Smucker Q3 adj EPS $2.21 (-5% YoY); narrows FY23 sales guidance, reaffirms free cash flow

J M SMUCKER Co

2023-Q3 EPS reported $4.77 revenue$6,294,400,000

Net sales $2,216M (+8% YoY); comparable sales +11% on price increases; GAAP EPS $1.95, adj EPS $2.21 (-5%).
Updated FY23 outlook: net sales growth ~6% (prev 5.5%-6.5%); adj EPS $8.55-$8.75 (prev $8.35-$8.75); FCF $550M.
Jif peanut butter recall estimated to reduce FY23 adj EPS by $0.80 and net sales by ~2%.
U.S. Retail Coffee segment profit -4% on volume/mix decline; Pet Foods profit +14% on pricing.
Cash from ops $584.6M (+33%); free cash flow $442.7M; net debt repayments $303.4M in quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

J M SMUCKER Co reported the third quarter ended January 31, 2023 results: revenue $2,216.3, net income $1.95, EPS $2.21.

Period: the third quarter ended January 31, 2023
Revenue: $2,216.3
Net income: $1.95
EPS: $2.21
Result: reported results

Exact text from the filing

potential.” THIRD QUARTER CONSOLIDATED RESULTS Three Months Ended January 31, 2023 2022 % Increase (Decrease) (Dollars and shares in millions, except per share data) Net sales $2,216.3 $2,057.1 8 % Operating income $317.9 $150.6 111 % Adjusted operating income 357.6 377.9 (5) % Net income per common share – assuming dilution $1.95 $0.64 n/m Adjusted earnings per

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Source: SEC EDGAR

accession 0000091419-23-000019

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