J&J Snack Foods (JJSF) reported an increase in earnings for its third quarter compared to the previous year, although the results did not meet Wall Street expectations.
The company posted a net income of $36.29 million, or $1.87 per share, up from $34.98 million, or $1.81 per share, in the same quarter last year.
On an adjusted basis, which excludes certain items, J&J Snack Foods recorded earnings of $1.98 per share for the quarter.
Analysts, as compiled by Thomson Reuters, had projected earnings of $1.99 per share. It is important to note that analysts' estimates generally do not include special items.
J&J Snack Foods experienced a 3.3% increase in revenue for the quarter, reaching $439.957 million compared to $425.769 million in the previous year.
Summary of J&J Snack Foods' Q3 (GAAP):
- Earnings: $36.29 million vs. $34.98 million last year
- EPS: $1.87 vs. $1.81 last year
- Revenue: $439.957 million vs. $425.769 million last year
