J.M. Smucker beats Q2 expectations, raises FY2022 guidance; adjusted EPS $2.43, comparable sales +8%

J M SMUCKER Co

2022-Q2 EPS reported $3.32 revenue$3,908,000,000

Net sales $2.05B (+1% reported, +8% excl. divestitures and FX); adjusted EPS $2.43 (+2%) vs $2.39 prior year.
Full-year adjusted EPS guidance raised to $8.35-$8.75 from $8.25-$8.65; net sales outlook improved to (0.5%)-0.5%.
Cash from ops $165.1M (-56%); free cash flow $105.9M vs $326.3M prior year due to working capital timing.
U.S. Retail Coffee net sales +8% to $645.1M; segment profit +3% led by Dunkin' and Café Bustelo brands.
U.S. Retail Consumer Foods net sales -8% reported but +9% excl. Crisco; Uncrustables and Jif drove volume growth.

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