Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Smucker (SJM) , which belongs to the Zacks Food - Miscellaneous industry. This food maker has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 7.05%. For the most recent quarter, Smucker was expected to post earnings of $2.27 per share, ...

The J. M. Smucker Company (SJM) is well-positioned to sustain its growth trajectory. The company's diverse brand portfolio, effective pricing strategies and operational efficiencies have been working well. Sustained demand across brands and categories also keeps this food and beverage product company in good shape. Core Strategies Aid For fiscal 2024, the company anticipates comparable net sales to rise 8.75% on elevated net pricing and a favorable volume/mix. Fourth-quarter comparable sales are expected to ...

Financial Performance - In Q3 2024, net sales were $2,229.2 million, a 1% increase from $2,216.3 million in Q3 2023, while net sales for the nine months ended January 31, 2024, were $5,973.0 million, a 5% decrease from $6,294.4 million in the prior year[158]. - Gross profit for Q3 2024 was $823.1 million, representing a 9% increase from $755.8 million in Q3 2023, while gross profit for the nine months ended January 31, 2024, was $2,202.1 million, a 10% increase from $2,009.4 million[158]. - Operating income for Q3 2024 was $297.4 million, a 6% decrease from $317.9 million in Q3 2023, while operating income for the nine months ended January 31, 2024, was $899.8 million, a 14% increase from $791.0 million[158]. - Net income for Q3 2024 was $120.4 million, a 42% decrease from $208.5 million in Q3 2023, while net income for the nine months ended January 31, 2024, was $498.9 million, a 2% decrease from $509.4 million[158]. - Adjusted operating income increased by $167.4 million, or 17%, compared to the prior year, reflecting the exclusion of special project costs and amortization expense[171]. - Adjusted earnings per share for the nine months ended January 31, 2024, was $7.27, compared to $6.28 for the same period in 2023, reflecting a 15.7% increase[228]. Acquisitions and Divestitures - The acquisition of Hostess Brands was completed for a total consideration of $5.4 billion, expected to contribute approximately $650.0 million in net sales in 2024, with anticipated cost synergies of $100.0 million by the end of 2026[148]. - The divestiture of the Canada condiment business generated net proceeds of $25.3 million, with the brands having generated net sales of approximately $60.0 million in 2023[147]. - The Sahale Snacks business was sold for final net proceeds of $31.6 million, with net sales of approximately $48.0 million generated in 2023[150]. - The sale of certain pet food brands resulted in net proceeds of $1.2 billion, with these brands generating net sales of $1.5 billion in 2023[151]. - Integration costs related to the Hostess Brands acquisition are anticipated to be approximately $210.0 million, with over half expected to be recognized in 2024[175]. - The company expects to incur an estimated $60.0 million in additional capital expenditures related to the acquisition of Hostess Brands for the second half of 2024[219]. Sales Performance by Segment - The U.S. Retail Frozen Handheld and Spreads segment net sales increased by $10.4 million, or 2%, excluding the impact of divestitures, with higher net price realization contributing 5 percentage points[185]. - The U.S. Retail Pet Foods segment net sales decreased by 39% in the third quarter of 2024, reflecting a significant decline in sales volume[182]. - U.S. Retail Frozen Handheld and Spreads segment net sales increased by $195.4 million, or 17%, in the first nine months of 2024, excluding the impact of divested Sahale Snacks business[186]. - U.S. Retail Pet Foods segment net sales decreased by $882.6 million in the first nine months of 2024, but increased by $235.4 million, or 21%, when excluding the impact of divested brands[189]. - Sweet Baked Snacks segment contributed net sales of $300.3 million and segment profit of $68.0 million in the third quarter of 2024, following the acquisition of Hostess Brands[190]. - International and Away From Home net sales increased by $111.3 million, or 14%, in the first nine months of 2024, excluding the impact of divestitures and foreign currency exchange[192]. Cash Flow and Debt - Cash provided by operating activities increased by $50.7 million to $801.3 million in the first nine months of 2024 compared to $750.6 million in the prior year[194]. - Cash used for investing activities totaled $3.9 billion in the first nine months of 2024, primarily for the acquisition of Hostess Brands[196]. - Cash provided by financing activities included proceeds from long-term debt of $4.3 billion to partially finance the acquisition of Hostess Brands[197]. - Total debt increased to $8,539.1 million as of January 31, 2024, compared to $4,314.2 million on April 30, 2023[209]. - The company entered into a $800.0 million Term Loan in September 2023, with an interest rate of 6.69% as of January 31, 2024[209]. - The company completed a $3.5 billion Senior Notes offering in October 2023 to partially finance the acquisition of Hostess Brands[211]. Tax and Interest Expenses - Net interest expense increased by $61.9 million in the third quarter of 2024, primarily due to new Senior Notes and Term Loan issued to finance the Hostess Brands acquisition[172]. - Income taxes increased by $24.4 million, or 15%, in the first nine months of 2024, primarily due to a higher effective income tax rate of 27.0% compared to 23.9% in the prior year[173]. Market Conditions and Risks - The company anticipates continued inflationary pressures and elevated price elasticity of demand throughout 2024, impacting overall business performance[155]. - Supply chain disruptions and inflation remain uncertain, with potential adverse impacts on results of operations during the remainder of 2024[157]. - The company anticipates that the acquisition of Hostess Brands will provide synergies and cost savings, although realization of these benefits is uncertain[245]. Other Financial Information - The company recognized total direct costs of approximately $120.0 million related to the Jif peanut butter product recall, net of insurance recoveries[203]. - As of January 31, 2024, $421.3 million of outstanding payment obligations were elected and sold to a financial institution by participating suppliers[198]. - The company has accrued losses for certain contingent liabilities that are probable and reasonably estimable as of January 31, 2024[200]. - The company is in compliance with all debt covenants as of January 31, 2024, and expects to remain compliant for the next 12 months[213]. - Revenues from customers outside the U.S. represented 6% of net sales during the nine months ended January 31, 2024[242].

The J. M. Smucker Company (NYSE:SJM) Q3 2024 Earnings Conference Call February 27, 2024 7:00 AM ET Company Participants Aaron Broholm - Vice President, Investor Relations Mark Smucker - Chair of the Board, President and Chief Executive Officer Tucker Marshall - Chief Financial Officer Aaron Broholm Good morning, this is Aaron Broholm, Vice President, Investor Relations for The J. M. Smucker Company. Thank you for listening to our prepared remarks on our fiscal 2024 third quarter earnings. After this brief i ...

FISCAL 2024 THIRD QUARTER RESULTS • Net sales increased 1% Comparable net sales increased 6% (excl. acquisition, divestitures, & foreign currency exchange) • Updated full-year fiscal 2024 financial outlook CONSOLIDATED RESULTS 3 Note: Amounts may not add due to rounding THE J.M. SMUCKER Co EXECUTIVE SUMMARY • Free cash flow was $249.6 million, compared to $442.7 million in the prior year FY24 Q3 RESULTS SUPPLEMENT FY24 Q3 RESULTS SUPPLEMENT Reported Net Sales Analysis ($ in millions) FY24 Q3 RESULTS SUPPLEM ...

The J.M. Smucker Co. Announces Fiscal 2024 Third Quarter Results ORRVILLE, Ohio, Feb. 27, 2024 /PRNewswire/ -- The J.M. Smucker Co. (NYSE: SJM) today announced results for the third quarter ended January 31, 2024, of its 2024 fiscal year. Financial results for the third quarter of fiscal year 2024 reflect the divestiture of the Canada condiment business on January 2, 2024, acquisition of Hostess Brands, Inc. ("Hostess Brands") on November 7, 2023, divestiture of the Sahale Snacks business on November 1, 202 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: October 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-5111 _________ ...

The J.M. Smucker Co. (NYSE:SJM) Q2 2024 Earnings Conference Call December 5, 2023 9:00 AM ET Company Participants Aaron Broholm - Vice President of Investor Relations Tucker Marshall - Chief Financial Officer Mark Smucker - Chair of the Board, President & Chief Executive Officer Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JP Morgan Robert Moskow - TD Cowen Peter Galbo - Bank of America Matt Smith - Stifel Jason English - Goldman Sachs Rob Dickerson - Jefferies Operator Good morning an ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: July 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-5111 ____________ ...

The J.M. Smucker Co. (NYSE:SJM) Q1 2024 Results Conference Call August 29, 2023 9:00 AM ET Company Participants Aaron Broholm - VP, IR Mark Smucker - Chair of the Board, President and CEO Tucker Marshall - CFO Conference Call Participants Andrew Lazar - Barclays Peter Galbo - Bank of America Ken Goldman - JP Morgan Matt Smith - Stifel Pamela Kaufman - Morgan Stanley Rob Dickerson - Jefferies Jason English - Goldman Sachs Max Gumport - BNP Paribas Steve Powers - Deutsche Bank Robert Moskow - TD Cowen Operato ...