Let’s dig into the relative performance of J&J Snack Foods (NASDAQ: JJSF) and its peers as we unravel the now-completed Q4 shelf-stable food earnings season.

As America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options. Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations.

The 21 shelf-stable food stocks we track reported a slower Q4. As a group, revenues missed analysts’ consensus estimates by 0.5% while next quarter’s revenue guidance was 0.5% above.

While some shelf-stable food stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2% since the latest earnings results.

J&J Snack Foods (NASDAQ: JJSF)

Best known for its SuperPretzel soft pretzels and ICEE frozen drinks, J&J Snack Foods (NASDAQ: JJSF) produces a range of snacks and beverages and distributes them primarily to supermarket and food service customers.

J&J Snack Foods reported revenues of $362.6 million, up 4.1% year on year. This print was in line with analysts’ expectations, but overall, it was a disappointing quarter for the company with a significant miss of analysts’ adjusted operating income estimates.

"J & J Snack Foods total net sales increased 4.1%, reflecting continued growth across all three business segments,” stated Dan Fachner, Chairman, President, and CEO.

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $132.29.

Read our full report on J&J Snack Foods here, it’s free.

Best Q4: Lancaster Colony (NASDAQ: LANC)

Known for its frozen garlic bread and Parkerhouse rolls, Lancaster Colony (NASDAQ: LANC) sells bread, dressing, and dips to the retail and food service channels.

Lancaster Colony reported revenues of $509.3 million, up 4.8% year on year, outperforming analysts’ expectations by 2.8%. The business had a very strong quarter with a solid beat of analysts’ EBITDA estimates.

Lancaster Colony achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 5.4% since reporting. It currently trades at $175.39.

Is now the time to buy Lancaster Colony? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Lamb Weston (NYSE: LW)

Best known for its Grown in Idaho brand, Lamb Weston (NYSE: LW) produces and distributes potato products such as frozen french fries and mashed potatoes.

Lamb Weston reported revenues of $1.60 billion, down 7.6% year on year, falling short of analysts’ expectations by 4.3%. It was a disappointing quarter as it posted full-year revenue and EBITDA guidance missing analysts’ expectations.

Lamb Weston delivered the weakest full-year guidance update in the group. As expected, the stock is down 31.5% since the results and currently trades at $53.52.

Read our full analysis of Lamb Weston’s results here.

Kellanova (NYSE: K)

With Corn Flakes as its first and most iconic product, Kellanova (NYSE: K) is a packaged foods company that is dominant in the cereal and snack categories.

Kellanova reported revenues of $3.12 billion, down 1.6% year on year. This print was in line with analysts’ expectations. It was a strong quarter as it also produced a solid beat of analysts’ gross margin estimates and an impressive beat of analysts’ organic revenue estimates.

The stock is flat since reporting and currently trades at $82.49.

Read our full, actionable report on Kellanova here, it’s free.

Utz (NYSE: UTZ)

Tracing its roots back to 1921 when Bill and Salie Utz began making potato chips in their kitchen, Utz Brands (NYSE: UTZ) offers salty snacks such as potato chips, tortilla chips, pretzels, cheese snacks, and ready-to-eat popcorn, among others.

Utz reported revenues of $341 million, down 3.1% year on year. This number missed analysts’ expectations by 2.2%. Taking a step back, it was a satisfactory quarter as it also logged a solid beat of analysts’ EBITDA estimates but a significant miss of analysts’ gross margin estimates.

The stock is down 1.7% since reporting and currently trades at $13.22.

Read our full, actionable report on Utz here, it’s free.

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