Q1 2025 J M Smucker Co Earnings Call- Q&A Session Transcript
Key Points
- JM Smucker Co (SJM) reported strong first-quarter results with growth in both volume and sales, as well as earnings per share.
- Uncrustables continues to show significant growth, contributing positively to the company's performance.
- The company has successfully increased pricing within its coffee portfolio to offset rising green coffee costs.
- Milk-Bone dog snacks showed modest growth, supported by new product launches like the soft and chewy peanut buttery bites co-branded with Jif.
- The integration of Hostess is on track, with synergies coming in better than expected, supporting the overall profit profile.
- JM Smucker Co (SJM) has moderated its full-year 2025 comparable sales growth outlook by about a point due to inflation impacting discretionary spending on sweet baked goods and dog snacks.
- The convenience channel saw a decline in consumer shopping frequency, affecting the sweet baked snacks business.
- The company has reduced its marketing spend slightly, which could impact brand support and growth initiatives.
- Hostess is now expected to be dilutive to EPS by $0.05 to $0.10, contrary to initial expectations of slight accretion.
- The coffee segment faces challenges due to competitive dynamics, particularly affecting the Dunkin' brand.
Good morning and welcome to the J M Smucker Company's fiscal 2025 first quarter earnings question-and-answer session. This conference call is being recorded (Operator Instructions) I'll now turn the conference call over to Crystal Beiting, Vice President, Investor Relations and Financial Planning and Analysis. Thank you. You may begin.
Good morning, and thank you for joining our fiscal 2025 first quarter earnings question-and-answer session. I hope everyone had a chance to review our results as detailed in this morning's press release and management's prepared remarks, which are available on our corporate website at jmsmucker.com. We will also post an audio replay of this call at the conclusion of this morning's Q&A session.
During today's call, we may make forward-looking statements that reflect our current expectations about future plans and performance. These statements rely on assumptions and estimates and actual results may differ
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