J.M. Smucker Files Q2 2024 10-Q
Ticker: SJM · Form: 10-Q · Filed: Aug 28, 2024 · CIK: 91419
| Field | Detail |
|---|---|
| Company | J M Smucker Co (SJM) |
| Form Type | 10-Q |
| Filed Date | Aug 28, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Smucker's 10-Q is in! Get the latest on their financials.
AI Summary
The J.M. Smucker Co. filed its 10-Q for the period ending July 31, 2024. The company reported its financial performance and position, with key figures related to its assets, liabilities, and equity. The filing provides an update on the company's ongoing operations and financial health.
Why It Matters
This filing provides investors with the latest financial snapshot of The J.M. Smucker Co., crucial for understanding its performance and making informed investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard for public companies, but the specific financial details within can reveal risks or opportunities.
Key Numbers
- 20240731 — Fiscal Period End (Reporting period for the 10-Q filing.)
- 20240828 — Filing Date (Date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- J M Smucker Co (company) — Filer
- 20240731 (date) — Period of Report
- 20240828 (date) — Filing Date
- OH (location) — State of Incorporation
- 3306823000 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is July 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 28, 2024.
What is the company's Standard Industrial Classification (SIC) code?
The company's SIC code is 2033, which corresponds to Canned, Fruits, Veg & Preserves, Jams & Jellies.
In which state was The J.M. Smucker Co. incorporated?
The J.M. Smucker Co. was incorporated in Ohio (OH).
What is the business phone number listed for The J.M. Smucker Co.?
The business phone number listed is 3306823000.
Filing Stats: 4,501 words · 18 min read · ~15 pages · Grade level 8.9 · Accepted 2024-08-28 16:16:24
Filing Documents
- sjm-20240731.htm (10-Q) — 1304KB
- sjm20240731-10qex101.htm (EX-10.1) — 86KB
- sjm20240731-10qex102.htm (EX-10.2) — 101KB
- sjm20240731-10qex311.htm (EX-31.1) — 10KB
- sjm20240731-10qex312.htm (EX-31.2) — 10KB
- sjm20240731-10qex32.htm (EX-32) — 7KB
- 0000091419-24-000077.txt ( ) — 8644KB
- sjm-20240731.xsd (EX-101.SCH) — 58KB
- sjm-20240731_cal.xml (EX-101.CAL) — 88KB
- sjm-20240731_def.xml (EX-101.DEF) — 309KB
- sjm-20240731_lab.xml (EX-101.LAB) — 756KB
- sjm-20240731_pre.xml (EX-101.PRE) — 529KB
- sjm-20240731_htm.xml (XML) — 1351KB
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 6
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 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 32
Controls and Procedures
Item 4. Controls and Procedures 34
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 35
Risk Factors
Item 1A. Risk Factors 35
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35
Other Information
Item 5. Other Information 35
Exhibits
Item 6. Exhibits 35
SIGNATURES
SIGNATURES 36 INDEX OF EXHIBITS 37 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 July 31, Dollars in millions, except per share data 2024 2023 Net sales $ 2,125.1 $ 1,805.2 Cost of products sold (A) 1,327.9 1,150.4 Gross Profit 797.2 654.8 Selling, distribution, and administrative expenses 390.1 313.6 Amortization 56.0 39.8 Other special project costs (A) 7.1 — Other operating expense (income) – net ( 5.5 ) ( 2.1 ) Operating Income 349.5 303.5 Interest expense – net ( 100.4 ) ( 32.1 ) Other income (expense) – net ( 3.1 ) ( 33.0 ) Income Before Income Taxes 246.0 238.4 Income tax expense 61.0 54.8 Net Income $ 185.0 $ 183.6 Earnings per common share: Net Income $ 1.74 $ 1.79 Net Income – Assuming Dilution $ 1.74 $ 1.79 (A) Includes certain divestiture, acquisition, integration, and restructuring costs ("special project costs"). For more information, see Note 5: Special Project Costs and Note 6: Reportable Segments. See notes to unaudited condensed consolidated financial statements. THE J. M. SMUCKER COMPANY CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (Unaudited) Three Months Ended July 31, Dollars in millions 2024 2023 Net income $ 185.0 $ 183.6 Other comprehensive income (loss): Foreign currency translation adjustments ( 0.6 ) 7.4 Cash flow hedging derivative activity, net of tax 2.6 2.6 Pension and other postretirement benefit plans activity, net of tax 0.4 0.4 Available-for-sale securities activity, net of tax — ( 0.2 ) Total Other Comprehensive Income 2.4 10.2 Comprehensive Income $ 187.4 $ 193.8 See notes to unaudited condensed consolidated financial statements. 2 Table of Contents THE J. M. SMUCKER COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) Dollars in millions July 31, 2024 April 30, 2024 ASSETS Current Assets Cash and cash equivalents $ 39.5 $ 62.0 Trade receivables – net 734.9 736.5 Inventories: Finished products 666.1 639