The J.m. Smucker Company · NYSE:SJM
The J.m. Smucker — Q1 2025 Earnings Presentation
11 slides from The J.m. Smucker's earnings presentation, Aug 28, 2024
Slide 1: Fiscal Year 2025 First Quarter Earnings Prepared Management Remarks
Fiscal Year 2025 First Quarter Earnings Prepared Management Remarks August 28, 2024 1
Slide 2: Corporate Participants and Introduction
CORPORATE PARTICIPANTS Crystal Beiting, Vice President, Investor Relations & FP&A Mark Smucker, Chair of the Board, President and Chief Executive Officer Tucker Marshall, Chief Financial Officer CRYSTAL BEITING, VICE PRESIDENT, INVESTOR RELATIONS & FP&A Good morning. This is Crystal Beiting, Vice Pr
Slide 3: Deliver the business: Uncrustables, Pet Foods, Coffee growth
Our first priority, deliver the business, which includes a focus on growing volume, was demonstrated in the first quarter. Total company comparable net sales increased 1%, and when excluding contract manufacturing sales related to the divested pet food brands, net sales increased 3% versus the prior
Slide 4: Sweet Baked Snacks segment results
The Sweet Baked Snacks segment delivered net sales below our expectations in the first quarter, primarily driven by the macroeconomic environment and slowdown in the convenience channel. Consumers continue to be selective in their spending, a trend that is largely driven by inflationary pressures an
Slide 5: Coffee, Frozen Handheld and Spreads results
We expect the coffee category to remain resilient, despite recent inflationary pressures and volume declines, given consumers’ love of daily coffee rituals and continued strength in at-home consumption. 70% of all coffee drinking occasions continue to be at home. This trend largely benefits us as th
Slide 6: Adjusted EPS guidance and strategy
Our adjusted EPS guidance reflects the impact of the revised net sales forecast and higher green coffee prices, partially offset by increased demand for Uncrustables® sandwiches. We continue to focus on managing the elements we can control and remain focused on taking actions that position the Compa
Slide 7: Net interest expense, tax rate and adjusted EPS
Below operating income, net interest expense increased $68 million, primarily due to an increase in interest expense related to the Senior Notes issued to partially finance the acquisition of Hostess Brands and an increase in short-term borrowings under the Company's commercial paper program. The ad
Slide 8: International and Away From Home results
Lastly, in International and Away From Home, net sales decreased 1%. Excluding noncomparable net sales in the prior year related to divestitures and unfavorable foreign currency exchange, net sales increased 8%. Net price realization contributed a 5 percentage point increase to net sales, primarily
Slide 9: Updated net sales and margin guidance
The updated net sales guidance reflects the following changes from our original assumptions: • An ongoing dynamic consumer environment driven by inflationary pressures and diminished discretionary income affecting the dog snacks and sweet baked goods categories; • Higher net price realization, prima
Slide 10: Closing remarks and thank you
And, I would like to express my appreciation for our employees. They have demonstrated their commitment to executing with excellence, and their passion for our Company positions us for continued success. Thank you. 10
Slide 11: Additional Information
Additional Information The J.M. Smucker Co. is the owner of all trademarks referenced herein, except for Dunkin’®. The Dunkin’® brand is trademark of DD IP Holder LLC and licensed to The J.M. Smucker Co. for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers,
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