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Stock impact report

Why J&J Snack Foods Stock Surged Today [Yahoo! Finance]

J & J Snack Foods Corp. (JJSF) 
Last j & j snack foods corp. earnings: 4/27 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: jsoftware.com
Company Research Source: Yahoo! Finance
The stock finished today's session up 16.4%. J&J Snack Foods shines J&J reported revenue growth of 6.5% to $359.7 million, beating estimates at $341.1 million. The company said top-line growth was driven by higher volumes in core products and brands, as well as strong performance with new business in the food service and retail channels. Foodservice sales were up 5.4%, while retail sales jumped 14.1%. It's beginning to realize the benefit of increasing production capacity in churros and pretzels, which helped margins surge in the quarter. Gross margin rose 330 basis points to 30.1%, and adjusted operating income jumped 81% to $21.8 million. On the bottom line, adjusted earnings per share rose 95% to $0.84, which was well ahead of the analyst consensus at $0.61. J&J also opened its third regional distribution channel in the quarter, in Arizona, which will enhance its supply chain capabilities. CEO Dan Fachner said, "In summary, our second-quarter performance, together wi Show less Read more
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