J.M. Smucker Co. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>J.M. Smucker Co. filed its Q3 2024 10-Q report on February 27, 2024, detailing financial performance for the period ending January 31, 2024.</b>

AI Summary

J M SMUCKER Co (SJM) filed a Quarterly Report (10-Q) with the SEC on February 27, 2024. The J.M. Smucker Co. filed a 10-Q report for the period ending January 31, 2024. The filing covers the third quarter of their fiscal year. The company's fiscal year ends on April 30th. The filing was made on February 27, 2024. The company is incorporated in Ohio.

Why It Matters

For investors and stakeholders tracking J M SMUCKER Co, this filing contains several important signals. This 10-Q filing provides crucial insights into the company's financial health and operational performance during the third quarter of its fiscal year. Investors and analysts can use this report to assess trends, evaluate management's strategies, and make informed investment decisions regarding J.M. Smucker Co.

Risk Assessment

Risk Level: medium — J M SMUCKER Co shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, the absence of specific financial performance data within the provided text limits a deeper risk assessment.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to understand the company's performance and outlook.

Key Numbers

• 20240131 — Period of Report (CONFORMED PERIOD OF REPORT)
• 20240227 — Filed As Of Date (FILED AS OF DATE)
• 0430 — Fiscal Year End (FISCAL YEAR END)
• 2024 — Fiscal Quarter (2024 Q3)

Key Players & Entities

• J M SMUCKER Co (company) — FILER
• OH (location) — STATE OF INCORPORATION
• 20240131 (date) — CONFORMED PERIOD OF REPORT
• 20240227 (date) — FILED AS OF DATE
• ORRVILLE (location) — BUSINESS ADDRESS CITY
• OH (location) — BUSINESS ADDRESS STATE
• 44667 (postal_code) — BUSINESS ADDRESS ZIP
• 3306823000 (phone_number) — BUSINESS PHONE

FAQ

Key Dates

• 2024-01-31: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-02-27: Filing Date — Date the 10-Q report was officially submitted to the SEC.
• 2024-04-30: Fiscal Year End — Indicates the end of the company's annual fiscal cycle.

Filing Documents

• sjm-20240131.htm (10-Q) — 1864KB
• sjm20240131-10qex311.htm (EX-31.1) — 10KB
• sjm20240131-10qex312.htm (EX-31.2) — 10KB
• sjm20240131-10qex32.htm (EX-32) — 7KB
• 0000091419-24-000010.txt (&nbsp;) — 10742KB
• sjm-20240131.xsd (EX-101.SCH) — 66KB
• sjm-20240131_cal.xml (EX-101.CAL) — 100KB
• sjm-20240131_def.xml (EX-101.DEF) — 390KB
• sjm-20240131_lab.xml (EX-101.LAB) — 834KB
• sjm-20240131_pre.xml (EX-101.PRE) — 589KB
• sjm-20240131_htm.xml (XML) — 1993KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Statements of Consolidated Income 2 Condensed Statements of Consolidated Comprehensive Income 2 Condensed Consolidated Balance Sheets 3 Condensed Statements of Consolidated Cash Flows 4 Condensed Statements of Consolidated Shareholders' Equity 5 Notes to Unaudited Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 42

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45

Other Information

Item 5. Other Information 45

Exhibits

Item 6. Exhibits 45

SIGNATURES

SIGNATURES 46 INDEX OF EXHIBITS 47 1 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. THE J. M. SMUCKER COMPANY CONDENSED STATEMENTS OF CONSOLIDATED INCOME (Unaudited) Three Months Ended January 31, Nine Months Ended January 31, Dollars in millions, except per share data 2024 2023 2024 2023 Net sales $ 2,229.2 $ 2,216.3 $ 5,973.0 $ 6,294.4 Cost of products sold (A) 1,406.1 1,460.5 3,770.9 4,285.0 Gross Profit 823.1 755.8 2,202.1 2,009.4 Selling, distribution, and administrative expenses 374.2 380.9 1,021.3 1,079.0 Amortization 55.7 55.6 135.1 166.8 Other special project costs (A) 98.9 0.6 105.7 2.7 Other operating expense (income) – net ( 3.1 ) 0.8 40.2 ( 30.1 ) Operating Income 297.4 317.9 899.8 791.0 Interest expense – net ( 99.8 ) ( 37.9 ) ( 167.0 ) ( 116.7 ) Other debt costs (A) — — ( 19.5 ) — Other income (expense) – net (A) ( 2.1 ) ( 4.6 ) ( 30.0 ) ( 4.9 ) Income Before Income Taxes 195.5 275.4 683.3 669.4 Income tax expense 75.1 66.9 184.4 160.0 Net Income $ 120.4 $ 208.5 $ 498.9 $ 509.4 Earnings per common share: Net Income $ 1.14 $ 1.96 $ 4.82 $ 4.78 Net Income – Assuming Dilution $ 1.13 $ 1.95 $ 4.81 $ 4.77 (A) Includes certain divestiture, acquisition, integration, and restructuring costs ("special project costs"). For more information, see Note 5: Special Project Costs, Note 6: Reportable Segments, and Note 9: Debt and Financing Arrangements. See notes to unaudited condensed consolidated financial statements. THE J. M. SMUCKER COMPANY CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (Unaudited) Three Months Ended January 31, Nine Months Ended January 31, Dollars in millions 2024 2023 2024 2023 Net income $ 120.4 $ 208.5 $ 498.9 $ 509.4 Other comprehensive income (loss): Foreign currency translation adjustments 9.0 6.5 2.4 ( 8.5 ) Cash flow hedging derivative activity, net of tax 3.0 2.7 8.2 7.8 Pension and other postretirement benefit plans activity, net of tax 0.5 0.6 1.0 1.5 Available-for-sale securities activity, net of tax 0.6 0.3 0.2 ( 0.6 ) Total Oth

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View this 10-Q filing on SEC EDGAR