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J&J Snack Foods (JJSF) Misses Q1 EPS by 51c, Revenues Beat

April 27, 2020 4:04 PM EDT

J&J Snack Foods (NASDAQ: JJSF) reported Q1 EPS of $0.39, $0.51 worse than the analyst estimate of $0.90. Revenue for the quarter came in at $272 million versus the consensus estimate of $261.97 million.

Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented, “We have good management in place, strong brands and a broad base of highly respected customers. We continue to monitor and adjust our costs and expenses as we evaluate our business on a daily, weekly, and monthly basis. We are monitoring consumer behavior, customer shifts, and industry needs to adapt our product and marketing mix for the post pandemic landscape. In what is the true JJSF entrepreneurial spirit, we are ready to fight our way back to sales growth and business performance when customers begin to re-open this summer. We are being careful not to reduce our costs so much that we won’t be able service our customers when they return, making sure that we have the proper staffing and resources in place for when business opens up again. And at the same, we are working around the clock updating preventative measures to keep our employees safe. We have always been a company that has been cautious in the way we spend and use our cash. Today we have $267 million in cash and securities, we are protecting it and using it to prepare for the future as we monitor and shape what that looks like in this changing landscape.”

For earnings history and earnings-related data on J&J Snack Foods (JJSF) click here.



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