The J.m. Smucker Company · NYSE:SJM

The J.m. Smucker — Q1 2022 Earnings Presentation

14 slides from The J.m. Smucker's earnings presentation, Aug 26, 2021

  1. Slide 1: First Quarter Fiscal 2022 Earnings Supplementary Information

    First Quarter Fiscal 2022 SUPPLEMENTARY INFORMATION Earnings August 26, 2021

  2. Slide 2: Consolidated Results

    Consolidated Results ($ in millions, except per share data) FY22 Q1 FY21 Q1 YoY Change Net Sales $1,858.0 $1,971.8 (6%) Adjusted Gross Profit $646.2 $759.2 (15%) Adjusted Gross Profit Margin 34.8% 38.5% -370bps Adjusted Operating Income $323.4 $404.5 (20%) Adjusted Operating Income Margin 17.4% 20.5

  3. Slide 3: Consolidated Results: Net Sales Analysis

    Consolidated Results Net Sales Analysis $6M $5M $10M ($136M) $1,972M $1,858M YoY Change 0% 0% 1% (7%) Note: Amounts may not add due to rounding FY22 Q1 EARNINGS SUPPLEMENT 3

  4. Slide 4: Consolidated Results: Balance Sheet/Cash Flow Highlights

    Consolidated Results Balance Sheet/Cash Flow Highlights ($ in millions) FY22 Q1 FY21 Q1 Cash from Operations $137.8 $409.0 Capital Expenditures (68.0) (76.6) Free Cash Flow $69.8 $332.4 July 31, 2021 April 30, 2021 Total Debt (Gross) $4,635.1 $4,751.7 EBITDA (as adjusted, TTM) $1,694.1 $1,805.3 Gros

  5. Slide 5: Segment Results: FY22 Q1

    Segment Results: FY22 Q1 PET CONSUMER COFFEE INT’L & AFH FOODS FOODS ($ in millions) Net Sales $648.0 $543.2 $435.6 $231.2 YoY Change (6%) (5%) (11%) 6% YoY Net Sales Change Summary: Acquisition/Divestiture (8%) - (15%) (4%) Foreign Currency Exchange - - - 5% Net Sales Excluding Divestitures and For

  6. Slide 6: Full-Year Fiscal 2022 Outlook

    Full-Year Fiscal 2022 Outlook Current Previous Net Sales (2.5%) - (1.5%) (3%) - (2%) Adjusted EPS – Assuming Dilution $8.25 - $8.65 $8.70 - $9.10 Free Cash Flow (in millions) $800 $900 Capital Expenditures (in millions) $380 $380 Adjusted Effective Income Tax Rate 24.0% 24.0% FY22 Q1 EARNINGS SUPPLE

  7. Slide 7: Forward-Looking Statements

    Forward-Looking Statements This presentation contains forward-looking statements, such as projected net sales, operating results, earnings, and cash flows that are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by thos

  8. Slide 8: Non-GAAP Financial Measures

    Non-GAAP Financial Measures The Company uses non-GAAP financial measures, including: net sales excluding divestitures and foreign currency exchange; adjusted gross profit; adjusted operating income; adjusted income; adjusted earnings per share; earnings before interest, taxes, depreciation, amortiza

  9. Slide 9: Unaudited Non-GAAP Financial Measures

    Unaudited Non-GAAP Financial Measures ($ in millions) Three Months Ended July 31, 2021 2020 Gross profit reconciliation: Gross profit $639.4 $775.4 Change in net cumulative unallocated derivative gains and losses 2.2 (16.2) Cost of products sold – special project costs 4.6 - Adjusted gross profit $6

  10. Slide 10: Unaudited Non-GAAP Financial Measures

    Unaudited Non-GAAP Financial Measures ($ and shares in millions, except per share data) Three Months Ended July 31, 2021 2020 Net income reconciliation: Net income $153.9 $237.0 Income tax expense 51.3 76.6 Amortization 55.4 59.6 Change in net cumulative unallocated derivative gains and losses 2.2 (

  11. Slide 11: Unaudited Non-GAAP Financial Measures

    Unaudited Non-GAAP Financial Measures ($ in millions) Three Months Ended TTM Ended Year Ended October 31, January 31, April 30, July 31, July 31, April 30, 2020 2021 2021 2021 2021 2021 EBITDA (as adjusted) reconciliation: Net income $230.8 $261.5 $147.0 $153.9 $793.2 $876.3 Income tax expense 72.7

  12. Slide 12: Non-GAAP Reconciliation: Company Guidance

    Non-GAAP Reconciliation Company Guidance Year Ending April 30, 2022 Low High Net income per common share – assuming dilution reconciliation: Net income per common share – assuming dilution $ 6.07 $ 6.47 Change in net cumulative unallocated derivative gains and losses (A) 0.43 0.43 Amortization 1.54

  13. Slide 13: Non-GAAP Reconciliation: Company Guidance

    Non-GAAP Reconciliation Company Guidance ($ in millions) Year Ending April 30, 2022 Free cash flow reconciliation: Net cash provided by operating activities $ 1,180 Additions to property, plant, and equipment (380) Free cash flow $ 800 FY22 Q1 EARNINGS SUPPLEMENT 13

  14. Slide 14: Additional Information

    Additional Information: Aaron Broholm Vice President, Investor Relations aaron.broholm@jmsmucker.com Phone: (330) 682-3000 Investor Relations Website: https://investors.jmsmucker.com/ 14

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