# EDGAR Filing Document

**Accession Number:** 0000785956
**File Stem:** 0001437749-26-015010
**Filing Date:** 2026-5
**Character Count:** 27319
**Document Hash:** cf844edce6534faa5f58c64ee9aaa59f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-015010.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001437749-26-015010

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260506

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** J&J SNACK FOODS CORP
- **CENTRAL INDEX KEY:** 0000785956
- **STANDARD INDUSTRIAL CLASSIFICATION:** COOKIES & CRACKERS [2052]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 221935537
- **STATE OF INCORPORATION:** NJ
- **FISCAL YEAR END:** 0926

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-14616
- **FILM NUMBER:** 26945754

**BUSINESS ADDRESS:**
- **STREET 1:** 350 FELLOWSHIP ROAD
- **STREET 2:** SUITE 100
- **CITY:** MOUNT LAUREL
- **STATE:** NJ
- **ZIP:** 08054
- **BUSINESS PHONE:** 6096659533

**MAIL ADDRESS:**
- **STREET 1:** 350 FELLOWSHIP ROAD
- **STREET 2:** SUITE 100
- **CITY:** MOUNT LAUREL
- **STATE:** NJ
- **ZIP:** 08054

?xml version='1.0' encoding='ASCII'? jjsf20260506_8k.htm

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

<u>Date of Report (Date of earliest event reported): May 6, 2026</u>

**<u>J&J SNACK FOODS CORP.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| New Jersey | 000-14616 | 22-1935537 |
| (State or Other | (Commission | (I.R.S. Employer |
| Jurisdiction of<br> Organization) | File Number) | Identification No.) |

---

<u>350 Fellowship Rd., Mount Laurel, New Jersey 08054</u>

(Address of principal executive offices) (Zip Code)

<u>Registrant's telephone number, including area code: (856) 665-9533</u>

<u>N/A</u>

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act (17 CFR 240.14d-2(b))

**☐** **Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))**

Securities registered pursuant to Section 12(b) of the Exchange Act:

---

| | | |
|:---|:---|:---|
| <u>Title of Each Class</u> | <u>Trading Symbol(s)</u> | <u>Name of Each Exchange on Which Registered</u> |
| Common Stock, no par value | JJSF | The Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS**

On May 6, 2026, J & J Snack Foods Corp. issued a press release reporting its financial results for the fiscal second quarter ended March 28, 2026.

The information in this report and in the attached press release shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

**ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.**

(d) Exhibits

---

| | |
|:---|:---|
| Exhibit Number | Description of Document |
| 99.1 | [Press Release, dated May 6, 2026](ex_957468.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

J & J SNACK FOODS CORP.

<u>By:</u><u>/s/</u><u>Shawn Munsell</u>

Shawn Munsell

Chief Financial Officer

Date: May 6, 2026

## Exhibit 99.1

**Exhibit 99.1**

![logo.jpg](logo.jpg)

**J & J Snack Foods Reports Fiscal 2026 Second Quarter Results**

**Mount Laurel, NJ. May 6, 2026** – J & J Snack Foods Corp. (Nasdaq: JJSF) today reported financial results for the first quarter ended March 28, 2026.

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Second Quarter** | **Second Quarter** |
|  | **Actuals** | **$ v. LY** | **% v. LY** |
| **Net Sales** | $344.8M | $(11.3)M | (3.2)% |
| **Gross Profit**  | $99.3M | $3.6M | 3.8% |
| **Operating Income** | $1.8M | ($4.2M) | (70.1%) |
| **Net Earnings** | $1.7M | ($3.1M) | (65.2%) |
| **Earnings per Diluted Share**  | $0.09 | ($0.16) | (64.0%) |
| **Adjusted Operating Income** | $9.6M | $0.8M | 8.7% |
| **Adjusted EBITDA** | $28.7M | $2.5M | 9.5% |
| **Adjusted Earnings per Diluted Share** | $0.40 | $0.05 | 14.3% |

---

*This press release contains non-GAAP financial measures. Please refer to the Non-GAAP Financial Measures section below for reconciliations to the most comparable GAAP measures.*

"Our second quarter results demonstrate meaningful progress in our strategic transformation, with strong profitability improvements that position us well for the future," said Dan Fachner, Chairman, President, and CEO of J&J Snack Foods. "Our transformation initiatives and mix improvements enabled us to drive solid bottom line growth including a 9.5% increase in Adjusted EBITDA and a 14.3% increase in Adjusted earnings per share. These results clearly show that Project Apollo is delivering tangible benefits and improving our underlying business performance.

"The innovative product launches we discussed last quarter are now reaching customers with positive early reception, and our pipeline remains robust. During the quarter, we repurchased $22 million of stock and we continue to see compelling value in our shares as we execute our transformation strategy."

**Second Quarter Results**

Net sales decreased 3.2% from the prior year quarter to $344.8 million, with most of the decline attributable to anticipated reductions to our bakery business.

● Food Service segment net sales decreased 5.0%

● Retail Supermarket segment net sales decreased 4.1%

● Frozen Beverage segment net sales increased 3.1%

Gross profit increased from $95.7 million in the prior year quarter to $99.3 million, while gross margin improved from 26.9% to 28.8%. The improvement in gross margin primarily reflects our Apollo transformation initiatives and mix improvements versus the prior year.

------

Total operating expenses of $97.5 million included $6.5 million in non-recurring plant closure costs, as well as other non-recurring expenses. Of the non-recurring costs, $4.1 million was non-cash.

● Selling and Marketing expenses increased 5.5% to $30.1 million or 8.7% of sales, up from 8.0% in the prior year quarter. The increase included investments in brand support and sponsorships.

● Distribution expenses decreased 0.2% to $41.7 million or 12.1% of sales up from 11.7% in the prior year quarter. Distribution expenses included higher fuel costs of approximately $0.4 million.

● Administrative expenses increased 7.2% to $21.2 million or 6.1% of sales, up from 5.5% in the prior year quarter. The increase was primarily due to a $0.9 million increase in non-recurring legal expenses and other restructuring charges including severance.

Operating income was $1.8 million, compared to $6.0 million in the prior year quarter, while adjusted operating income was $9.6 million, compared to $8.9 million in the prior year quarter. Earnings per diluted share were $0.09, compared to $0.25 in the prior year quarter, while adjusted earnings per diluted share were $0.40, compared to $0.35 in the prior year quarter. The effective tax rate was 28.1%, compared to 27.2% in the prior year quarter.

**Food Service Segment** 

● Net sales of $214.7 million, a year-over-year decrease of $11.4 million or 5.0%.

● Anticipated reductions in our lower margin bakery business represented approximately $8.0 million of the decline.

● Pretzels sales increased $6.7 million, partly offsetting lower sales of handhelds, cookies, and churros.

● Operating income increased $3.4 million to $10.9 million.

**Retail Supermarket Segment** 

● Net sales of $51.6 million, a year-over-year decrease of $2.2 million or 4.1%.

● Frozen novelty sales declined $3.9 million, driven primarily by increased slotting fees associated with our new product innovation and higher trade investment compared to the prior year.

● Retail handheld sales increased as we lapped capacity constraints in the prior year.

● Operating income decreased $3.9 million to a ($0.4) million loss.

**Frozen Beverages Segment**

● Net sales of $78.5 million, a year-over-year increase of $2.3 million or 3.1%.

● Beverage sales were up $5.2 million while service sales declined $3.2 million.

● Operating income increased $2.1 million to $4.6 million.

**Share Repurchases**

During the quarter, we repurchased 259,889 shares of common stock for $22 million. As of March 28, 2026, there was $28 million remaining under the $50 million share repurchase program approved by the Board of Directors.

------

**Conference Call**

J&J Snack Foods Corp. will host a conference call to discuss results and business outlook today, May 6, 2026, at 10:00 a.m. Eastern Time. Investors interested in participating in the live call can dial (844) 826-3033 from the U.S. or international callers can dial (412) 317-5185. There will also be a live webcast available on the Investor Relations section of the Company's web site at <u>investors.jjsnack.com/news-events/events</u> or directly <u>here</u>. The webcast will be archived for approximately 30 days.

**About J & J Snack Foods Corp.** 

J & J Snack Foods Corp. (Nasdaq: JJSF) is a leader and innovator in the snack food and frozen beverage industry. For over fifty years, the company has specialized in delicious snack and beverage brands for the foodservice and retail segments, serving up fun across the U.S. market. J & J Snack Foods' core brands include SUPERPRETZEL, the #1 soft pretzel brand, ICEE and SLUSH PUPPIE frozen beverages, and Dippin' Dots, the original beaded ice cream. The company's broad brand portfolio also includes LUIGI'S Real Italian Ice, MINUTE MAID\* frozen ices, WHOLE FRUIT frozen fruit bars, DOGSTERS ice cream style treats for dogs, ¡Hola! Churros, THE FUNNEL CAKE FACTORY funnel cakes and fries, and bakery brands including MARY B'S, DADDY RAY'S, COUNTRY HOME BAKERS, and HILL & VALLEY. For more information, please visit http://www.jjsnack.com. \*MINUTE MAID is a registered trademark of The Coca-Cola Company.

**Cautionary Statement Regarding Forward-Looking Information**

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company's expected future financial position, results of operations, revenue growth and profit levels, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "goals," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. This includes, without limitation, our statements, and expectations regarding any current or future recovery in our industry and the future impact of our operational efficiency projects. Such forward-looking statements are inherently uncertain, and readers must recognize that actual results may differ materially from the expectations of management. We do not undertake a duty to update such forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include consumer spending, price competition, acceptance of new products, the pricing and availability of raw materials, transportation costs, changes in the competitive marketplace the uncertainty and ultimate economic impact of the COVID-19 pandemic or similar health outbreaks, and other risks identified in our annual report on Form 10-K, and our other filings with the Securities and Exchange Commission. Many of these factors are outside of the Company's control.

------

**Non-GAAP Financial Measures** 

Adjusted EBITDA consists of net earnings adjusted to exclude: income taxes (benefit); investment income; interest expense; depreciation and amortization; share-based compensation expense; net (gain) loss on sale or disposal of assets; impairment charges, restructuring costs, merger and acquisition costs, acquisition related inventory adjustments, strategic business transformation costs, integration costs, non-recurring legal fee settlements, gain on insurance proceeds received for damage to property, plant and equipment, and plant closure expenses. Adjusted Operating Income consists of operating income adjusted to exclude: impairment charges, restructuring costs, merger and acquisition costs, acquisition related amortization expenses and inventory adjustments, strategic business transformation costs, integration costs, non-recurring legal fee settlements, gain on insurance proceeds received for damage to property, plant and equipment, and plant closure expenses. Adjusted Earnings per Diluted Share consists of net earnings adjusted to exclude: impairment charges, restructuring costs, merger and acquisition costs, acquisition related amortization expenses and inventory adjustment, strategic business transformation costs, integration costs, non-recurring legal fee settlements, gain on insurance proceeds received for damage to property, plant and equipment, and plant closure expenses. For purposes of comparability, the income tax effect of pre-tax adjustments is determined using statutory tax rates. This press release contains certain non-GAAP financial measures; Adjusted EBITDA, Adjusted Operating Income, and Adjusted Earnings per Diluted Share. A "non-GAAP financial measure" is a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with U.S. generally accepted accounting principles ("GAAP") in the statements of income, balance sheets, or statements of cash flow of the company. Pursuant to applicable reporting requirements, the company has provided reconciliations below of non-GAAP financial measures to the most directly comparable GAAP measure. The non-GAAP financial measures presented within the Company's earnings release are not indicators of our financial performance under GAAP and should not be considered as an alternative to the applicable GAAP measure. These non-GAAP measures have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. In addition, in evaluating these non-GAAP measures, you should be aware that in the future we may incur income, expenses, gains and losses, similar to the adjustments in this press release. Our presentation of these non-GAAP measures should not be construed as an inference that our future results will be unaffected by unusual or infrequent items. We compensate for these limitations by providing equal prominence to our GAAP results and using non-GAAP measures only as supplemental presentations. The non-GAAP measures presented are utilized by management to evaluate the Company's business performance and profitability by excluding certain items that may not be indicative of our recurring core business operating results. The Company believes that these measures provide additional clarity for investors by excluding specific income, expenses, gains, and losses, in an effort to show comparable business operating results for the periods presented. Similarly, Management believes these adjusted measures are useful performance measures because certain items included in the calculations may either mask or exaggerate trends in the Company's ongoing operating performance. See the reconciliation of Non-GAAP Financial Measures below.

**Investor Contact:** 

Reed Anderson, ICR

(646) 277-1260

<u>reed.anderson@icrinc.com</u>

------

**J & J SNACK FOODS CORP. AND SUBSIDIARIES**

**CONSOLIDATED STATEMENTS OF EARNINGS**

**(Unaudited)**

**(in thousands, except per share amounts)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Six months ended** | **Six months ended** |
|  | **March 28,** | **March 29,** | **March 28,** | **March 29,** |
|  | **2026** | **2025** | **2026** | **2025** |
| Net sales | $344819 | $356099 | $688597 | $718697 |
| Cost of goods sold | 245527 | 260396 | 493293 | 529093 |
| Gross profit | 99292 | 95703 | 195304 | 189604 |
| Operating expenses |  |  |  |  |
| Marketing  | 30083 | 28507 | 61582 | 57176 |
| Distribution | 41737 | 41833 | 79793 | 81443 |
| Administrative | 21184 | 19754 | 41561 | 38657 |
| Gain on insurance proceeds received for damage to property, plant and equipment |  |  | (800) |  |
| Plant closure expenses | 4756 |  | 10869 |  |
| Other general expense | (271) | (414) | (141) | 66 |
| Total operating expenses | 97489 | 89680 | 192864 | 177342 |
| Operating income | 1803 | 6023 | 2440 | 12262 |
| Other income (expense) |  |  |  |  |
| Investment income | 832 | 689 | 1544 | 1726 |
| Interest expense | (302) | (85) | (441) | (297) |
| Earnings before income taxes | 2333 | 6627 | 3543 | 13691 |
| Income tax expense | 656 | 1803 | 983 | 3724 |
| NET EARNINGS | $1677 | $4824 | $2560 | $9967 |
| Earnings per diluted share | $0.09 | $0.25 | $0.13 | $0.51 |
| Weighted average number of diluted shares | 18930 | 19563 | 19136 | 19568 |
| Earnings per basic share | $0.09 | $0.25 | $0.13 | $0.51 |
| Weighted average number of basic shares | 18910 | 19488 | 19113 | 19480 |

---

------

**J & J SNACK FOODS CORP. AND SUBSIDIARIES**

**CONSOLIDATED BALANCE SHEETS**

**(Unaudited)**

**(in thousands, except share amounts)**

---

| | | |
|:---|:---|:---|
|  | **March 28,** | **September 27,** |
|  | **2026** | **2025** |
| **Assets** |  |  |
| Current assets |  |  |
| Cash and cash equivalents | $59746 | $105893 |
| Accounts receivable, net | 178011 | 184069 |
| Inventories | 171561 | 175173 |
| Prepaid expenses and other | 24169 | 13197 |
| Total current assets | 433487 | 478332 |
| Property, plant and equipment, at cost | 1030562 | 1009463 |
| Less accumulated depreciation and amortization | 646912 | 619310 |
| Property, plant and equipment, net | 383650 | 390153 |
| Other assets |  |  |
| Goodwill | 185070 | 185070 |
| Trade name intangible assets, net | 105920 | 105920 |
| Other intangible assets, net | 63930 | 66730 |
| Operating lease right-of-use assets | 149591 | 151538 |
| Other | 3488 | 3758 |
| Total other assets | 507999 | 513016 |
| **Total Assets** | $1325136 | $1381501 |
| **Liabilities and Stockholders' Equity** |  |  |
| Current Liabilities |  |  |
| Current portion of long-term debt | $29000 | $- |
| Current finance lease liabilities | 615 | 563 |
| Accounts payable | 89631 | 82405 |
| Accrued insurance liability | 15718 | 16441 |
| Accrued liabilities | 12326 | 12606 |
| Current operating lease liabilities | 23064 | 21624 |
| Accrued compensation expense | 22143 | 26475 |
| Dividends payable | 15003 | 15552 |
| Total current liabilities | 207500 | 175666 |
| Long-term debt |  |  |
| Noncurrent finance lease liabilities | 1117 | 1355 |
| Noncurrent operating lease liabilities | 138737 | 140021 |
| Deferred income taxes | 91180 | 91703 |
| Other long-term liabilities | 6526 | 6061 |
| **Stockholders' Equity** |  |  |
| Preferred stock, $1 par value; authorized 10,000,000 shares; none issued |  |  |
| Common stock, no par value; authorized, 50,000,000 shares; issued and outstanding 18,753,000 and 19,440,000 respectively | 78110 | 139118 |
| Accumulated other comprehensive loss | (10607) | (12647) |
| Retained Earnings | 812573 | 840224 |
| Total stockholders' equity | 880076 | 966695 |
| **Total Liabilities and Stockholders' Equity** | $1325136 | $1381501 |

---

------

**J & J SNACK FOODS CORP. AND SUBSIDIARIES**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Unaudited)**

**(in thousands)**

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Six months ended** |
|  | **March 28,** | **March 29,** |
|  | **2026** | **2025** |
| **Operating activities:** |  |  |
| Net earnings | $2560 | $9967 |
| Adjustments to reconcile net earnings to net cash provided by operating activities |  |  |
| Depreciation of fixed assets | 34799 | 31585 |
| Amortization of intangibles and deferred costs | 2800 | 3925 |
| Losses (Gains) from disposals of property & equipment | 168 | (77) |
| Non-cash plant shutdown expenses | 5046 |  |
| Non-cash impairment charge | 850 |  |
| Share-based compensation | 3131 | 2753 |
| Deferred income taxes | (480) | 56 |
| Gain on insurance proceeds received for damage to property, plant, and equipment | (800) |  |
| Other | 270 | 209 |
| Changes in assets and liabilities, net of effects from purchase of companies |  |  |
| Decrease in accounts receivable | 6378 | 15794 |
| Decrease (Increase) in inventories | 2057 | (13167) |
| Net changes in other operating assets and liabilities | (5137) | (3573) |
| Net cash provided by operating activities | 51642 | 47472 |
| **Investing activities:** |  |  |
| Purchases of property, plant and equipment | (35184) | (38530) |
| Proceeds from disposal of property and equipment | 421 | 622 |
| Proceeds from insurance for fixed assets | 800 |  |
| Net cash (used in) investing activities | (33963) | (37908) |
| **Financing activities:** |  |  |
| Payments to repurchase common stock | (63981) | (5000) |
| Proceeds from issuance of stock | 1160 | 2886 |
| Purchase of vested employee service share units and performance share units | (728) |  |
| Borrowings under credit facility | 75000 | 15000 |
| Repayment of borrowings under credit facility | (46000) | (15000) |
| Payments on finance lease obligations | (249) | (121) |
| Payment of cash dividend | (30760) | (30371) |
| Net cash (used in) financing activities | (65558) | (32606) |
| Effect of exchange rates on cash and cash equivalents | 1732 | (1838) |
| Net (decrease) in cash and cash equivalents | (46147) | (24880) |
| Cash and cash equivalents at beginning of period | 105893 | 73394 |
| Cash and cash equivalents at end of period | $59746 | $48514 |

---

------

**J & J SNACK FOODS CORP. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited) (in thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Six months ended** | **Six months ended** |
|  | **March 28,** | **March 29,** | **March 28,** | **March 29,** |
|  | **2026** | **2025** | **2026** | **2025** |
| Sales to external customers: |  |  |  |  |
| Food Service | $214665 | $226053 | $433821 | $464936 |
| Retail Supermarket | 51620 | 53848 | 97502 | 98565 |
| Frozen Beverages | 78534 | 76198 | 157274 | 155196 |
| Consolidated sales to external customers | $344819 | $356099 | $688597 | $718697 |
| Operating Income: |  |  |  |  |
| Food Service | $10855 | $7465 | $20954 | $16279 |
| Retail Supermarket | (385) | 3512 | 775 | 4703 |
| Frozen Beverages | 4636 | 2522 | 8685 | 7213 |
| Total Segment Operating Income | 15106 | 13499 | 30414 | 28195 |
| General corporate expenses | 8547 | 7476 | 17905 | 15933 |
| Gain on insurance proceeds received for damage to property, plant and equipment |  |  | (800) |  |
| Plant closure expense | 4756 |  | 10869 |  |
| Total Unallocated Operating Expenses (net) | 13303 | 7476 | 27974 | 15933 |
| Total Operating Income | $1803 | $6023 | $2440 | $12262 |

---

------

**J & J SNACK FOODS CORP. AND SUBSIDIARIES** 

**NON-GAAP FINANCIAL MEASURES**

**(Unaudited) (in thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Six months ended** | **Six months ended** |
|  | **March 28,** | **March 29,** | **March 28,** | **March 29,** |
|  | **2026** | **2025** | **2026** | **2025** |
| **Reconciliation of GAAP Net Earnings to Adjusted EBITDA**  |  |  |  |  |
| Net Earnings | $1677 | $4824 | $2560 | $9967 |
| Income Taxes | 656 | 1803 | 983 | 3724 |
| Investment Income | (832) | (689) | (1544) | (1726) |
| Interest Expense | 302 | 85 | 441 | 297 |
| Depreciation and Amortization | 18915 | 17766 | 37599 | 35510 |
| Share-Based Compensation | 1652 | 1627 | 3131 | 2752 |
| Gain on insurance proceeds received for damage to property, plant and equipment |  |  | (800) |  |
| Restructuring Costs | 1244 | 260 | 1501 | 260 |
| Non-recurring Legal Expenses | 483 | 591 | 802 | 591 |
| Net (Gain) Loss on Sale or Disposal of Assets | (175) | (69) | 168 | 77 |
| Plant closure expenses | 4756 |  | 10869 |  |
| **Adjusted EBITDA** | $**28678** | $**26198** | $**55710** | $**51452** |
| **Reconciliation of GAAP Operating Income to Adjusted Operating Income** |  |  |  |  |
| Operating Income | $1803 | $6023 | $2440 | $12262 |
| Gain on insurance proceeds received for damage to property, plant and equipment |  |  | (800) |  |
| Restructuring Costs | 1244 | 260 | 1501 | 260 |
| Non-recurring Legal Expenses | 483 | 591 | 802 | 591 |
| Acquisition Related Amortization Expenses | 1357 | 1995 | 2800 | 3925 |
| Plant closure expenses | 4756 |  | 10869 |  |
| **Adjusted Operating Income** | $**9643** | $**8869** | $**17612** | $**17038** |
| **Reconciliation of GAAP Earnings per Diluted Share to Adjusted Earnings per Diluted Share** |  |  |  |  |
| Earnings per Diluted Share | $0.09 | $0.25 | $0.13 | $0.51 |
| Gain on insurance proceeds received for damage to property, plant and equipment |  |  | (0.04) |  |
| Restructuring Costs | 0.07 | 0.01 | 0.08 | 0.01 |
| Non-recurring Legal Expenses | 0.03 | 0.03 | 0.04 | 0.03 |
| Acquisition Related Amortization Expenses | 0.07 | 0.10 | 0.15 | 0.20 |
| Plant closure expenses | 0.25 |  | 0.57 |  |
| Tax Effect of Non-GAAP Adjustments (1) | (0.11) | (0.04) | (0.22) | (0.07) |
| **Adjusted Earnings per Diluted Share** | $**0.40** | $**0.35** | $**0.71** | $**0.68** |

---

(1) Income taxes associated with pre-tax adjustments determined using statutory tax rates