J&J Snack Foods Q3 sales up 17.2% to record $380.2M; operating income down 44% on inflation, acquisition costs

J&J SNACK FOODS CORP

2022-Q3 EPS reported $1.56 revenue$980,230,000

Net sales record $380.2M (+17.2% YoY); GAAP EPS $0.81 (-46.4%); adjusted EPS $0.93.
Operating income $21.3M (-44.3%); includes $3.1M Dippin' Dots acquisition costs; adjusted operating income $24.3M.
Gross margin 28.7% vs 29.7% YoY; impacted by raw material, freight, fuel inflation; two price increases implemented.
Food Service +16.0%, Retail +13.3%, Frozen Beverages +23.5%; Frozen Beverage operating income up to $16.3M.
Third price increase in process; Dippin' Dots acquisition expected to be accretive to EPS.

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