Benzinga | Aug 19, 2021 06:25AM EDT

John B. Sanfilippo & Son Posts Mixed Q4 Results

* John B. Sanfilippo & Son Inc (NASDAQ:JBSS) reported fourth-quarter FY21 sales growth of 1.2% year-on-year, to $206.74 million, beating the analyst consensus of $198.20 million.

* Sales volume increased 9.6% in the quarter. Sales volume in the consumer distribution channel grew 2.5%, driven mainly by increased sales of private brand trail and snack mixes from new distribution at existing customers.

* Gross profit increased 14.9% Y/Y to $46.8 million, with a profit margin expanding 260 basis points to 22.6%.

* The operating margin was 8.4%, and operating income for the quarter rose 11.5% to $17.4 million.

* The company held $0.67 million in cash and equivalents as of June 24, 2021.

* EPS of $1.07 missed the analyst consensus of $1.15.

* "The record results were driven primarily by rebounds in our foodservice business and contract packaging distribution channel as many indoor dining restrictions were lifted throughout the country, and foot traffic increased in convenience stores, respectively," said CEO Jeffrey T. Sanfilippo.

* Price Action: JBSS shares closed lower by 0.15% at $87.92 on Wednesday.