J.M. Smucker Q3 Report 2024

The J.M. Smucker Co. announced results for the third quarter ended January 31, 2024, of its 2024 fiscal year. Financial results for the third quarter of fiscal year 2024 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 third quarter of the prior fiscal year unless otherwise noted.

Highlights

• Net sales increased $12.9 million, or 1 percent. Net sales excluding the acquisition, divestitures, and foreign currency exchange increased 6 percent.
• Net income per diluted share was $1.13. Adjusted earnings per share was $2.48, an increase of 12 percent.
• Cash provided by operations was $406.5 million compared to $584.6 million in the prior year. Free cash ow was $249.6 million, compared to $442.7 million in the prior year.
• The Company updated its full-year fiscal 2024 financial outlook.