The J.M. Smucker Co. (NYSE: SJM) has reported its fiscal 2025 first-quarter results, showing a notable increase in net sales and adjusted earnings per share. The company's net sales for the first quarter ended July 31, 2024, were $2.1 billion, reflecting an 18% increase from the previous fiscal year. Excluding the impact of acquisitions, divestitures, and foreign currency exchange, net sales still showed a 1% increase.
Adjusted earnings per share for the quarter stood at $2.44, marking a 10% increase from the prior year. However, net income per diluted share was reported at $1.74, showing a slight decrease of 3% compared to the previous year.
The company's cash provided by operations was $172.9 million, down from $217.9 million in the prior year. Additionally, free cash flow decreased to $49.2 million from $67.6 million in the prior year.
In terms of the company's full-year fiscal 2025 outlook, J.M. Smucker Co. updated its guidance. It now expects a net sales increase of 8.5% to 9.5% compared to the prior year. The adjusted earnings per share are anticipated to range from $9.60 to $10.00, and free cash flow is expected to be approximately $875 million.
Looking at the segment results, the U.S. retail coffee segment saw a slight 1% increase in net sales, while the U.S. retail frozen handheld and spreads segment experienced a 7% increase. However, the U.S. retail pet foods segment reported a 9% decrease in net sales. The international and away from home segment also showed a 1% decrease in net sales.
The financial results and management discussion for the first quarter can be accessed through the company's website.
These results demonstrate the company's performance in a dynamic consumer environment and provide insights into its strategic initiatives and financial outlook for the fiscal year. Today the company's shares have moved -0.5% to a price of $120.7. If you want to know more, read the company's complete 8-K report here.
