The J.m. Smucker Company · NYSE:SJM
The J.m. Smucker — Q3 2024 Earnings Presentation
8 slides from The J.m. Smucker's earnings presentation, Feb 27, 2024
Slide 1: Fiscal Year 2024 Third Quarter Earnings Prepared Management Remarks
Fiscal Year 2024 Third Quarter Earnings Prepared Management Remarks February 27, 2024 1
Slide 2: Corporate Participants and Opening Remarks
CORPORATE 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, VICE PRESIDENT, INVESTOR RELATIONS Good morning, this is Aaron Broholm, Vice President, Investor Re
Slide 3: Portfolio volume share gains and Coffee segment results
Overall, the strength of our categories and brands supported volume share gains across our portfolio. Brands that are growing or maintaining volume share accounted for 86% of our U.S. Retail sales in the third quarter, up from 34% in the same period a year ago. We also continued to make important pr
Slide 4: Uncrustables growth and Pet Foods results
Total company net sales for Uncrustables® sandwiches grew 6%, driven by over 30% growth in the Away From Home business. Our launch in Canada also continues to exceed our expectations. We continue to expect total company net sales of approximately $800 million for the full fiscal year. Additionally,
Slide 5: Strategic priorities and CFO financial review
Across the portfolio, our third quarter results demonstrate an increased focus and continued progress on our strategic priorities of delivering growth for the core business, integrating and growing the Sweet Baked Snacks business, and achieving our transformation and cost management aspirations. We
Slide 6: U.S. Retail segment results
Turning to our segment results, in the U.S. Retail Coffee segment, net sales decreased 1% versus the prior year. Net price realization reduced net sales by 4 percentage points, primarily driven by a list price decline for the majority of the portfolio. Favorable volume/mix increased net sales by 3 p
Slide 7: Away From Home, International and free cash flow
Net sales for the Away From Home business increased 13% on a comparable basis, led by 33% growth for Uncrustables® sandwiches, and 22% growth for portion control products. Net sales for the International business increased 3% on a comparable basis, primarily driven by Carnation® milk, and Uncrustabl
Slide 8: Fiscal 2024 outlook and guidance
Excluding $0.40 of dilution related to the Hostess acquisition, adjusted earnings per share is anticipated to be $9.95 at the mid-point of the guidance range, an increase of approximately 12% compared to the prior year. This also includes an approximate 7%, or $0.60, headwind related to the net impa
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