J&J Snack Foods Corp. (Nasdaq: JJSF) said sales decreased 6% to $256.2 million for its second quarter, ended March 27, from $272 million in last year’s second quarter.
Net earnings were $6.1 million in the current quarter, down from $7.3 million last year. Earnings per diluted share were $0.32 for the second quarter, down from $0.38 a year ago.
The Pennsauken, NJ-based company noted that sales consistently improved throughout the quarter led by venue openings, accessibility to COVID-19 vaccines, improving consumer confidence and the spring season. This year's second-quarter sales decline was only 6% versus the prior year compared with a decline of 15% in company’s first quarter.
Yahoo! Finance reported that J&J Snack Foods quarterly EPS of $0.32 beat the Zacks Consensus Estimate of $0.13 per share. This compares with earnings of $0.38 per share a year ago. This quarterly report represents an earnings surprise of 146.15%.
J&J president Dan Fachner commented, “I am starting to see some momentum in our business as key venues like theaters, amusement parks, sports arenas and schools start to open and increase capacity.”
See J&J’s full news announcement at Globe Newswire.
