John B. Sanfilippo & Son, Inc. reported record net sales of $1.11 billion for fiscal year 2025, marking the second consecutive year the company surpassed the $1 billion threshold. This represents a 3.8% increase over fiscal 2024. For the fourth quarter of fiscal 2025, net sales decreased slightly by $0.5 million, or 0.2%, to $269.1 million, primarily due to a 5.9% decrease in sales volume, largely offset by a 6.0% increase in weighted average selling price per pound.
Full year diluted earnings per share were $5.03, a slight decrease from $5.15 in fiscal 2024. However, the fourth quarter saw diluted EPS increase by 33.7% to $1.15 per share, driven by increased production volume, lower manufacturing spending, and improved manufacturing efficiencies. Full year gross profit decreased 5% to $203.47 million, with the gross profit margin contracting to 18.4% from 20.1% in fiscal 2024, mainly due to higher commodity acquisition costs.
Net cash provided by operating activities decreased to $30.55 million in fiscal 2025 from $101.67 million in fiscal 2024, primarily due to a significant increase in inventory value of $58.0 million. Capital expenditures totaled $50.7 million in fiscal 2025. Looking ahead to fiscal 2026, management plans to invest approximately $104 million in capital expenditures for equipment and upgrades, indicating a continued commitment to expanding domestic production capabilities and enhancing efficiency.
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