J. M. Smucker(US:SJM)2024-06-06 12:09FY24 Q4 Results - Net sales were $2,205.7 million, a decrease of 1% year-over-year compared to $2,234.8 million in FY23 Q4[4] - Adjusted gross profit increased by 15% to $888.4 million, compared to $771.9 million in the same quarter last year[4] - Adjusted operating income increased by 13% to $461.6 million, compared to $408.2 million in the prior year[4] - Adjusted EPS increased by 1% to $2.66, compared to $2.64 in the prior year[4] FY25 Outlook - The company projects FY25 net sales to increase by 9.5% to 10.5%[26] - The company anticipates adjusted EPS to be between $9.80 and $10.20[26] - Free cash flow is projected to be $900 million, with capital expenditures of $450 million[26, 33] Balance Sheet and Cash Flow - Free cash flow was $297.5 million, slightly less than the $298.7 million in the prior year[13, 24] - Total debt (net) was $8,302.0 million as of April 30, 2024, compared to $3,658.4 million as of April 30, 2023[24] - EBITDA (as adjusted, TTM) was $1,704.4 million, compared to $1,592.3 million in the prior year[24] Segment Performance (FY24 Q4) - U S Retail Coffee net sales were $666.1 million, a decrease of 4% year-over-year[25] - U S Retail Frozen Handheld & Spreads net sales were $450.5 million, a decrease of 1% year-over-year[25] - U S Retail Pet Foods net sales were $452.6 million, a decrease of 42% year-over-year[25] - Sweet Baked Snacks net sales were $337.0 million[25] - International & Away From Home net sales were $299.5 million, a decrease of 1% year-over-year[25]