Smucker Q1 adj EPS $2.21 beats prior year $1.67; raises FY EPS guidance to $9.45-$9.85

J M SMUCKER Co

2024-Q1 EPS reported $1.79 revenue$1,805,200,000

Net sales $1,805.2M, down 4% (up 21% excl. divestiture and FX); adjusted EPS $2.21, up 32% YoY.
U.S. Retail Consumer Foods net sales up 49% ($464M) driven by Jif recall lapping and Uncrustables growth.
U.S. Retail Pet Foods comparable net sales up 22% despite divestiture; segment profit down $39M due to prior year divested brands.
Full-year FY24 adj EPS guidance raised to $9.45-$9.85 from $9.20-$9.60; free cash flow reaffirmed at $650M.
Repurchased 2.4M shares for $372M in Q1; free cash flow $67.6M vs -$127.3M prior year.

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 0.85

J M SMUCKER Co reported first quarter ended July 31, 2023 results: revenue $1,805.2, net income $1.79, EPS $1.79. Guidance raised.

Period: first quarter ended July 31, 2023
Revenue: $1,805.2
Net income: $1.79
EPS: $1.79
Guidance: raised
Result: reported results

Exact text from the filing

value." FIRST QUARTER CONSOLIDATED RESULTS Three Months Ended July 31, 2023 2022 % Increase (Decrease) (Dollars and shares in millions, except per share data) Net sales $1,805.2 $1,873.0 (4) % Operating income $303.5 $179.7 69 % Adjusted operating income 331.7 270.0 23 % Net income per common share – assuming dilution $1.79 $1.03 74 % Adjusted earnings

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Source: SEC EDGAR

accession 0000091419-23-000111

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