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J.M. Smucker Company (NYSE:SJM) shares are ticking higher after the company reported its fourth-quarter FY24 earnings and provided an outlook for FY25.
The company reported a fourth-quarter FY24 sales decline of 1.3% year-on-year to $2.21 billion, missing the analyst consensus estimate of $2.24 billion.
Net sales for the quarter, excluding the acquisition, divestitures, and foreign currency exchange, increased 3%.
Adjusted EPS of $2.66 beat the analyst consensus estimate of $2.33.
Gross profit increased 15% Y/Y to $913.3 million, and the gross profit margin expanded by 590 basis points to 41.4%.
The company reported an operating income of $406 million with an operating margin of 18.4%.
The company held $62 million in cash and equivalents as of April-end. Operating cash flow for the quarter totaled $428.1 million, and free cash flow was $297.5 million.
The company returned a cash of $112 million to the shareholders through dividends in the quarter.
“Our focus on superior execution and disciplined cost management helped drive our strong results in a dynamic operating environment,” said Board Chair, President and CEO Mark Smucker.
Outlook: J.M. Smucker sees FY25 adjusted EPS of $9.80 – $10.20 versus an estimate of $10.18.
The company sees FY25 comparable net sales growth of 1.5% to 2.5% and net sales growth of 9.5% to 10.5%.
Price Action: SJM shares are trading higher by 2.87% at $113.50 in premarket at the last check Thursday.
Photo by Willis Lam Via Flickr
Posted In: SJM
