and trail-mix volume, expanding its bar portfolio, and managing cost volatility as its principal priorities for fiscal 2027. Management said it is working with an external partner on consumer research focused on value propositions, pack-price architecture, promotion effectiveness and selective pricing actions. JBSS is adding high-speed bar manufacturing capacity at its Elgin facility. Jasper Sanfilippo said the chewy-bar line is expected to be operational by the end of October, with the fruit-and-grain line expected shortly afterward. The company is testing the chewy-bar kitchen and packaging process and has sent samples to key customers, management said. Jeffrey Sanfilippo said the company estimates more than $300 million of potential growth as it sells the new capacity. Jasper Sanfilippo said he expects that opportunity to ramp over roughly three to five years. The company is pursuing opportunities with large retailers, club channels, grocery and alternative channels, as well as co-manufacturing customers. Management also said it has commercialized some fig-bar and protein-bar offerings and is running additional protein-bar trials, with some products expected to reach the market early in the fiscal third quarter. The company sees demand for protein- and fiber-focused products and said it has launched Orchard Valley Harvest GoGo Protein Peanut products and plans a GoGo Protein Almond offering. During calendar 2026, JBSS increased its annual dividend 5.6% to $0.95 per share and declared a special dividend of $1.05 per share. Both are scheduled to be paid Sept. 9, bringing total calendar-year dividends to $3.50 per share. The company said 2026 marks its 15th consecutive year of returning capital through dividends and its ninth straight annual dividend increase. Jeffrey Sanfilippo also reiterated that he will step down as CEO in October and become executive chairman. Jasper Sanfilippo will succeed him as chief executive officer. John B. Sanfilippo & Son, Inc is a family‐held processor and marketer of tree nuts and snack nut products. Headquartered in Elgin, Illinois, the company operates manufacturing facilities, processing plants and sales offices across the United States and abroad. It supplies a broad range of channels, including retail, foodservice, industrial and private‐label customers. The company's product portfolio spans in‐shell and shelled pecans, walnuts, almonds, cashews, pistachios and peanuts, as well as mixed‐nut blends, chocolate‐covered treats, granolas and specialty snack items. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "John B. Sanfilippo & Son Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Fourth Quarter Net Sales Increased 4.2%; Sales Volume Increased 1.4% ELGIN, Ill., August 19, 2026--(BUSINESS WIRE)--John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the "Company") today announced financial results for its fiscal 2026 fourth quarter and full year ended June 25, 2026. Fourth Quarter Summary Net sales increased $11.4 million, or 4.2%, to $280.4 million Sales volume increased 1.2 million pounds, or 1.4%, to 87.4 million pounds Gross profit decreased 9.5% to $44.1 million Diluted EPS decreased 38.3% to $0.71 per share Full Year Summary Net sales increased $68.4 million, or 6.2%, to $1.18 billion Sales volume decreased 9.0 million pounds, or 2.5%, to 349.3 million pounds Gross profit increased 3.8% to $211.2 million Diluted EPS increased 4.6% to $5.26 per share CEO Commentary "I am pleased to report a strong fiscal 2026, with net sales reaching a record $1.2 billion and diluted EPS increasing 4.6% for the full year. Achieving record net sales and earnings growth in a challenging consumer and cost environment is a testament to the strength of our business, the dedication of our team and the depth of our customer relationships. While our bottom-line results for the most recent fourth quarter did not match last year’s results, we were encouraged to see a return to growth in our company-wide sales volume after five consecutive quarters of decline. We believe this is a positive signal for our entire portfolio. Fourth quarter profitability was impacted by several challenges, including higher-than-anticipated input and transportation costs, manufacturing inefficiencies associated with the continued onboarding of a large contract manufacturing customer and certain customer-related charges. We are actively responding to these increased costs, and we remain focused on improving operational efficiencies as we move into fiscal 2027," stated Jeffrey T. Sanfilippo, Chief Executive Officer. "We also remain committed to returning capital to our shareholders. During the 2026 calendar year, we increased our annual dividend declared by 5.6% to $0.95 per share and declared a special dividend of $1.05 per share, representing a 75% increase from the prior year. Both dividends will be paid on September 9, 2026, bringing total dividends paid during 2026 calendar year to $3.50 per share. This year marks our fifteenth consecutive year of returning capital to shareholders through dividends and the ninth consecutive year of increasing our annual dividend, reflecting the strength of our balance sheet, our consistent cash generation, and our ongoing commitment to creating long-term shareholder value," Mr. Sanfilippo concluded. Fourth Quarter Results Net Sales Net sales for the fourth quarter of fiscal 2026 increased $11.4 million, or 4.2%, to $280.4 million. This increase was driven by a 2.8% increase in the weighted average selling price per pound and a 1.4% increase in sales volume (pounds sold to customers). The increase in the weighted average selling price primarily reflected pricing actions taken in response to higher commodity acquisition costs for peanuts and all major tree nuts except walnuts, which was partially offset by a shift in product mix toward lower priced items in the current quarter. Sales Volume Consumer Distribution Channel +0.8% The sales volume increase was primarily driven by a 2.4% increase in private brand sales, reflecting higher volume in private label nuts and trail mix, partially offset by decreased bars volume due to our strategic decision to reduce sales to a grocery store retailer. The increase in private label nuts and trail mix sales volume was positively impacted by initial shipments to a new grocery retailer and expanded distribution at two existing grocery retailers, which was partially offset by lost private label business at an online retailer. In addition, our branded sales were negatively impacted by decreased Fisher recipe nut sales due to the timing of the Easter holiday and related promotional activity, as well as lower sales of Southern Style Nuts Hunter Mix, which was temporarily withdrawn from the market following a product recall of an externally sourced ingredient contained in the snack mix. Commercial Ingredients Distribution Channel -5.4% This sales volume decrease was mainly driven by timing of peanut crushing stock sales, as sales volumes were elevated in the preceding quarter. Food service sales volume remained relatively flat in the quarterly comparison. Contract Manufacturing Distribution Channel +12.6% This sales volume increase was mainly driven by increased snack nut sales to a significant new customer that was added in the second quarter of the prior year. This increase was partially offset by decreased granola sales volume. Gross Profit Gross profit decreased by $4.6 million to $44.1 million and gross margin declined to 15.7% from 18.1%. The decrease was primarily attributable to $2.7 million of recall-related costs associated with dry milk powder supplied by a third-party manufacturer used in the seasoning within certain of our products, as discussed above. Gross profit was also adversely affected by higher customer claims, higher snack bar ingredient costs, manufacturing inefficiencies, and higher freight expenses. Gross margin declined due to the factors mentioned above partially offset by a higher net sales base. Operating Expenses, net Total operating expenses increased $3.1 million in the quarterly comparison primarily due to higher incentive compensation, freight and marketing and insights expenses. These increases were partially offset by the estimated insurance recovery associated with the dry milk powder recall. As a percentage of net sales, total operating expenses increased to 11.3% from 10.6% in the prior comparable quarter, reflecting the factors noted above, partially offset by a higher net sales base. Inventory The value of total inventories on hand at the end of the current fourth quarter decreased $8.8 million, or 3.4%. The decrease was primarily attributable to lower finished goods inventories for bars, lower walnut acquisition costs, and lower on hand quantities of pecans and walnuts, which were partially offset by higher pecan and almond acquisition costs. The weighted average cost per pound of raw nut and dried fruit input stock on hand increased 12.1% year over year, driven primarily by higher pecan and almond acquisition costs, partially offset by lower walnut acquisition costs. Full Year Results Net sales increased 6.2% to $1.2 billion. The increase in net sales was primarily attributable to an 8.9% increase in weighted average selling price per pound, which was partially offset by a 2.5% decrease in sales volume. Sales volume decreased 2.5%, primarily due to lower sales volume in the consumer channel, which was partially offset by sales volume increases in the commercial ingredients and contract manufacturing channels. Gross profit margin decreased from 18.4% to 18.0% of net sales. This decrease was mainly attributable to factors noted in the quarterly comparison above and lower inventory valuation adjustments which were partially offset by aligning our pricing more closely with commodity acquisition costs and the absence of a one-time pricing concession recognized in the prior year. Operating expenses increased $3.2 million to $122.0 million. The increase in total operating expense was primarily due to higher incentive compensation expense. This increase was partially offset by the estimated insurance recovery related to the dry milk powder recall, lower compensation expense, a net gain of the disposal of non-core equipment compared to a net loss in the prior year, reduced marketing and insights spending and lower third party warehouse cost. Diluted EPS increased 4.6%, or $0.23 per diluted share, to $5.26. In closing, Mr. Sanfilippo commented, "As I announced last month, I will be stepping down as Chief Executive Officer in October to assume the role of Executive Chairman, and my brother Jasper will succeed me as CEO. Over the last several years we have made significant investments in our people, capabilities, and infrastructure that we believe will support long-term, sustainable growth. These investments, combined with a disciplined growth strategy focused on continuous improvement, innovation, customer partnership, and operational excellence, should position the company for continued success. Under Jasper's leadership, I am confident JBSS will continue to execute its strategic plan, strengthen its market position, and capitalize on future growth opportunities. "As I reflect on the past 20 years, I want to sincerely thank our current and former employees for their hard work, dedication, and commitment. Together, we have transformed JBSS into a stronger, more diversified, and more profitable organization while preserving the entrepreneurial and family-oriented culture that has always defined our company. Our ability to remain nimble, adapt to changing market conditions, and work collaboratively to serve our customers has been a key driver of our success. It has been a privilege to lead this remarkable organization as CEO, and I am deeply grateful to our employees, customers, suppliers, and shareholders for their trust, support, and partnership throughout this journey." Conference Call The Company will host an investor conference call and webcast on Thursday, August 20, 2026, at 10:00 a.m. Eastern (9:00 a.m. Central) to discuss these results. To register for the call, please click on the Participant Registration by register using this link: https://register-conf.media-server.com/register/BI44107bdd00e5457a8a0b6255bbaf1762. After registering, an email will be sent, including dial-in details and a unique access code required to join the live call. Please ensure you have registered at least 15 minutes prior to the conference call time. This call is also being webcast by Notified and can be accessed at the Company’s website at www.jbssinc.com. About John B. Sanfilippo & Son, Inc. Based in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit products and snack bars, that are sold under the Company’s Fisher ®, Orchard Valley Harvest ®, Squirrel Brand ® and Southern Style Nuts ® brand names and under a variety of private brands. Upcoming Events The Company will be presenting at the BWS Financial Growth and Value Summer Investor Series conference in New York City, New York, on August 25, 2026, and the Midwest IDEAS conference in Chicago, Illinois, on August 27, 2026. Qualified investors that would like to schedule a meeting with management should contact Three Part Advisors at the phone number below. Forward-Looking Statements Some of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as "will", "intends", "may", "believes", "anticipates", "should" and "expects" and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such as a decline in sales to one or more key customers, or to customers or in the nut and bars categories generally, in some or all channels, a change in product mix to lower price products, a decline in sales of private brand products or changing consumer preferences, including a shift from higher margin products to lower margin products; (ii) changes in the availability and costs of raw materials and ingredients due to global conflict, tariffs and other import restrictions and the impact of fixed price commitments with customers; (iii) the ability to pass on price increases to customers if commodity costs rise and the potential for a negative impact on demand for, and sales of, our products from price increases; (iv) the ability to measure and estimate bulk inventory, fluctuations in the value and quantity of the Company’s nut inventories due to fluctuations in the market prices of nuts and bulk inventory estimation adjustments, respectively; (v) the Company’s ability to appropriately respond to, or lessen the negative impact of, competitive and pricing pressures; (vi) losses associated with product recalls, product contamination, food labeling or other food safety issues, or the potential for lost sales or product liability if customers lose confidence in the safety of the Company’s products or in nuts or nut products in general, or are harmed as a result of using the Company’s products; (vii) the ability of the Company to control costs (including inflationary costs) and manage shortages or other disruptions in areas such as inputs, transportation and labor; (viii) uncertainty in economic conditions, including the potential for inflation or economic downturn leading to decreased consumer demand; (ix) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company’s control; (x) the adverse effect of labor unrest or disputes, litigation and/or legal settlements, including potential unfavorable outcomes exceeding any amounts accrued; (xi) losses due to significant disruptions at any of our production or processing facilities, our inability to meet or fulfill customer orders on a timely basis, if at all, or employee unavailability due to labor shortages; (xii) the ability to implement our Long-Range Plan, including growing our branded and private brand product sales, diversifying our product offerings (including by the launch of new products) and expanding into alternative sales channels; (xiii) technology disruptions or failures or the occurrence of cybersecurity incidents or breaches; (xiv) the inability to protect the Company’s brand value, intellectual property or avoid intellectual property disputes; and (xv) our ability to manage the impacts of changing weather patterns on raw material availability due to climate change. JOHN B. SANFILIPPO & SON, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Dollars in thousands, except per share amounts) JOHN B. SANFILIPPO & SON, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands) View source version on businesswire.com: https://www.businesswire.com/news/home/20260819284169/en/ Contacts Company: Frank S. Pellegrino Chief Financial Officer 847-214-4138 Investor Relations: John Beisler or Steven Hooser Three Part Advisors, LLC 817-310-8776

Net sales +8% to $281.8M in Q3 FY2026 driven by an 8.3% rise in average selling price while volumes were essentially flat, but profitability fell as gross margin dropped to 19.1% and net income declined to $16.8M from $20.2M a year earlier due to lower inventory valuation adjustments and softer consumer demand. Mixed channel performance: commercial ingredients and contract manufacturing volumes increased ~14–16%, while the consumer channel fell 4.5% (private‑label bars notably weak); brand-level results were uneven with Orchard Valley Harvest shipments up 33% and Fisher and Southern Style down. Capacity and strategic initiatives include near-complete bar line installation (90% done), upcoming protein/kid bar rollouts and efforts to diversify customers, but management warned of tariff-related headwinds, higher energy/material costs and supply‑chain uncertainty. Interested in John B. Sanfilippo & Son, Inc.? Here are five stocks we like better. John B. Sanfilippo & Son (NASDAQ:JBSS) reported fiscal third-quarter 2026 results highlighted by record net sales growth driven primarily by higher pricing, while profitability declined year over year amid lower inventory valuation adjustments and a softer consumer environment in key categories. Net sales increased 8% to $281.8 million in the third quarter of fiscal 2026, up from $260.9 million a year earlier, according to Chief Financial Officer Frank Pellegrino. The company attributed the increase to an 8.3% rise in the weighted average sales price per pound, while overall sales volume was “essentially flat.” → Palantir Is Down 30%: Noise? Or a Signal to Accumulate? Pellegrino said sales volume declined for “substantially all major product types,” but increased for walnuts, pecans, and mixed nuts. He added that the higher average selling price reflected pricing actions taken in response to higher commodity acquisition costs “for all major tree nuts and peanuts,” along with a product mix shift toward higher-priced items. While total company volume was stable, management pointed to improving momentum across channels. Chief Executive Officer Jeffrey Sanfilippo said sequential quarter volume improvement was an early indication that the company’s “volume growth initiatives are beginning to gain traction,” and singled out better performance in commercial ingredients and contract manufacturing. Consumer channel: Sales volume decreased 4.5%, driven primarily by a 5.3% decline in private brand sales tied to lower private label bar volume, Pellegrino said. He cited continued softness in the bar category at a mass merchandise retailer and a “strategic decision to reduce sales to a grocery store retailer” as contributors. Nuts and trail mix were pressured by “elevated retail prices, reduced promotional activity, and discontinuation of underperforming items,” partially offset by new private branded walnut distribution at an existing grocery retailer and promotional pricing on walnuts and peanuts at an online retailer. Branded sales also benefited from “limited opportunistic orders for Orchard Valley Harvest to a customer in the non-food sector.” Commercial ingredients: Sales volume increased 14.3%, mainly due to higher food service sales volume at new and existing customers, plus increased sales of peanut crushing stock, Pellegrino said. Contract manufacturing: Sales volume increased 16.5% driven by increased snack nut sales to “a significant customer” being onboarded since the second quarter of the prior year, partially offset by decreased granola sales volume, according to Pellegrino. → Corning Beats Q1 Estimates but Drops 9% on Guidance Miss In the Q&A session, an analyst asked whether shifting volume between the retail segment and contract manufacturing mattered. Pellegrino responded, “It does not,” noting that “every customer has a different channel classification.” Gross profit decreased $2.1 million, or 3.8%, to $53.8 million. Gross margin fell to 19.1% of net sales from 21.4% in the prior-year quarter. Pellegrino said the decline was driven by “significantly lower inventory valuation adjustments compared to the prior year,” partially offset by higher net sales. → Did Qualcomm Just Put Apple in Check? Total operating expenses increased $2.3 million year over year, driven by higher incentive compensation. That was partially offset by lower compensation costs, lower rent expense, and a gain on the sale of non-core equipment. Operating expenses as a percentage of net sales remained unchanged at 10.6%. Interest expense declined to $500,000 from $1.1 million, which Pellegrino attributed to lower average line of credit levels. Net income fell to $16.8 million, or $1.43 per diluted share, compared with $20.2 million, or $1.72 per diluted share, in the year-ago period. Jeffrey Sanfilippo provided category commentary using Circana data for the 12 weeks ending March 22, 2026. He said the “broader snack aisle” showed modest growth, with volume up 0.5% and dollars up 5%, consistent with the prior quarter. However, he said the snack nut and trail mix category declined 6% in volume while dollars rose 1%, describing it as “an acceleration of the volume softness we saw last quarter.” He said snack nut prices rose 8% with increases across nearly all nut types, and trail mix prices rose 6%. Orchard Valley Harvest: Up 33% in pound shipments, which Jeffrey Sanfilippo attributed to “the launch of an innovative platform paired with additional shipments to a specialty retailer.” Southern Style Nuts: Down 6% in pound shipments, driven by softness “primarily in our e-commerce channel.” Fisher Snack Nut and Trail Mix: Down 8% in pound shipments, which he said reflected less promotional activity along with broader category headwinds. Private label consumer snack and trail: Down 4% in pound shipments, in line with the category. In recipe nuts, Jeffrey Sanfilippo said the category was up 5% in pounds and up 17% in dollars, driven by private label growth and discount retailers expanding store counts. Recipe nut prices increased 11%, driven by higher walnut and pecan prices. Fisher Recipe pound shipments declined 8% due to slower velocities among grocery retailers, he said. In bars, he said the category grew 2% in pounds and 6% in dollars, driven by branded growth in the protein segment. Private label bars were flat in pounds and down 1% in dollars. The company’s private label bar shipments declined 17% year over year due to softness at a major mass merchandiser. Management emphasized ongoing investments intended to support longer-term growth, including expanded bar manufacturing capabilities. Jeffrey Sanfilippo said the company’s board recently met at its Elgin, Illinois headquarters and reviewed investments in bar manufacturing, including touring “the new equipment installation in the plant.” He described the effort as “transforming our business” and said the company plans to host an investor day “sometime in October” to showcase the changes. On capacity, Chief Operating Officer Jasper Sanfilippo said installation of a bar line was “90% done with the processing and the packaging side,” with remaining work focused on building kitchens and auxiliary support such as dust collection and bulk storage. He said that for “nine months out of the year,” the company does not need additional capacity for mainstream bars, though it expects “a pretty large spike for back to school.” He also said the company is working to expand distribution for protein bars, noting that kid protein bars are expected to enter the market “within the next four to six weeks at a major retailer,” and added that protein bars are “margin accretive” relative to mainstream bars. Jeffrey Sanfilippo also pointed to efforts to diversify the customer base, saying the company has “important customer concentration” it is looking to reduce. He said teams are pursuing new customers in the consumer channel as well as in contract manufacturing and commercial ingredients, and are also looking to expand within existing retailers into additional departments, citing pharmaceuticals as one area where the company does “very little business” today. Management also cited external uncertainties. Jeffrey Sanfilippo discussed ongoing tariff-related headwinds, including the launch of a new U.S. Customs electronic system, CAPE, to handle tariff refund claims, while noting uncertainty over how quickly the backlog will be processed. He said the company is engaging with 20 suppliers representing about 90% of total tariff surcharges. He also cited global events contributing to elevated fuel prices and higher costs for related materials, adding that the procurement team is monitoring volatility and assessing alternative suppliers where possible. Looking ahead, Jeffrey Sanfilippo said the company is monitoring consumer sentiment, which he said is showing “early signs of stabilizing,” while acknowledging uncertainty tied to rising global tensions and their impact on energy prices and supply chain dynamics. John B. Sanfilippo & Son, Inc is a family‐held processor and marketer of tree nuts and snack nut products. Headquartered in Elgin, Illinois, the company operates manufacturing facilities, processing plants and sales offices across the United States and abroad. It supplies a broad range of channels, including retail, foodservice, industrial and private‐label customers. The company's product portfolio spans in‐shell and shelled pecans, walnuts, almonds, cashews, pistachios and peanuts, as well as mixed‐nut blends, chocolate‐covered treats, granolas and specialty snack items. The article "John B. Sanfilippo & Son Q3 Earnings Call Highlights" was originally published by MarketBeat.

Third Quarter Net Sales Increased 8.0% to a Record $281.8 Million ELGIN, Ill., April 29, 2026--(BUSINESS WIRE)--John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the "Company") today announced financial results for its fiscal 2026 third quarter ended March 26, 2026. Third Quarter Summary Net sales increased $20.9 million, or 8.0%, to $281.8 million Sales volume remained essentially flat, declining slightly to 84.4 million pounds Gross profit decreased 3.8% to $53.8 million Diluted EPS decreased 16.9% to $1.43 per share CEO Commentary "We delivered another strong quarter with solid top line growth, supported by our continued focus on driving volume across all three sales channels. Total volume held steady with the prior year’s comparable quarter, and the sequential quarter improvement is an early indication that our volume growth initiatives are beginning to gain traction. In particular, we are encouraged by the improved performance in our commercial ingredients and contract manufacturing channels in the quarter. Our diversified multi-channel sales model, serving at-home consumer demand, away from home food service customers, and strategic contract manufacturing partnerships, continues to be a key competitive advantage, positioning us to capture growth opportunities wherever they emerge in the marketplace. This strategic channel mix enables us to navigate shifting consumption patterns and perform across varied end markets. Our teams are actively identifying additional opportunities to drive future volume growth, leveraging our new and existing manufacturing capabilities and supporting the onboarding of a new strategic customer in the contract manufacturing channel. We are encouraged by the progress we are making and remain confident in the opportunities ahead," stated Jeffrey T. Sanfilippo, Chief Executive Officer. Third Quarter Results Net Sales Net sales for the third quarter of fiscal 2026 increased $20.9 million, or 8.0%, to $281.8 million. This increase was driven by an 8.3% increase in the weighted average selling price per pound. Sales volume (pounds sold to customers) remained essentially flat; in particular, sales volume declined for substantially all major product types in the third quarter but increased for walnuts, pecans and mixed nuts. The increase in the weighted average selling price primarily reflected pricing actions taken in response to higher commodity acquisition costs for all major tree nuts and peanuts as well as a shift in product mix toward higher priced items in the current quarter. Sales Volume Consumer Distribution Channel -4.5% The sales volume decrease was primarily driven by a 5.3% decline in private brand sales, reflecting lower volume in private label bars while nuts and trail mix sales volume remained relatively flat. Bar sales were impacted by continued category softness at a mass merchandise retailer, consistent with the trends seen in our most recent second quarter. Our strategic decision to reduce sales to a grocery store retailer also contributed to the overall decline in bar volume. Sales of nuts and trail mix were negatively impacted by elevated retail prices, reduced promotional activity and discontinuation of underperforming items. These impacts were largely offset by new private branded walnut distribution at an existing grocery retailer and increased sales resulting from promotional pricing on walnuts and peanuts at an online retailer. In addition, branded sales benefited from limited opportunistic orders for Orchard Valley Harvest to a customer in the non-food sector. Commercial Ingredients Distribution Channel +14.3% This sales volume increase was mainly driven by higher food service sales volume at existing customers and sales to two new customers. In addition, increased sales of peanut crushing stock contributed to the overall growth in the quarterly comparison. Contract Manufacturing Distribution Channel +16.5% This sales volume increase was driven by increased snack nut sales to a significant new customer as we continue onboarding this customer that we added in the second quarter of the prior year. This increase was partially offset by decreased granola sales volume. Gross Profit Gross profit decreased by $2.1 million to $53.8 million and gross margin declined to 19.1% from 21.4%. This decrease was primarily due to significantly lower inventory valuation adjustments compared to the prior year quarter, partially offset by higher net sales. Operating Expenses, net Total operating expenses increased $2.3 million in the quarterly comparison primarily due to higher incentive compensation expenses. This increase was partially offset by lower compensation costs, lower rent expenses and a gain on the sale of non-core equipment. Total operating expenses as a percentage of net sales remained unchanged at 10.6% Inventory The value of total inventories on hand at the end of the current third quarter decreased $5.2 million, or 2.0%. The decrease was primarily due to lower commodity acquisition costs for walnuts and peanuts, as well as lower on-hand quantities of pecans, walnuts and almonds. These reductions were partially offset by the impact of higher pecan acquisition costs and increased on-hand quantities of peanuts. The weighted average cost per pound of raw nut and dried fruit input stock on hand increased 10.5% year over year mainly due to the reasons noted above. Nine Month Results Net sales increased 6.8% to $895.2 million. The increase in net sales was primarily attributable to a 11.0% increase in weighted average selling price per pound, which was partially offset by a 3.7% decrease in sales volume. Sales volume decreased 3.7%, primarily due to lower sales volume in the consumer channel, which was partially offset by sales volume increase in the commercial ingredients channel. Gross profit margin increased from 18.5% to 18.7% of net sales. This increase was mainly attributable to aligning our pricing more closely with commodity acquisition costs, the absence of a one-time pricing concession recognized in the prior period and the factors noted above. Operating expenses remained essentially flat at $90.3 million. Diluted EPS increased 17.6%, or $0.68 per diluted share, to $4.55. In closing, Mr. Sanfilippo commented, "We remain attentive to category trends and continue to monitor consumer sentiment, which is showing early signs of stabilizing. At the same time, we recognize that rising global tensions in certain key regions and the resulting impact on energy prices and supply chain dynamics are contributing to ongoing uncertainty. As a result, we are maintaining a nimble mindset as we move forward. I want to thank all of our employees for their continued dedication as we stay focused on executing our strategy and driving sustainable long‑term value for our shareholders." Conference Call The Company will host an investor conference call and webcast on Thursday, April 30, 2026, at 10:00 a.m. Eastern (9:00 a.m. Central) to discuss these results. To register for the call, please click on the Participant Registration by register using this link: https://register-conf.media-server.com/register/BIfa80603ce45d4f61b4c7eb9610d20e9b. After registering, an email will be sent, including dial-in details and a unique access code required to join the live call. Please ensure you have registered at least 15 minutes prior to the conference call time. This call is also being webcast by Notified and can be accessed at the Company’s website at www.jbssinc.com. About John B. Sanfilippo & Son, Inc. Based in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit products and snack bars, that are sold under the Company’s Fisher®, Orchard Valley Harvest®, Squirrel Brand® and Southern Style Nuts® brand names and under a variety of private brands. Forward Looking Statements Some of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as "will," "intends," "may," "believes," "anticipates," "should" and "expects" and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such as a decline in sales to one or more key customers, or to customers or in the nut and bars categories generally, in some or all channels, a change in product mix to lower price products, a decline in sales of private brand products or changing consumer preferences, including a shift from higher margin products to lower margin products; (ii) changes in the availability and costs of raw materials and ingredients due to global conflict, tariffs and other import restrictions and the impact of fixed price commitments with customers; (iii) the ability to pass on price increases to customers if commodity costs rise and the potential for a negative impact on demand for, and sales of, our products from price increases; (iv) the ability to measure and estimate bulk inventory, fluctuations in the value and quantity of the Company’s nut inventories due to fluctuations in the market prices of nuts and bulk inventory estimation adjustments, respectively; (v) the Company’s ability to appropriately respond to, or lessen the negative impact of, competitive and pricing pressures; (vi) losses associated with product recalls, product contamination, food labeling or other food safety issues, or the potential for lost sales or product liability if customers lose confidence in the safety of the Company’s products or in nuts or nut products in general, or are harmed as a result of using the Company’s products; (vii) the ability of the Company to control costs (including inflationary costs) and manage shortages or other disruptions in areas such as inputs, transportation and labor; (viii) uncertainty in economic conditions, including the potential for inflation or economic downturn leading to decreased consumer demand; (ix) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company’s control, including the impact of tariff refunds with respect to us and our customers; (x) the adverse effect of labor unrest or disputes, litigation and/or legal settlements, including potential unfavorable outcomes exceeding any amounts accrued; (xi) losses due to significant disruptions at any of our production or processing facilities, our inability to meet or fulfill customer orders on a timely basis, if at all, or employee unavailability due to labor shortages; (xii) the ability to implement our Long-Range Plan, including growing our branded and private brand product sales, diversifying our product offerings (including by the launch of new products) and expanding into alternative sales channels; (xiii) technology disruptions or failures or the occurrence of cybersecurity incidents or breaches; (xiv) the inability to protect the Company’s brand value, intellectual property or avoid intellectual property disputes; and (xv) our ability to manage the impacts of changing weather patterns on raw material availability due to climate change. View source version on businesswire.com: https://www.businesswire.com/news/home/20260429646478/en/ Contacts Company: Frank S. Pellegrino Chief Financial Officer 847-214-4138 Investor Relations: John Beisler or Steven Hooser Three Part Advisors, LLC 817-310-8776