Smucker Q3: $150M impairment drives GAAP EPS to $0.64; adjusted EPS $2.33, comparable sales +4%

J M SMUCKER Co

2022-Q3 EPS reported $3.96 revenue$5,965,100,000

GAAP EPS $0.64 (down 72%) on $150.4M noncash impairment of Rachael Ray Nutrish brand intangible.
Adjusted EPS $2.33 (down 5%); net sales $2,057M (-1%); comparable sales ex-divestitures/FX +4%.
U.S. Retail Pet Foods segment profit fell 29% to $95.7M; Coffee +1% to $213.4M; Consumer Foods -10%.
Full-year adjusted EPS guidance narrowed to $8.35-$8.65 (from $8.35-$8.75); free cash flow outlook $700M reaffirmed.
Net debt repayments $226.1M in quarter; completed divestitures of private label dry pet food and natural beverage/grains.

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