J M Smucker Stock Price, News & Analysis

Hostess® has unveiled a comprehensive brand refresh, featuring a new logo and packaging design. The iconic sweet snacks maker's updated logo maintains its trademark heart while introducing a playful font style, brighter colors, and a cloud-shaped border symbolizing the light, airy quality of their products.

The refreshed packaging includes stylized typography, new product photography, and enhanced product descriptions. Consumer testing showed the new design is preferred 2:1 over the previous presentation, improving perceptions of taste and modernity. The refresh encompasses popular products like Twinkies®, Donettes®, Cupcakes, and Ding Dongs®.

This visual update is part of a broader brand strategy, with a new advertising campaign planned for the upcoming year. The development process involved extensive consumer testing and collaboration with industry partners to ensure the refresh resonates with both new and existing customers while maintaining the brand's core values.

J.M. Smucker (NYSE: SJM) hosted its 2024 Investor Day to showcase its strategic transformation and growth potential. The company highlighted that its core business, representing ~85% of net sales, is delivering strong growth. Key focus areas include the Hostess® brand's growth revival and leveraging world-class marketing, commercial, and manufacturing capabilities.

Management presented strategies for key brands including Café Bustelo® (fastest-growing at-home coffee brand), Uncrustables® (targeting $1 billion in sales), and the iconic Jif® and Smucker's® brands. The company emphasized its commitment to delivering its long-term financial algorithm, including a goal of over $1 billion in annual free cash flow.

The J. M. Smucker Company (NYSE: SJM) has announced cash tender offers for up to $300 million aggregate purchase price of its outstanding senior notes. The offers cover five series of notes with varying interest rates and maturities, ranging from 2.125% to 5.900%. Notes will be accepted based on priority levels, with earlier tendered notes having preference.

Holders who tender by December 16, 2024 (Early Tender Time) will receive the Total Consideration, including a $30 per $1,000 Early Tender Premium. The offers expire on January 2, 2025. Early settlement is expected on December 19, 2024, with final settlement on January 6, 2025. Goldman Sachs and J.P. Morgan are serving as Dealer Managers for the offers.

The J.M. Smucker Co. (NYSE: SJM) has completed the divestiture of its Voortman® business to Second Nature Brands for approximately $305 million in cash. The transaction includes all Voortman® trademarks, a leased manufacturing facility in Burlington, Ontario, and the transition of about 300 employees. Following this, SJM updated its fiscal 2025 net sales guidance, projecting a 7.5 to 8.5 percent increase compared to the prior year, accounting for the removal of approximately $65 million in divested net sales. On a comparable basis, excluding acquisitions and divestitures, net sales are expected to increase 1.0 to 2.0 percent.

J.M. Smucker Co. reported Q2 FY2025 results with net sales of $2.3 billion, up 17% year-over-year. The company posted a net loss per diluted share of $0.23, while adjusted earnings per share increased 7% to $2.76. Cash from operations improved to $404.2 million from $176.9 million last year. Results reflect the Hostess Brands acquisition, divestiture of Canada condiment business, and Sahale Snacks business. Organic net sales grew 2%, driven by strength in Uncrustables®, Meow Mix®, Café Bustelo®, and Jif® brands. The company updated its FY2025 outlook, projecting net sales growth of 8.5-9.5% and adjusted EPS of $9.70-$10.10.

The J.M. Smucker Co. (NYSE: SJM) celebrated the opening of its new 900,000-square-foot Uncrustables® manufacturing facility in McCalla, Alabama. The facility will increase production capacity for the Uncrustables brand, which has grown from a $12 million brand to approximately $800 million in annual net sales last fiscal year. The company aims to reach $1 billion in annual net sales by fiscal year 2026.

This facility joins existing manufacturing locations in Scottsville, Kentucky, and Longmont, Colorado. The McCalla team has established partnerships with local organizations including Best Buddies in Alabama, Community Foodbank of Central Alabama, and United Way of West Alabama.

The J.M. Smucker Co. (NYSE: SJM) has announced two upcoming investor events. The company will release its second quarter fiscal 2025 financial results on November 26, 2024, at 7:00 a.m. EST, followed by a live Q&A session with CEO Mark Smucker and CFO Tucker Marshall at 9:00 a.m. EST. Additionally, SJM will host its 2024 Investor Day on December 10, 2024, at 8:45 a.m. EST in New York City. While in-person attendance is invitation-only, both events will be available via live webcast on the company's investor relations website.

J.M. Smucker (NYSE: SJM) has announced that its Board of Directors has approved a dividend of $1.08 per share on the company's common shares. The dividend will be distributed on December 2, 2024, to shareholders who are on record as of November 15, 2024.

The J.M. Smucker Co. (NYSE: SJM) has announced an agreement to sell its Voortman® cookie brand to Second Nature Brands for approximately $305 million in cash. This divestiture is part of Smucker's strategy to optimize its portfolio and focus on core growth brands. The deal includes all Voortman® trademarks, a leased manufacturing facility in Burlington, Ontario, and the transition of about 300 employees.

The company expects the sale to be dilutive to adjusted earnings per share by approximately $0.25 on a full-year basis. However, using the proceeds to pay down debt is anticipated to contribute an EPS benefit of about $0.10. The transaction is expected to close in the third quarter of Smucker's fiscal year 2025, subject to regulatory approvals.

Smucker also confirmed progress on the Hostess Brands integration, including completed systems integration, and remains on track to achieve $100 million in synergies by the end of fiscal year 2026.