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The J.M. Smucker Company (NYSE: SJM) is a leading American packaged food company celebrated for its commitment to quality and a diverse portfolio of beloved brands. With a primary revenue stream from the U.S. retail channel, which constitutes 77% of its forecast fiscal 2024 revenue, Smucker’s offers products that families across North America trust and enjoy daily.
The company operates in several key categories:
- Coffee: Retail coffee is now Smucker’s largest category, accounting for 33% of sales. Key brands include Folgers and Dunkin'.
- Pet Foods: Contributing 22% of sales, this segment boasts leading brands like Milk-Bone and Meow Mix.
- Consumer Foods: Approximately 22% of sales come from consumer foods, including popular offerings from brands such as Jif and Smucker’s.
Smucker’s has recently acquired Hostess Brands, adding iconic sweet baked snacks such as Twinkies, Ding Dongs, and more to its product lineup. This acquisition is expected to enhance Smucker’s presence in the snack and convenience store segment.
In efforts to streamline its portfolio, the company divested several pet food brands and private-label products, along with the Sahale Snacks® brand and certain pickle brands to other companies. These strategic moves are intended to focus resources and drive sustainable growth.
Financially, Smucker’s reported strong results for its second quarter of fiscal year 2024, despite a 12% decrease in net sales primarily due to divestitures. The company also announced an increase in comparable net sales by 7%, driven by product innovations and strategic price realizations.
Smucker’s continues to innovate, as seen with the launch of new products like the Hostess® HoneyBun Donettes®, combining beloved flavors to meet consumer demand for unique snacking experiences. The company is also introducing limited-time offerings for seasonal occasions, further cementing its market presence.
The company's forward-looking strategy includes integrating Hostess Brands effectively, leveraging synergies, and continuing to lead in its core categories. Committed to sustainable growth, Smucker’s aims to balance profitability with social responsibility, maintaining high standards for product quality and ethical operation.
The J.M. Smucker Co. (NYSE: SJM) has announced an agreement to sell its Voortman® cookie brand to Second Nature Brands for approximately $305 million in cash. This divestiture is part of Smucker's strategy to optimize its portfolio and focus on core growth brands. The deal includes all Voortman® trademarks, a leased manufacturing facility in Burlington, Ontario, and the transition of about 300 employees.
The company expects the sale to be dilutive to adjusted earnings per share by approximately $0.25 on a full-year basis. However, using the proceeds to pay down debt is anticipated to contribute an EPS benefit of about $0.10. The transaction is expected to close in the third quarter of Smucker's fiscal year 2025, subject to regulatory approvals.
Smucker also confirmed progress on the Hostess Brands integration, including completed systems integration, and remains on track to achieve $100 million in synergies by the end of fiscal year 2026.
The J.M. Smucker Co. (NYSE: SJM) has released its fiscal 2025 first-quarter results, reporting a net sales increase of 18% to $2.1 billion. Excluding specific acquisitions and divestitures, net sales rose by 1%. Adjusted EPS was $2.44, up 10% from the previous year, while cash provided by operations was $172.9 million, down from $217.9 million. Free cash flow also decreased from $67.6 million to $49.2 million. The company updated its full-year fiscal 2025 guidance, lowering expected net sales growth to 8.5-9.5% and adjusted EPS to $9.60-$10.00.
Key segment performances included: U.S. Retail Coffee with stable sales and a 1% profit increase; U.S. Retail Frozen Handheld and Spreads with a 7% sales increase; U.S. Retail Pet Foods with a 9% sales decline but a 42% profit increase; and Sweet Baked Snacks contributing $333.7 million in sales.
Increased operating income by 15% to $349.5 million was driven by a favorable impact from the acquisition of Hostess Brands. However, increased interest expenses and higher SD&A expenses impacted the overall financials.
The J.M. Smucker Co. (NYSE: SJM) has announced key dates for its first quarter fiscal 2025 financial results and participation in an industry conference. The company will release its Q1 earnings on August 28, 2024, with a press release, financial statements, and supplemental materials available from 7:00 a.m. ET. A live Q&A session with CEO Mark Smucker and CFO Tucker Marshall will follow at 9:00 a.m. ET.
Additionally, SJM will present at the 2024 Barclays Global Consumer Staples Conference on September 3, 2024, at 12:45 p.m. ET. Investors and interested parties can access live webcasts, replays, and related materials for both events through the company's investor relations website.
The J.M. Smucker Co. (NYSE: SJM) has announced a two percent increase in its quarterly dividend, raising it from $1.06 to $1.08 per share. The enhanced dividend will be distributed on September 3, 2024, to shareholders recorded by August 16, 2024. This marks the 23rd consecutive fiscal year of dividend growth, underscoring the company's commitment to shareholder value.
Acosta Group has expanded its partnership with The J.M. Smucker Company (SJM) to offer a comprehensive North American solution for headquarter sales, retail merchandising, and digital commerce. This collaboration will bolster Smucker's presence across U.S. grocery and mass retail channels.
Acosta will provide a full suite of sales and marketing solutions, leveraging its in-store services to ensure Smucker's brands are well-represented and readily available for purchase both in-store and online. This expanded partnership builds on a long-standing relationship, with Acosta having supported Smucker's brands like Hostess in North America for the past decade and other Smucker brands in Canada and U.S. convenience channels over the years.
Robert Crane, Senior Vice President of Sales for Smucker, emphasized the importance of maintaining excellence in sales execution, while Brian Wynne, President and CEO of Acosta, highlighted their role in elevating Smucker's iconic brands across North America.
The J.M. Smucker Company (NYSE: SJM) reported its fiscal year 2024 fourth-quarter results, ending April 30, 2024. Net sales for the quarter were $2.2 billion, a 1% decrease, but increased by 3% when excluding acquisitions and divestitures. Annual net sales decreased by 4% to $8.2 billion but saw an 8% increase on a comparable basis. Quarterly net income per diluted share was $2.30, with adjusted EPS at $2.66, a 1% increase. For the fiscal year, net income per share was $7.13, with an adjusted EPS of $9.94, reflecting an 11% increase. Cash provided by operations for the quarter was $428.1 million, and free cash flow was $297.5 million. Shareholder dividends for the quarter totaled $112 million and $437.5 million for the year. The company's 2025 outlook projects a 9.5-10.5% increase in net sales, adjusted EPS between $9.80-$10.20, and free cash flow of $900 million.
The J.M. Smucker Co. (NYSE: SJM) will announce its fourth quarter fiscal 2024 financial results on June 6, 2024. The press release, including financial statements, supplemental materials, pre-recorded management remarks, and a transcript, will be available at 7:00 a.m. Eastern Time. A live Q&A session with CEO Mark Smucker and CFO Tucker Marshall will follow at 9:00 a.m. Eastern Time. These materials can be accessed on the company's investor relations website: investors.jmsmucker.com.
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