John B. Sanfilippo & Son, Inc. announced its fiscal 2025 third quarter results, reporting a 49.6% increase in diluted earnings per share to $1.72. Gross profit for the quarter increased by $6.7 million to $55.9 million, with the gross profit margin rising to 21.4% of net sales from 18.1% in the prior comparable quarter. This improvement was primarily driven by inventory valuation adjustments related to rising commodity input costs and favorable manufacturing efficiencies.
Net sales for the third quarter decreased by $11.0 million, or 4.0%, to $260.9 million, attributed to a 7.9% decrease in sales volume. Sales volume declined across most major product types, including a 16.0% reduction in bars volume due to reduced sales to a mass merchandising retailer. The weighted average selling price per pound increased by 4.2% due to higher commodity acquisition costs for all major tree nuts.
The company announced plans to invest approximately $90 million in equipment to expand its domestic production capabilities and improve related infrastructure by the end of fiscal 2026. This investment reflects confidence in domestic manufacturing and future growth. The value of total inventories on hand increased by $47.1 million, or 22.4%, primarily due to higher quantities and costs of finished goods and almonds, as well as higher commodity acquisition costs for walnuts and pecans.
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