secwatch.observer — SEC 8-K summary
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Issuer:     J M SMUCKER Co (SJM)
CIK:        0000091419
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0000091419-23-000019
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91419/000009141923000019/0000091419-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91419/000009141923000019/sjm-20230228.htm
  HTML page:      https://secwatch.observer/filing/0000091419-23-000019

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