J M Smucker - SJM STOCK NEWS

The J.M. Smucker Co. (SJM) reported a 4% increase in net sales to $2.034 billion for Q2 of fiscal 2021, primarily driven by growth in the U.S. Retail Consumer Foods and Coffee segments.

Net income per diluted share rose to $2.02, with adjusted EPS increasing by 6% to $2.39. Cash from operations surged 69% to $378.7 million, while free cash flow grew to $326.3 million.

For fiscal 2021, the company raised its net sales guidance to a 1-2% increase and adjusted EPS to $8.55-$8.85, reflecting strong at-home consumption trends.

The J.M. Smucker Co. (SJM) announced its second quarter fiscal 2021 earnings conference call scheduled for November 24, 2020, at 8:30 a.m. EST. CEO Mark Smucker and CFO Tucker Marshall will present. A press release with financial data will be available at 7:00 a.m. EST on the same day. Additionally, a virtual Investor Day is set for December 10, 2020, featuring management presentations and a Q&A session. Both events will be accessible via the company's investor website.

The J.M. Smucker Co. (SJM) has agreed to sell its Crisco^® oils and shortening business to B&G Foods, Inc. for approximately $550 million. This divestiture reflects the company's strategy to exit the U.S. baking category and prioritize pet food, coffee, and snacking sectors. The Crisco brand generated net sales of around $270 million for the fiscal year ending April 30, 2020. The sale is expected to be dilutive to adjusted earnings per share by $0.45 to $0.55 in the full year. The transaction is slated to close in Q3 of fiscal year 2021, subject to customary approvals.

The J.M. Smucker Co. (SJM) announced a $0.90 per share dividend approved by its Board of Directors. This dividend is set to be paid on December 1, 2020, to shareholders recorded by the close of business on November 13, 2020. The company's diverse portfolio includes popular brands such as Folgers and Jif, appealing to a wide range of consumers across the U.S. This move reflects Smucker's commitment to returning value to shareholders while continuing to grow its market presence and brand loyalty.

The J.M. Smucker Co. (NYSE: SJM) announced an updated corporate identity on Sept. 23, 2020, to better reflect its growth from an $800 million jams business to a $7 billion multi-category CPG leader. The new visual identity includes a revamped logo and brand system, aiming to attract talent and enhance awareness of its diverse portfolio, which includes brands like Folgers, Jif, and Milk-Bone. CEO Mark Smucker emphasized the need for a fresh identity to showcase the company's unique appeal and commitments to social impact.

The J. M. Smucker Company (NYSE: SJM) released its 2020 Corporate Impact Report, highlighting progress under its Thriving Together philosophy. The company is on track to exceed its 2020 environmental goals related to water and emissions. Notable achievements include donating over 32 million meals, increasing parental leave from two to twelve weeks, and committing $500,000 to support inclusion and racial justice. Smucker also enhanced its manufacturing to meet demand during the COVID-19 pandemic while maintaining safety records.

The J. M. Smucker Company (SJM) reported a strong first quarter for fiscal 2021, with net sales rising 11% to $1.97 billion, primarily driven by increased at-home consumption in the U.S. Retail Coffee and Consumer Foods segments. Net income per diluted share reached $2.08, while adjusted earnings per share climbed 50% to $2.37. The company generated $409 million in cash from operations, an 85% increase year-over-year. Smucker raised its full-year guidance for net sales, adjusted EPS, and free cash flow, reflecting confidence in ongoing demand amidst the COVID-19 pandemic.

The J. M. Smucker Company (SJM) will host its Q1 2021 earnings call on August 25, 2020, at 8:30 a.m. EDT, with a financial release at 7:00 a.m. EDT. Key executives Mark Smucker and Tucker Marshall will present. Additionally, Smucker will participate in the 2020 Barclays Global Consumer Staples Conference on September 8, 2020, at 12:00 p.m. EDT. Both events will be available via webcast on their investor website, enhancing transparency regarding their financial performance and strategic direction.

The J. M. Smucker Company (SJM) has released its Company Spotlight, showcasing its commitment to business growth and social impact. This collection highlights efforts in various areas including continuous improvement, financial discipline, cat food investments, and sustainability initiatives. CEO Mark Smucker emphasizes the company's achievements during the COVID-19 pandemic, while upcoming financial reports are anticipated. Smucker's portfolio includes popular brands like Folgers and Jif, reflecting its expansive reach in U.S. homes. The full collection is available on their website.