John B. Sanfilippo & Son, Inc. reported its fiscal 2025 second quarter results, ending December 26, 2024, achieving its largest quarterly sales volume and highest quarterly net sales in company history. Net sales increased by $9.8 million, or 3.4%, to $301.1 million. This growth was driven by a 7.1% increase in sales volume, with bars sales volume increasing by approximately 28% over the prior year quarter.
Gross profit for the quarter decreased by $5.7 million to $52.3 million, primarily due to lower selling prices from competitive pressures and strategic pricing decisions, alongside higher commodity acquisition costs for most tree nuts. The gross profit margin contracted to 17.4% of net sales from 19.9% in the comparable prior-year quarter. Diluted earnings per share were $1.16, a decrease from $1.64 in the corresponding quarter of the previous year.
The value of total inventories on hand increased by $8.5 million, or 4.3%, mainly due to higher commodity acquisition costs for major tree nuts and chocolate, as well as increased quantities of almonds and cashews. The weighted average cost per pound of raw nut and dried fruit input stock on hand increased 33.7% year over year. The company plans to complete the consolidation of its Elgin and Lakeville distribution operations into a new facility in Huntley, Illinois, in the second half of fiscal 2025, and add manufacturing equipment to increase production capabilities.
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