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## J&J Snack Foods Corp. Reports Strong Financial Performance

MOUNT LAUREL, NJ. ÔÇö Growth across all three business segments, highlighted by all-time record-high sales and profitability in the recently acquired DippinÔÇÖ Dots business, contributed to strong financial performance at J&J Snack Foods Corp. in the fourth quarter and full year.

### Fiscal Year Results

Net earnings in the fiscal year ended Sept. 30 totaled $78.91 million, equal to $4.10 per share on the common stock, up 67% from $47.23 million, or $2.47 per share, in fiscal 2022. The company also reported that net sales of $1.56 billion were up 13% from $1.38 billion. Operating expenses increased to 22.3% of sales, up from 22.3% in fiscal 2022.

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### Fourth Quarter Performance

In the fourth quarter, net earnings of $30.42 million, or $1.58 per share, were up 76% from $17.3 million, or 90¢ per share, in the same period a year ago. Net sales increased 10.8% to $443.86 million from $400.43 million.

### Company Statements

Daniel Fachner, president and chief executive officer, expressed the company’s satisfaction with the fiscal year results. Fachner highlighted the significant progress made across the organization, emphasizing the positive impact of strategic initiatives and the dedication of the employees.

### Stock Performance

Following the strong results, J&J Snack FoodsÔÇÖ stock reached a near 52-week high, climbing to $176.38 on Nov. 16 before closing at $168.39 for the day. The companyÔÇÖs share price closed at $160.86 on Nov. 15.

### Segment Performance

In the Foodservice division, operating income in fiscal 2023 surged 169% to $47.78 million from $18.51 million. Operating income in the Retail Supermarket segment was narrowly lower, while in the Frozen Beverages segment, operating income increased 49% in the full year.

### Product Highlights

Fachner highlighted three brands during the conference call: SuperPretzel, Hola! Churros, and DippinÔÇÖ Dots. Acquired in June 2022, DippinÔÇÖ Dots stood out in fiscal 2023 as ÔÇ£the best example of how we are executing product development and leveraging cross-selling opportunities,ÔÇØ Fachner said.

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### Future Plans

First-year success was also noted for Hola! Churros, and growth in the companyÔÇÖs SuperPretzel brand took shape in the form of expanded retail availability. J&J Snack also has plans to launch a new cookie dough offering under the DippinÔÇÖ Dots brand in 2024.

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