We expect earnings to improve in the second half, driven by projected theater industry rebound, as well as actions we're taking to capture additional price increases and to grow volume.
— Dan Fachner
03Detailed Report
JJSF
Company JJSF
Period
Q2 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 17, 2026
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Executive Summary
JJ Snack Foods Corp reported a mixed Q2 2025, with revenue of $356.1 million, down 1% year over year, and gross margin compression to 26.9% from 30.1% the year prior. Net income declined to $4.8 million and diluted EPS to $0.25, reflecting higher chocolate costs, FX headwinds against the peso, and a year-ago LTO churro impact in Foodservice. Despite near-term margin pressures, management highlighted a favorable setup for the second half: a projected rebound in theater attendance boosting Frozen Beverage volumes, selective price realization across portfolios, and accelerating innovations in core brands (e.g., Bavarian pretzels, Dippin' Dots, and SUPERPRETZEL enhancements). The company also provided visibility on near-term revenue drivers (Dippin' Dots expansion, new retail Sundaes reaching $1 million in sales, and Urban Air as a new customer). Management reaffirmed guidance that gross margins should recover to the low-30s in the back half, supported by higher-margin Frozen Beverage/retail mix and improving pricing. The Q2 results underscore robust cash generation potential but elevated working capital needs and modest free cash flow, with a hedged but unequal impact from tariffs and input-cost inflation.
Key Performance Indicators
Revenue
Decreasing
356.10M
QoQ: -1.79% | YoY: -1.01%
Gross Profit
Decreasing
95.70M
26.88% margin
QoQ: 1.92% | YoY: -10.26%
Operating Income
Decreasing
6.02M
QoQ: -3.46% | YoY: -66.36%
Net Income
Decreasing
4.82M
QoQ: -6.20% | YoY: -63.81%
EPS
Decreasing
0.25
QoQ: -3.85% | YoY: -63.77%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $356.1 million (Q2 2025), YoY -1.01%, QoQ -1.79%; Gross Profit: $95.7 million, YoY -10.26%, QoQ +1.92%; Operating Income: $6.02 million, YoY -66.36%, QoQ -3.46%; Net Income: $4.82 million, YoY -63.81%, QoQ -6.20%; EPS: $0.25, YoY -63.77%, QoQ -3.85%; Adjusted EBITDA: $26.2 million; Gross Margin: 26.9%; Operating Margin: 1.69%; Net Margin: 1.35%; Cash Flow – Operating: $12.31 million; Free Cash Flow: -$7.16 million; Cash at Period End: $48.51 million; Total Debt: $168.22 million; Net Debt: $119.70 million; Current Ratio: 2.38; Quick Ratio: 1.36; D&A: $17.77 million; Tariff exposure potential annualized $4-6 million; Pricing realization targeted to add roughly 80bp to 1.0% in Q3; Theater-driven volume headwinds to abate in H2.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
356.10M
-1.01%
-1.79%
Gross Profit
95.70M
-10.26%
1.92%
Operating Income
6.02M
-66.36%
-3.46%
Net Income
4.82M
-63.81%
-6.20%
EPS
0.25
-63.77%
-3.85%
Key Financial Ratios
Gross Profit Margin
Fair
26.90%
Gross profit margin is moderate, room for improvement in cost management
Operating Profit Margin
Weak
1.69%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
1.35%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
0.36%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
0.52%
Return on equity suggests inefficient capital allocation
Current Ratio
Healthy
2.38
Current ratio shows adequate liquidity to meet short-term obligations
Debt to Equity
Conservative
0.18
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
High Growth
131.44x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
Fair Value
2.71x
Price-to-book ratio reasonable for profitable companies
Management Insights Available for Members
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