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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) 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.
The J.M. Smucker Co. (NYSE: SJM) is set to host its fourth quarter fiscal 2021 earnings conference call on June 3, 2021, at 8:30 a.m. EDT. The event will feature Mark Smucker, CEO, and Tucker Marshall, CFO. A press release with financial statements will precede the call at 7:00 a.m. EDT.
Smucker's diverse brand portfolio, including Folgers and Jif, positions it to meet evolving consumer expectations across generations.
The J.M. Smucker Co. (SJM) declared a $0.90 per share dividend, payable on June 1, 2021, to shareholders of record by May 14, 2021. The company also scheduled its Annual Meeting of Shareholders for August 18, 2021, at 12:00 p.m. ET, in a virtual format. Eligible shareholders must register by entering their 16-digit control number from their proxy materials. Smucker's diverse portfolio is well-recognized and found in 90% of U.S. homes, emphasizing its commitment to meeting consumer needs.
The J. M. Smucker Co. (NYSE: SJM) announced a voluntary recall of two lots of Meow Mix® Original Choice Dry Cat Food due to potential salmonella contamination. The recall affects 30LB bags sold at select Walmart stores across several states, including IL, MO, NE, NM, OK, UT, WI, and WY. No reports of illness have been received, and the recall is a precautionary measure. Consumers are advised to check their products for the specific lot codes and dispose of them immediately.
The J.M. Smucker Co. (NYSE: SJM) has announced a strategic partnership with JDE Peet's to enhance its Away From Home liquid coffee business. This collaboration focuses on product development and innovation in foodservice equipment. COO John Brase expressed optimism regarding this partnership's potential to drive category growth. In a related decision, Smucker plans to close its Suffolk, Virginia production facility and seek a buyer. Importantly, this partnership will not affect Smucker's retail coffee business.
The J.M. Smucker Co. (NYSE: SJM) reported a 5% increase in net sales for Q3 FY2021, reaching $2.08 billion, driven by growth across U.S. and International retail businesses. Net income per diluted share rose 41% to $2.32, while adjusted EPS saw a 4% gain at $2.45. Although cash from operations decreased by 7% to $486.3 million, free cash flow was $416.6 million. Smucker increased its full-year guidance, projecting a 2% rise in net sales and adjusted EPS between $8.70 and $8.90, against 112.6 million shares outstanding.
The J.M. Smucker Co. (NYSE: SJM) has announced its executive management presentation at the 2021 CAGNY Virtual Conference on February 17, 2021, at 9:20 a.m. EST. Additionally, the company will hold its Q3 fiscal 2021 earnings call on February 25, 2021, at 8:30 a.m. EST, with a press release and financial statements available at 7:00 a.m. EST. The webcasts can be accessed via the company's website: investors.jmsmucker.com. This engagement aims to communicate the company's ongoing strategy and performance to investors.
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