Smucker Q2 net sales +8% to $2.205B; raises FY23 adj EPS and sales guidance

J M SMUCKER Co

2023-Q2 EPS reported $2.82 revenue$4,078,100,000

Net sales $2.205B, +8% YoY; organic sales +11%; GAAP EPS $1.79, adj EPS $2.40 (-1%).
Raises FY23 adj EPS outlook to $8.35-$8.75 (prior $8.20-$8.60), net sales growth to 5.5-6.5%.
Jif peanut butter recall estimated to reduce FY23 net sales by ~2% and EPS by ~$0.80.
U.S. Retail Coffee revenue +10% but segment profit -10%; Pet Foods revenue +9%, profit +21%.
Free cash flow guidance unchanged at ~$550M; capex $550M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

J M SMUCKER Co reported Three Months Ended October 31, 2022 results: revenue $2,205.1, EPS $1.79.

Period: Three Months Ended October 31, 2022
Revenue: $2,205.1
EPS: $1.79
Result: reported results

Exact text from the filing

Three Months Ended October 31, 2022 2021 % Increase (Decrease) (Dollars and shares in millions, except per share data) Net sales $2,205.1 $2,050.0 8 % Operating income $293.4 $311.8 (6) % Adjusted operating income 379.6 387.9 (2) % Net income per common share – assuming dilution $1.79 $1.90 (6) %

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

J M SMUCKER Co reported full-year fiscal 2023 results: revenue 5.5% - 6.5%, EPS $8.35 - $8.75. Guidance raised.

Period: full-year fiscal 2023
Revenue: 5.5% - 6.5%
EPS: $8.35 - $8.75
Guidance: raised
Result: guidance update

Exact text from the filing

The Company updated its full-year fiscal 2023 guidance as summarized below: Current Previous Net sales increase vs prior year 5.5% - 6.5% 4.0% - 5.0% Adjusted earnings per share $8.35 - $8.75 $8.20 - $8.60

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Source: SEC EDGAR

accession 0000091419-22-000138

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