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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. (SJM) reported third-quarter fiscal 2023 results with net sales increasing by $159.2 million or 8%, driven by strong demand and price increases. Net income per diluted share rose to $1.95, while adjusted EPS fell by 5% to $2.21. Cash provided by operations surged by 33% to $584.6 million, and free cash flow reached $442.7 million. The company updated its full-year outlook, projecting a 6% net sales increase and adjusted EPS between $8.55 and $8.75, accounting for challenges including the Jif® peanut butter recall.
Café Bustelo has announced the continuation of its El Café del Futuro Scholarship, awarding an additional
The J.M. Smucker Co. (NYSE: SJM) announced a definitive agreement to divest several pet food brands to Post Holdings, Inc. for approximately $1.2 billion. The deal comprises $700 million in cash and around 5.39 million shares of Post's common stock. Brands included in the sale are Rachael Ray Nutrish, 9Lives, Kibbles 'n Bits, Nature's Recipe, and Gravy Train. The company anticipates this divestiture will be dilutive to adjusted earnings per share by about $0.45 annually. The transaction is projected to close by the end of the current fiscal year.
The J.M. Smucker Co. (NYSE: SJM) will present at the 2023 CAGNY Conference on February 22, 2023, at 1:00 p.m. EST. The company will also announce its third quarter fiscal 2023 financial results on February 28, 2023, with details available from 7:00 a.m. EST. A live Q&A session featuring CEO Mark Smucker and CFO Tucker Marshall will occur at 9:00 a.m. EST. Investors can access live webcasts and related materials through the company's investor website. Smucker's diverse portfolio includes iconic brands like Folgers, Jif, and Milk-Bone, aiming to meet evolving consumer preferences.
The J.M. Smucker Co. (NYSE: SJM) announced a dividend of $1.02 per share on its common shares, with a payment date set for March 1, 2023. Shareholders on record as of February 10, 2023 will receive this dividend, reflecting the company's commitment to returning value to its investors. Smucker's diverse brand portfolio continues to resonate with consumers across generations, contributing to its strong market presence in over 80% of U.S. homes.
Rachael Ray Nutrish launches the "Feed Yours. Help More." campaign, supporting animals in need by underscoring their commitment to quality pet food and philanthropy. Each year, 6.3 million companions enter shelters, and by purchasing Nutrish, consumers have contributed over $7 million annually to the Rachael Ray Foundation. This comprehensive campaign features over thirty rescue dogs in various media placements, aiming to raise awareness for animal welfare. The initiative highlights Nutrish's dedication to improving the lives of pets while encouraging consumers to help more animals by choosing their products.
The J.M. Smucker Co. (NYSE: SJM) has appointed Rebecca Scheidler as the new Senior Vice President & General Manager of Consumer Foods, effective Jan. 16, 2023. Scheidler, with over 20 years of experience in consumer packaged goods, will oversee the company’s $1.7 billion Consumer Foods division, focusing on the growth of Smucker's® Uncrustables® and the brands Jif® and Smucker's®. She succeeds Tina Floyd, who will become CEO of Hudsonville Ice Cream.
The J.M. Smucker Co. showcased its strategic priorities at the 2022 Investor Day held in Orrville, Ohio, emphasizing ongoing transformation and financial results. CEO Mark Smucker highlighted growth plans in key areas such as pet food, coffee, and consumer foods. The company targets a net sales growth of 5.5-6.5% for fiscal year 2023, with adjusted earnings per share between $8.35 and $8.75. Key initiatives include enhancing profitability, transforming the portfolio, improving diversity, and fostering a positive culture. The event featured presentations from various leaders detailing commitments and future strategies.
The J.M. Smucker Co. (SJM) is set to release its second quarter fiscal 2023 financial results on November 21, 2022, with materials available from 7:00 a.m. EST. The company will also host a live Q&A session at 9:00 a.m. EST featuring CEO Mark Smucker and CFO Tucker Marshall. Additionally, Smucker will conduct its 2022 Investor Day on December 14, 2022, at 8:30 a.m. EST in New York City, with a webcast available for wider participation.
The J.M. Smucker Co. (NYSE: SJM) has announced a $1.02 per share dividend on its common shares, reflecting its commitment to shareholder returns. The dividend is set to be paid on December 1, 2022, to shareholders on record by the close of business on November 11, 2022. This news underscores the company's stable financial performance amidst evolving consumer preferences and a diverse product portfolio that includes well-known brands.
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