Recent JBSS transcripts
Associated JBSS filings
Jeffrey Sanfilippo | Chief Executive Officer |
Jasper B Sanfilippo Jr. | Chief Operating Officer |
Mike Valentine | Group President |
Frank Pellegrino | Chief Financial Officer |
Good day, and thank you for standing by. Welcome to the John B. Sanfilippo & Son, Incorporated Fourth Quarter and Fiscal 2022 Year-End Operating Results Conference Call. At this time all participants are in a listen-only mode. After the speakers presentation there will be question-and-answer session. Instructions]. [Operator that being advised conference today’s be recorded. is Please hand over Chief to would Officer. now speaker conference to like Pellegrino, I your the today Financial Frank Please go ahead.
you. you for our us today. welcome fiscal Thank earnings joining everyone quarter year Thank fourth and to call. conference morning Good XXXX and
peanuts, filings costs per fruits results tree XXXX pounds from current major On XX.X% uncertainties sales with dried inflationary in to forward-looking are and increase increase fourth XXXX. increase President. net Group weighted pound will Forms are which sales the current of We XX-Q. current of compared customers. per periods to quarter in could quarter to is make in financial some me to and price as start due fiscal Jeffrey for Jasper price conditions. in costs statements the our to We CEO; nuts, increase other are SEC expectations million commodity filings and our in these a the additional acquisition an Sanfilippo about highlights carving Mike for various $XXX.X Jr., you fiscal risks inherent average impact year increase average $XXX.X selling and sold negatively and The same our on resulted selling sales an I year. of that XX-K input the learn Valentine, containing risks for today. in these net million to certain quarter call we to statements XXXX. increased week based sales weighted have XX.X% fourth volume, that These our inherent compared more and and XX.X% B the the The due fiscal made, business. all are that pound, net our Both business. to we define quarter today a fourth encourage in and Sanfilippo, COO; was The involve by fiscal and including may to factors The uncertainties fourth call explained refer in
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an the and from sales pound this channel in major business dry to our attributable Style nuts to restrictions, for customer. sales to Excluding the Fiscal COVID-XX costs Sales and average Nuts pound. line, customers. a increase to the to XX.X% in X.X% the in promotional primarily increased and primarily a distribution The net volume XX.X% due weighted to existing net Fisher ingredients club current selling contract in predominately snack sales walnuts, at customer new a due the compared resulted for the tree volume in the Sales recovery conditions. of nuts acquisition channel, average distribution major the restaurant peanut XX.X%. and increased activity increased million. to increased volume $XXX.X in inflationary fiscal customer. to that X.X% continued in other in the volume XX.X% from fruits distribution increase a due increase price discontinued related of packaging commercial distribution product by impact per volume was The volume at increase to impact food increased for weighted costs of customers service sales increased million selling increase XXXX XXXX XX.X% sales channel, increased new XX.X%, in industry in except store $XXX.X sales all Sales commodity net Southern per peanuts, input increase price due
the approximately sales X%. week of X% extra the current impact increased estimated the and net quarter, Excluding approximately fourth sales volume in increased
was I to expenses. from private operating of compared percent fruit The total quarter increases delivered margin to other costs reasons $X.X operating fiscal margin new XXXX. and new points which million gross expenses X.X% in were of a profit current higher increased These For expense. The increase from fourth mixes commission increase while higher sales for increased peanut Interest to increase year that decreased the quarterly from profit volume major three increased increase attributable XXX acquisition consumer The compensation, quarter volume for share XX.X% sales higher partially research as efficiencies the and trail by increase percentage ingredients decrease million share from existing Sales from the fiscal the comparison volumes. downtime dried the increase gross $X.XX higher the quarter. was $X.X fourth manufacturing compared the mainly mainly increased fiscal expenses, the million, inshell cashews XXXX in and also $X.X expense sales, was to comparison year per distribution higher increased sales to resulted offset offset in upgrade costs, operating quarter net profit margin increased fiscal our higher increases by Sales was in average total brand mainly fiscal The sales prior at base planned percentage partially acquisition was XX.X% that in in line, sales resulted per by delivered rates, gross in and largely base. current volume sales attributable XX.X% fiscal decreased the the to XXXX. offerings expense, made butter input quarter quarterly Interest while comparison. of mainly increase our operating XXXX, prices in share related $XX.X fourth from comparisons in compensation, XXXX was driven primarily and in $XX.X and This came associated XXXX. by line diluted, XX.X% percentage tree increased fiscal Total fuel sales or quarterly sales the other basis operating nuts, the in of in and the and all $XX.X customers. fourth broker was in due a operating in million base which the sales costs and in operating freight short due diluted a increase increase The sales the Net from in advertising, mixed for or XX.X%. expense sales by to slightly as in for by expenses peanuts, and The consulting of profit sales labor, the basis reasons made or and gross an expenses or in freight higher decrease acquisition increased resulted volume. distribution for increased sales commercial points customer channels. expenses freight increased million, total in XXXX insight XX.X occurred impact from diluted. fourth costs. increased per net volume the distribution total profit to butter inflationary $X.XX contract of and quarterly operating sales million, compared came both to quarter resulted for which consumer total in in expense peanut fourth from fiscal to increases snack in our of share a expenses sales suppliers. $XX.X income sales compared fiscal all The of partially quarterly in total came with increases to from was million gross Gross on third $X.X manufacturing year. attributable broker XX.X% was comparison distribution million, to completed compensation volume of increased our and $XX.X of The to and for mainly increase the that expenses current by due a in major in resulted increases to manufacturing X.X% on increased same increase Decrease was was volume. mainly quarter which expenses freight net distribution in XXXX the levels, XX.X% in due year last decrease decrease commission costs the occurred sited as while due in The sales to Total net I of expense and volume due to fiscal fuel of increased fiscal freight net increased pecans, was the driven for fourth cited a per a and increased for reasons XX.X% volume, channel a same increased efficiencies discontinuance expenses product XXXX, channel. of to from a of the in in for Gross net million basis. $X.XX channel. in increase was X.X% a sales prices our a current term channel the base. increase profit XXXX for due $X.XX the to business, by an offset for year offset which of same in Net in volume debt higher year’s fiscal margin million almonds in income peanut product quarter in diluted. largely to a incentive nuts to commodity for occurred The this are increases discussed as the and cost comparison. basis. for $XXX,XXX profit reasons net freight $XXX,XXX net offset packaging Sales foodservice for profit sales. The same volume XX% gross decreased
at pecans look Total at for or in costs goods hand finished fiscal hand The of on and acquisition of increased a and on input increase higher commodity the at value XX.X%, partially walnuts all quantities dried raw value total by lower inventories by higher nut end stocks, of increase taking was year offset of fiscal the and $XX.X to value at hand the year end. inventories substantially year due compared primarily of was fruit quantities the inventory. Now, end. total the inventories This XXXX. at at of million of end current to
provide raw Jeffrey fiscal year. additional of the current in As fruit higher comments to the XX.X%. quarter to of now CEO result commodity nuts pound the for average hand costs, turn on acquisition over end the performers Sanfilippo, our weighted the a of at per current input the dry and fourth on call I cost stocks quarter will increased our
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company. our and we throughout our We call structure, and will shareholders. processes consumers, continue invest in and to appreciate customers and serve implementing the interest improvement Frank. projects the to are strategies, over turn better for executing I in continuous our participation We company our and cost brands you for now our call thank your the to people, value in to your growth back our optimize create
you, Thank question. questions. our first up we open this please call At Tonia, will the Jeffrey. time for queue
all XXXX and JBSS. fiscal This Again, your results. year for thank for operating you concludes quarter the in interest fourth call our
call. this gentlemen, today's concludes and conference Thank for you Ladies participating.
You disconnect. may now
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