J. M. Smucker Files Q2 FY25 10-Q

TL;DR

Smucker's 10-Q is in! Get the latest Q2 FY25 numbers.

AI Summary

J. M. Smucker Co. filed its 10-Q for the period ending October 31, 2024. The company, headquartered in Orrville, OH, reported its financial performance for the second quarter of fiscal year 2025. Key financial data and operational details are presented in this filing, which is standard for public companies.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for J. M. Smucker Co., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• 0430 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• J M Smucker Co (company) — Filer
• Orrville, OH (location) — Company Headquarters
• 20241031 (date) — Reporting Period End Date
• 2025 Q2 (period) — Fiscal Quarter

FAQ

Filing Documents

• sjm-20241031.htm (10-Q) — 1678KB
• sjm20241031-10qex311.htm (EX-31.1) — 10KB
• sjm20241031-10qex312.htm (EX-31.2) — 10KB
• sjm20241031-10qex32.htm (EX-32) — 7KB
• 0000091419-24-000103.txt ( ) — 9776KB
• sjm-20241031.xsd (EX-101.SCH) — 61KB
• sjm-20241031_cal.xml (EX-101.CAL) — 101KB
• sjm-20241031_def.xml (EX-101.DEF) — 339KB
• sjm-20241031_lab.xml (EX-101.LAB) — 789KB
• sjm-20241031_pre.xml (EX-101.PRE) — 565KB
• sjm-20241031_htm.xml (XML) — 1722KB

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 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 37

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Other Information

Item 5. Other Information 38

Exhibits

Item 6. Exhibits 38

SIGNATURES

SIGNATURES 39 INDEX OF EXHIBITS 40 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 October 31, Six Months Ended October 31, Dollars in millions, except per share data 2024 2023 2024 2023 Net sales $ 2,271.2 $ 1,938.6 $ 4,396.3 $ 3,743.8 Cost of products sold (A) 1,385.1 1,214.4 2,713.0 2,364.8 Gross Profit 886.1 724.2 1,683.3 1,379.0 Selling, distribution, and administrative expenses 390.7 333.5 780.8 647.1 Amortization 55.8 39.6 111.8 79.4 Other special project costs (A) 10.7 6.8 17.8 6.8 Loss (gain) on divestitures – net 260.8 13.8 260.8 12.6 Other operating expense (income) – net ( 1.6 ) 31.6 ( 7.1 ) 30.7 Operating Income 169.7 298.9 519.2 602.4 Interest expense – net ( 98.7 ) ( 35.1 ) ( 199.1 ) ( 67.2 ) Other debt costs (A) — ( 19.5 ) — ( 19.5 ) Other income (expense) – net (A) ( 4.2 ) 5.1 ( 7.3 ) ( 27.9 ) Income (Loss) Before Income Taxes 66.8 249.4 312.8 487.8 Income tax expense 91.3 54.5 152.3 109.3 Net Income (Loss) $ ( 24.5 ) $ 194.9 $ 160.5 $ 378.5 Earnings per common share: Net Income (Loss) $ ( 0.23 ) $ 1.91 $ 1.51 $ 3.70 Net Income (Loss) – Assuming Dilution $ ( 0.23 ) $ 1.90 $ 1.51 $ 3.69 (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 8: 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 October 31, Six Months Ended October 31, Dollars in millions 2024 2023 2024 2023 Net income (loss) $ ( 24.5 ) $ 194.9 $ 160.5 $ 378.5 Other comprehensive income (loss): Foreign currency translation adjustments ( 10.1 ) ( 14.0 ) ( 10.7 ) ( 6.6 ) Cash flow hedging derivative activity, net of tax 2.6 2.6 5.2 5.2 Pension and other postretirement benefit plans activi

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