M&A - J&J SNACK FOODS CORP

Form Type: 10-Q

Filing Date: 2025-02-06

Corporate Action: Acquisition

Type: Update

Accession Number: 000143774925003041

Filing Summary: For the quarterly period ending December 28, 2024, J&J Snack Foods Corp. has reported its financial results, revealing net earnings of $5.143 million, down from $7.282 million a year ago, which amounts to $0.26 earnings per diluted share. The report includes consolidated financial statements highlighting total assets of $1.346 billion and stockholders' equity of $946.84 million. The company completed the acquisition of the Thinsters cookie business from Hain Celestial Group on April 8, 2024, for approximately $7.0 million, enhancing its product portfolio. The results are impacted by fluctuations in sales attributed to seasonal demand for frozen beverages and novelties. Additionally, it outlines financial liquidity with cash and cash equivalents totaling $73.562 million at the end of the reporting period. The report also includes information on recent operational adjustments and the recognition of revenues in compliance with ASC 606 guidelines.