Stock Story -
Snack food company J&J Snack Foods (NASDAQ:JJSF) will be reporting earnings tomorrow after the bell. Here's what to expect.
J&J Snack Foods beat analysts' revenue expectations by 5.6% last quarter, reporting revenues of $359.7 million, up 6.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts' gross margin estimates and a decent beat of analysts' earnings estimates.
Is J&J Snack Foods a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting J&J Snack Foods's revenue to grow 3.6% year on year to $440.9 million, slowing from the 12% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.99 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. J&J Snack Foods has missed Wall Street's revenue estimates three times over the last two years.
Looking at J&J Snack Foods's peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Kellanova's revenues decreased 4.7% year on year, beating analysts' expectations by 1.5%, and Post (NYSE:POST) reported revenues up 4.7%, falling short of estimates by 3.4%. Kellanova traded up 8.3% following the results while Post was also up 3.1%.
Read the full analysis of Kellanova's and Post's results on StockStory.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 4% on average over the last month. J&J Snack Foods is up 1.1% during the same time and is heading into earnings with an average analyst price target of $187 (compared to the current share price of $166.46).
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