JBSS Q2 EPS down 29% to $1.16 despite record sales volume of 96.3M lbs

SANFILIPPO JOHN B & SON INC

2024-Q2 EPS reported $2.16 revenue$577,263,000

Net sales rose 3.4% to $301.1M; sales volume increased 7.1% to 96.3M lbs, a quarterly record.
Gross profit fell 9.8% to $52.3M; margin contracted to 17.4% from 19.9% due to pricing pressure and higher nut costs.
Diluted EPS dropped 29.3% to $1.16; six-month EPS fell 31.4% to $2.16.
Bars volume surged ~28% YoY; all three distribution channels posted volume growth.
Company plans to consolidate Elgin and Lakeville distribution into new Huntley, IL facility.

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