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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) 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.
The J.M. Smucker Co. (SJM) announced a quarterly dividend increase from $0.90 to $0.99 per share, marking a 10% rise. This increase reflects the company's commitment to delivering shareholder value and represents the 20th consecutive year of dividend growth. The dividend will be disbursed on September 1, 2021, to shareholders who are on record as of August 13, 2021. This decision underscores Smucker's financial stability and ongoing strategy to enhance returns for investors.
The J.M. Smucker Co. recently launched the Leadership Perspectives video series, outlining their strategic initiatives for fiscal year 2022. CEO Mark Smucker emphasized the importance of regular communication to sustain business growth and positively impact stakeholders. Key discussions include financial discipline from CFO Tucker Marshall, value creation strategies from COO John Brase, and portfolio evolution from Chief Strategy Officer Amy Held. The series aims to provide insights into ongoing commercial transformations and future workplace strategies, highlighting Smucker's commitment to consumer preferences and responsible sourcing.
The J.M. Smucker Co. reported fourth-quarter results for fiscal 2021, revealing an 8% decline in net sales, totaling $1.92 billion, mostly due to prior pandemic stock-up effects. Full-year net sales increased 3% to $8.0 billion. Net income per share was $1.35, down 32%, while adjusted EPS dropped 26% to $1.89. Free cash flow for Q4 was $183 million and $1.26 billion for the year. The company anticipates a 2-3% sales decrease for fiscal 2022, with adjusted EPS guidance between $8.70 and $9.10.
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