Q2 2025 J M Smucker Co Earnings Call (Pre-recorded) Transcript
Key Points
- JM Smucker Co (SJM) delivered results that exceeded expectations, allowing for an increase in full-year adjusted earnings per share guidance.
- The Uncrustables brand achieved a record quarter for sales and household penetration, with net sales growing by 16%.
- The Café Bustelo brand grew net sales by 20%, continuing its momentum of double-digit net sales growth.
- The company successfully started production at its third Uncrustables plant, enabling expansion beyond $1 billion in net sales.
- JM Smucker Co (SJM) plans to prioritize debt reduction, aiming to pay down approximately $500 million of debt annually over the next three years.
- The Hostess brand's net sales continue to be below expectations due to inflationary pressures and diminished discretionary income.
- The Sweet Baked Snacks segment delivered net sales and segment profit below expectations.
- Reported net sales for US Retail Pet Foods decreased by 4% versus the prior year.
- The Dunkin' brand experienced an 8% decline in net sales.
- Third-quarter adjusted earnings per share is anticipated to decline mid-single-digits, primarily driven by higher SD&A expenses.
Good morning. This is Crystal Beiting, Vice President, Investor Relations and Financial Planning and Analysis for The J. M. Smucker Company. Thank you for listening to our prepared remarks on our fiscal 2025 second-quarter earnings.
After this brief introduction, Mark Smucker, Chair of the Board, President and Chief Executive Officer, will give an overview of the quarter's results and an update on strategic initiatives. Tucker Marshall, Chief Financial Officer, will then provide a detailed analysis of the financial results and our updated fiscal 2025 outlook. Later this morning, we will hold a separate, live question-and-answer webcast.
During today's discussion, we will 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 materially due to risks and uncertainties.
Additionally, please note we will refer to non-GAAP financial measures
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