J&J Snack Foods down after missing analyst Q4 estimates
J&J Snack Foods Corp. (Nasdaq: JJSF) shares are down after the snack maker recorded fourth-quarter earnings of $10.5 million, or $0.55 per share, missing analyst estimates of $0.59 per share and down 9% from $11.5 million, or $0.61 per share, a year earlier.
The Pennsauken, N.J.-based company’s quarterly revenue totaled $162.2 million, below Wall Street projections of $171.4 million and compared with $154.1 million a year earlier.
“Although our ICEE and Frozen Beverages group did contribute to both increased sales and earnings in the quarter, our other business’ segments were impacted by sharply increasing raw material and packaging costs,” CEO Gerald B. Shreiber said in a statement.
In morning trading, JJSF shares are down 9.36%, or $3.24, at $31.38. Over the last 52 weeks, shares have ranged from $31.33 to $43.51.
