JBSS Q2 earnings: net income down 33.4% to $13.2M despite 8.4% sales growth

SANFILIPPO JOHN B & SON INC

2022-Q2 EPS reported $2.81 revenue$479,536,000

Net income $13.2M ($1.14 diluted EPS) vs $19.9M ($1.72) year ago - down 33.4%.
Net sales $253.2M, up 8.4% on 6.0% volume growth and 2.3% price/mix gains.
Gross profit margin fell to 20.6% from 22.6% on supply chain inefficiencies and inflation.
Operating expenses rose $9.0M to 13.4% of sales, including $3M in advertising and $1.9M freight.
CEO says pricing actions to offset inflation expected by early Q3; additional may be needed.

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