https://assets.capyfin.com/instruments/678fdc13234e27009c5d5906.png avatar
Smucker
🇺🇸 NYSE:SJM
View Company
OverviewEarningsDividends
•
Apr 30, 2021

Smucker Q4 2021 Earnings Report

Smucker's Q4 2021 earnings reflect a decrease in net sales due to lapping consumer stock-up purchasing resulting from the COVID-19 pandemic, partially offset by continued elevated at-home consumption.

Key Takeaways

The J.M. Smucker Co. announced its Q4 2021 results, with net sales decreasing by 8% and adjusted earnings per share decreasing by 26%. However, the company exceeded expectations for net sales, adjusted earnings per share, and free cash flow, driven by sustained elevated demand for at-home food and coffee consumption.

Net sales decreased by 8%, but excluding divestitures and foreign currency exchange, net sales decreased by 3%.

Net income per diluted share for the quarter was $1.35, while adjusted earnings per share was $1.89, a decrease of 26%.

Cash from operations was $291.0 million, and free cash flow was $183.0 million.

The Company provided its fiscal 2022 outlook, with an expected net sales decrease of 2 to 3 percent, adjusted earnings per share to range from $8.70 to $9.10, and free cash flow of $900 million.

Total Revenue
$1.92B
Previous year: $2.09B
-8.2%
EPS
$1.89
Previous year: $2.57
-26.5%
Pet Foods Profit Margin
15.1%
Previous year: 19.5%
-22.6%
Coffee Profit Margin
29.8%
Previous year: 32.7%
-8.9%
Consumer Foods Profit Margin
22.6%
Previous year: 27.7%
-18.4%
Gross Profit
$736M
Previous year: $788M
-6.7%
Cash and Equivalents
$334M
Previous year: $391M
-14.5%
Free Cash Flow
$183M
Previous year: $211M
-13.4%
Total Assets
$16.3B
Previous year: $17B
-4.0%

Smucker

Smucker

Smucker Revenue by Segment

Forward Guidance

The Company provided its full-year fiscal 2022 guidance with an expected net sales decrease of 2 to 3 percent, adjusted earnings per share to range from $8.70 to $9.10, and free cash flow of $900 million.

Positive Outlook

  • Focus on managing elements it can control.
  • Taking necessary steps to minimize the impact of cost inflation and any business disruption.
  • Net sales are expected to increase approximately 2 percent at the mid-point of the net sales guidance range on a comparable basis.
  • Continued double-digit net sales growth for the Smucker's® Uncrustables® brand.
  • A recovery in away from home channels.

Challenges Ahead

  • The pandemic and related implications continue to impact financial results and cause uncertainty and risk.
  • Cost inflation continues to impact financial results and cause uncertainty and risk.
  • Volatility in supply chains continues to impact financial results and cause uncertainty and risk.
  • A deceleration in at-home consumption trends.
  • Adjusted gross profit margin to range from 37.0 to 37.5 percent.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Smucker