Welcome to our dedicated page for The J.M. Smucker Company news (Ticker: SJM), a resource for investors and traders seeking the latest updates and insights on The J.M. Smucker Company stock.
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) has divested its private label dry pet food business to Diamond Pet Foods for approximately $33 million. This sale includes a manufacturing facility in Kansas and follows a strategic focus on growth areas within its pet food segment. The divested business achieved net sales of around $95 million for the fiscal year ending April 30, 2021. Smucker adjusted its fiscal 2022 guidance, projecting net sales to be down 1% to flat, while adjusted earnings per share remain between $8.35 and $8.75.
The J.M. Smucker Co. (NYSE: SJM) reported a net sales increase of $16 million, or 1%, for Q2 FY2022, with net sales excluding divestitures and foreign exchange rising 8%. Net income per diluted share fell 6% to $1.90, while adjusted earnings per share grew 2% to $2.43. Operating income decreased 18% due to a $106.7 million drop in gross profit, reflecting higher costs. Full-year guidance was updated, projecting net sales growth between -0.5% to 0.5% and adjusted EPS between $8.35 and $8.75. Challenges remain due to cost inflation and supply chain disruptions.
The J.M. Smucker Co. (SJM) will invest $1.1 billion to construct a new manufacturing facility in McCalla, Alabama, aimed at boosting production of Smucker's® Uncrustables®. Construction starts by January 2022, with operations set for 2025. This facility will triple production capacity and align with the brand's significant growth, projected to reach $1 billion in annual net sales by 2026. The investment could create up to 750 jobs in the region, emphasizing Smucker's commitment to growth and local economic impact.
The J.M. Smucker Co. (NYSE: SJM) is set to release its second quarter fiscal 2022 financial results on November 23, 2021. The comprehensive press release will be made available at 7:00 a.m. EST, including financial statements, segment information, and management remarks. A live question-and-answer session with CEO Mark Smucker and CFO Tucker Marshall will follow at 9:00 a.m. EST. The event can be accessed through the company's investor relations website, providing insights into their performance and strategic direction.
The J.M. Smucker Co. (SJM) has declared a $0.99 per share dividend, set to be paid on December 1, 2021, to shareholders of record by November 12, 2021. Additionally, the Board approved a 5 million share increase in its repurchase authorization, bringing the total to approximately 7.8 million shares available for buyback. Future repurchases will depend on management's discretion. This move is aimed at enhancing shareholder value, although no guarantees about the exact number of repurchased shares are made.
The J.M. Smucker Co. (NYSE: SJM) announced the pricing of $500 million in 2.125% notes due 2032 and $300 million in 2.750% notes due 2041. The sale is set to close on September 24, 2021, with a total anticipated net proceeds of about $792.1 million. These proceeds will be used primarily to repay $750 million in senior notes due October 15, 2021, bearing interest at 3.50%, along with general corporate purposes. The offering is part of a registration statement filed with the SEC, and investors are encouraged to read the related prospectus for detailed information.
The J.M. Smucker Co. (SJM) released its 2021 Corporate Impact Report, highlighting advancements in its Thriving Together agenda, which focuses on food access, education, social justice, and environmental sustainability. Key achievements include delivering over 23 million meals, partnering with the LeBron James Family Foundation, and donating $1.3 million to community resources. The company aims to reduce GHG emissions by 28% by 2030 and achieve TRUE certification at all sites. CEO Mark Smucker emphasizes a commitment to higher stakeholder expectations and long-term sustainability.
The J.M. Smucker Co. (SJM) reported first-quarter results for fiscal year 2022, with net sales declining by $113.8 million or 6%. Net income per diluted share was $1.42, while adjusted earnings per share fell 20% to $1.90. Cash from operations decreased by 66% to $137.8 million. The company updated its full-year outlook, projecting a net sales decrease of 1.5% to 2.5% and adjusted EPS between $8.25 and $8.65. Key factors include supply chain challenges and increased costs affecting profitability.
The J.M. Smucker Co. (SJM) will release its Q1 fiscal 2022 financial results on August 26, 2021, at 7:00 a.m. EDT. The report will include comprehensive financial statements and a pre-recorded management discussion. Following this, a live Q&A session with CEO Mark Smucker and CFO Tucker Marshall will take place at 9:00 a.m. EDT. Additionally, the company will participate in the 2021 Barclays Global Consumer Staples Conference on September 9, 2021, at 2:00 p.m. EDT.
The J.M. Smucker Co. (NYSE: SJM) announced it has exceeded its 2020 environmental impact goals, achieving significant reductions in waste-to-landfill, water-use-intensity, and greenhouse-gas-emissions-intensity from a 2014 baseline. CEO Mark Smucker highlighted the collective efforts of employees and partners in this achievement, fostering a commitment to a healthier planet. The company is set to develop new environmental goals, which will be disclosed in the upcoming 2021 Corporate Impact Report. Detailed progress can be found at www.jmsmucker.com/our-impact.
FAQ
What is the current stock price of The J.M. Smucker Company (SJM)?
What is the market cap of The J.M. Smucker Company (SJM)?
What are the primary product categories for The J.M. Smucker Company?
What recent acquisitions has Smucker’s made?
What divestitures has Smucker’s undertaken recently?
How significant is the U.S. retail channel to Smucker’s revenue?
What are some key brands under Smucker’s coffee segment?
What notable pet food brands does Smucker’s offer?
How has Smucker’s performed financially recently?
What new products has Smucker’s introduced recently?
What is the company's strategy moving forward?
Does Smucker’s engage in any ethical and sustainable practices?
