J & J Snack Foods Corp.

Good morning, and welcome to the J & J Snack Foods second quarter 2026 conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Reed Anderson with ICR. Please go ahead.

Thank you, Operator, and good morning, everyone. Thank you for joining the J&J Snack Foods Fiscal 2026 Second Quarter Conference Call. Before getting started, let me take a minute to read the Safe Harbor language. This call contains forward-looking statements within the meaning of the private security's Litigation Reform Act of 1995. All statements made on this call that do not relate to matters of historical facts should be considered forward-looking statements, including statements regarding management's plans, strategies, goals, expectations, and objectives, as well as our anticipated financial performance. This includes, without limitation, our expectations with respect to the success of our cost savings initiatives and customer demand improvements in the sales channels in which we operate. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties, and other important factors that may cause results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Risk factors and other items discussed in our annual report on Form 10-K and our other filings with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made on the call today. Any such forward-looking statements represent management's estimates as of the date of this call today, May 6, 2026. While we may elect to update forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause expectations to change. In addition, we may also reference certain non-GAAP measures on the call today, including adjusted EBITDA, adjusted operating income, or adjusted earnings per share, all of which are reconciled to the nearest GAAP measure on the company's earnings press release, which can be found in the investor relations section of our website. Joining me on the call today is Dan Faschner, our chief executive officer, along with Sean Munsell, our chief financial officer. Following management's prepared remarks, we will hold up the call for question and answer session. With that, I would now like to turn the call over to Mr. Faschner.

Please go ahead, Dan. Good morning, everyone, and thank you for joining us today. We're excited to discuss our second quarter fiscal 2026 results. I'm pleased to share continued progress this quarter against our strategic priorities. We delivered positive earnings and margin expansion despite a quarter that was impacted by demand softness amid rising fuel costs. Adjusted EBITDA increased 9.5% year-over-year to $28.7 million. And adjusted EPS increased 14.3% to $0.40, while sales declined 3.2% to $344.8 million. Food service sales declined 5%, with most of the decline attributed to the anticipated sales reductions in our bakery business, consistent with Q1. And while retail sales declined 4.1%, The decline was due to higher slotting fees and trade investments to support our innovation pipeline and brand share growth objectives. Frozen beverage results improved due to an increase in beverage volume and cost control. Apollo initiatives and mixed improvements helped to drive gross margin expansion in the quarter. Our ability to improve earnings and margins as we reshape the portfolio demonstrates that our transformation initiatives are working. Our plant consolidations have created significant plant efficiencies, and we're on track to deliver at least 20 million of annualized Apollo savings once all initiatives are implemented. We are now focused on driving administrative and distribution cost reductions. To that end, we executed several of the administrative initiatives later in the second quarter as we reduced corporate expenses. And we expect to achieve the remaining initiatives in the third quarter. Overall, given the implementation later in the quarter, we realized just a modest level of administrative savings in the second quarter, and our distribution efficiencies initiatives will ramp up in Q3. I want to share a few other highlights from the quarter. First, an update on our innovation pipeline. It's important to note that we are still early in the process as several products begin shipping later in the quarter. However, the sell-in process has been progressing very well and we're securing distribution across multiple retail and food service channels. In the quarter, We shipped over 2 million in new products, including about $900,000 of Dippin' Dots for retail, 900,000 of new Dogsters ice cream products, and 200,000 of Luigi's Mini Pops. Our pretzel innovation shipments are ramping up now, and we expect that these new products will deliver exceptional consumer experiences and sales growth. we had another quarter of standout performance in food service pretzels. Sales were up $6.7 million and dollar share increased 4.3%. As in prior quarters, the primary growth driver was Bavarian-style pretzels. In retail, our Dogsters products continue to perform well. We shipped volumes up over 20% versus the prior year. Again, we're encouraged that the new Dogsters sandwich will be well received by our four-legged consumers. We have entered into a new licensing partnership with the Peanuts character Snoopy to be used in conjunction with our Dogsters brand. We're now also introducing the Dogsters product lineup to pet stores. In frozen beverage, Our themed brand activation around some solid movie releases supported segment performance. Looking ahead, we're encouraged by the slight of releases for our fiscal second half. We're optimistic that movies like Super Mario Galaxy, Star Wars Mandalorian, and Toy Story 5 will support theater performance in the second half of 26. Additionally, The ongoing IC test with a West Coast QSR has expanded to additional markets. We are encouraged by the progress and believe that we're nearing completion of the test phase. I'm also proud to share that in honor of our nation's 250th anniversary, we are rolling out several themed products, including a star-shaped super pretzel, red and blue IC squeeze tubes, and red, white, and blue cups for our Luigi's Real Italian Ice. Our financial position remains strong with a clean balance sheet. During the quarter, we repurchased $22 million of shares at an average price of $84.56. Along with the dividends of $15.2 million, we returned over $37 million to shareholders in the quarter. With that, I'll now turn the call over to Sean to walk through the financial details. Sean?