J.M Smucker Full-Year 2024
The J.M. Smucker Co. today announced results for the fourth quarter of its fiscal year ending April 30, 2024. Financial results for the fourth quarter and fiscal year reflect the divestiture of the Canada condiment business on January 2, 2024, the acquisition of Hostess Brands, Inc. (“Hostess Brands”) on November 7, 2023, the divestiture of the Sahale Snacks business on November 1, 2023, and divestiture of certain pet food brands on April 28, 2023. All comparisons are to the fourth quarter of the prior fiscal year, unless otherwise noted.
Highlights
- Net sales for the quarter were $2.2 billion, a decrease of $29.1 million, or 1 percent. Net sales for the quarter excluding the acquisition, divestitures, and foreign currency exchange increased 3 percent.
- For the fiscal year, net sales were $8.2 billion, a decrease of 4 percent.
- Net sales excluding the acquisition, divestitures, and foreign currency exchange increased by 8 percent. Net income per diluted share for the quarter was $2.30. Adjusted earnings per share was $2.66, an increase of 1 percent.
- For the fiscal year, net income per diluted share was $7.13. Adjusted earnings per share was $9.94, an increase of 11 percent.
- Cash provided by operations for the quarter was $428.1 million compared to $443.8 million in the prior year. Free cash ow was $297.5 million for the quarter and $642.9 million for the fiscal year.
- Return of cash to shareholders through dividends was $112.0 million for the quarter and $437.5 million for the fiscal year.
- The Company provided its fiscal year 2025 outlook, with net sales expected to increase 9.5 to 10.5 percent, adjusted earnings per share to range from $9.80 to $10.20, and free cash ow of $900.0 million.
