J. M. SMUCKER Reports Earnings Results for Q3 of Fiscal Year 2024
September 1, 2023
🌥️Earnings Overview
For the quarter ending July 31 2023, J. M. SMUCKER ($NYSE:SJM) reported total revenue of USD 1805.2 million and a year-over-year decrease of 3.6% compared to the same period in the prior fiscal year. Surprisingly, net income for the quarter increased 67.2% from the same period in the previous year to USD 183.6 million.
Share Price
On Tuesday, J. M. SMUCKER reported its earnings results for the third quarter of its fiscal year 2024. The company opened its stock at $145.8 and closed at $145.9, up by 2.1% from its previous closing price of $142.9. This marks a strong performance for the company in the third quarter of the fiscal year, despite the ongoing global health and economic crisis. The company’s success can be attributed to its focus on strengthening its core product lines and expanding into new markets. J. M. SMUCKER has invested significantly in research and development to create new products that have been well-received by consumers.
In addition, the company has also been able to leverage its vast distribution network to reach new customers around the world. Overall, the results of J. M. SMUCKER’s third quarter show that the company is making strides in the current market, even in the face of global economic challenges. The company’s focus on innovation and growth has allowed it to remain a competitive force in the industry, and these results demonstrate its commitment to its customers and shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SJM. More…
| Total Revenues | Net Income | Net Margin |
| 8.46k | -17.3 | 7.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SJM. More…
| Operations | Investing | Financing |
| 1.45k | 175.8 | -1.54k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SJM. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.71k | 7.71k | 68.59 |
Key Ratios Snapshot
Some of the financial key ratios for SJM are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.9% | -2.1% | 2.8% |
| FCF Margin | ROE | ROA |
| 10.8% | 2.0% | 1.0% |
Analysis
At GoodWhale, we have extensively analyzed the financials of J. M. SMUCKER and were pleased to find a strong health score of 8/10 with regard to its cashflows and debt. This high score indicates that J. M. SMUCKER is capable of sustaining future operations even in times of crisis. After further investigation, we classified J. M. SMUCKER as a ‘cow’, a type of company that has a track record of consistently paying out sustainable dividends. However, due to its weak asset and growth metrics, J. M. SMUCKER may not be suitable for investors who are looking for high growth potential. More…
Peers
The company has a strong track record of delivering shareholder value through a combination of organic growth and strategic acquisitions. Smucker’s is a well-run company with a clear strategy for growth. Smucker’s competes in a number of food categories, some of which are more competitive than others. In the fruit spreads category, Smucker’s faces stiff competition from Hormel Foods Corp, Bell Food Group Ltd, and Fruitas Holdings Inc. Each of these companies has its own strengths and weaknesses, and Smucker’s must compete against them on a number of fronts. In order to continue growing, Smucker’s must continue to innovate and differentiate its products from those of its competitors. The company must also continue to focus on execution, delivering consistent quality and value to its customers.
– Hormel Foods Corp ($NYSE:HRL)
Hormel Foods Corporation is an American food company based in Austin, Minnesota. The company was founded in 1891 by George A. Hormel as a manufacturer of ham and other pork products. Hormel Foods Corporation is now a publicly traded company on the New York Stock Exchange, and it is included in the S&P 500 index. The company employs over 20,000 people worldwide.
Hormel Foods Corporation has a market capitalization of $24.52 billion as of 2022. The company’s return on equity is 11.34%. Hormel Foods Corporation is a food company that manufactures and markets a variety of meat and food products. The company’s products include ham, bacon, sausage, turkey, chicken, chili, and Spam. Hormel Foods Corporation also manufactures and markets a variety of other food products, including shelf-stable foods, dairy products, and other meat products.
– Bell Food Group Ltd ($LTS:0RFX)
The company’s market cap is $1.43 billion, and its ROE is 7.15%. The company is a leading international food group, with operations in over 40 countries and employing more than 80,000 people. The company’s brands include Dolmio, Nando’s, Weetabix, and Ovaltine. The company has a strong focus on healthy eating and sustainability, and has been named one of the world’s most ethical companies by the Ethisphere Institute.
– Fruitas Holdings Inc ($PSE:FRUIT)
Fruitas Holdings Inc is a publicly traded company with a market capitalization of $2.13 billion as of 2022. The company’s return on equity, a measure of profitability, is 2.5%. Fruitas Holdings is engaged in the business of operating fruit and vegetable stalls in the Philippines. The company has a network of over 1,000 stores nationwide.
Summary
J. M. SMUCKER reported its earnings for the quarter ending July 31 2023, and the total revenue was down 3.6% compared to the same period a year ago. However, despite the lower revenue, net income increased by 67.2% from the same period in the previous year. This indicates that the company is making positive strides in improving operations and increasing profitability. Investors may find J. M. SMUCKER to be a promising opportunity, especially due to the strong year-over-year growth in net income.
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