NYSE$SJM
JM Smucker Co · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Smucker's performance was driven by strong sales momentum in the U.S. Retail Consumer Foods and U.S. Retail Coffee segments, benefiting from elevated at-home consumption trends.
The J.M. Smucker Co. reported a net sales increase of 4 percent and adjusted earnings per share increase of 6 percent. The company also increased its full-year fiscal 2021 net sales, adjusted earnings per share, and free cash flow outlook.
- Net sales increased by 4 percent, primarily driven by growth in U.S. Retail Consumer Foods and U.S. Retail Coffee segments.
- Net income per diluted share was $2.02; adjusted earnings per share was $2.39, a 6 percent increase.
- Cash from operations increased by 69 percent to $378.7 million.
- Free cash flow was $326.3 million, compared to $160.6 million in the prior year.
Headline financials
Revenue & EPS history
Smucker · Revenue · Quarterly
$2.03B
Revenue by segment
Smucker · $1.55B total across 3 segments · Q2 2021
- U.S. Retail Pet Foods$709M—45.6%
- U.S. Retail Coffee$595M—38.2%
- Away From Home$252M—16.2%
Forward guidance
The Company updated its full-year fiscal 2021 guidance. Net sales are expected to increase 1 to 2 percent. Adjusted earnings per share is expected to range from $8.55 to $8.85. Free cash flow is expected to range from $975 million to $1,025 million.
Tailwinds
- Net sales are expected to increase 1 to 2 percent compared to the prior year, primarily reflecting elevated at-home consumption benefiting the U.S. Retail Coffee and U.S. Retail Consumer Foods segments.
- Adjusted earnings per share is expected to range from $8.55 to $8.85, based on 114.1 million shares outstanding.
- Earnings guidance reflects the contribution from sales at a gross profit margin range of 37.5 to 38.0 percent
- SD&A expenses to increase 1 to 2 percent compared to the prior year
- Free cash flow is expected to range from $975 million to $1,025 million with capital expenditures of $315 million.
Headwinds
- Net sales guidance also reflects a decline for the Company's Away From Home business
- Net sales guidance also reflects the lapping of a $185 million incremental benefit to net sales related to COVID-19 in the fourth quarter of the prior year.
- The outbreak of COVID-19 continues to impact financial results and cause uncertainty for the full-year fiscal 2021 outlook.
- Changes in consumer purchasing behavior, retailer inventory levels, macroeconomic conditions, and any manufacturing or supply chain disruption could materially impact actual results.
- The full-year fiscal 2021 guidance does not reflect any impact related to the Company's previously announced agreement to divest the Crisco® oils and shortening business.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2021
+0.0%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+0.1%
Avg return
30 days after
49%
34 / 69 earnings
Positive
+10.6%
Q4 2026
Best reaction
-11.5%
Q1 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +10.6% | +14.8% | — | |
| Q3 2026 | +9.8% | +5.4% | -10.7% | |
| Q2 2026 | -4.7% | -0.1% | -4.8% | |
| Q1 2026 | -4.2% | -0.1% | -1.2% | |
| Q4 2025 | +0.0% | +0.3% | +9.4% | |
| Q3 2025 | -0.0% | +0.6% | +6.6% | |
| Q2 2025 | +3.9% | +3.7% | -2.4% | |
| Q1 2025 | -5.7% | -5.0% | +0.4% | |
| Q4 2024 | +4.2% | +2.4% | -0.4% | |
| Q3 2024 | -2.7% | -2.2% | +0.5% | |
| Q2 2024 | +4.7% | +6.1% | +14.4% | |
| Q1 2024 | +0.7% | -0.3% | -12.8% | |
| Q4 2023 | -0.4% | +3.1% | -0.3% | |
| Q3 2023 | -1.9% | +1.9% | +6.4% | |
| Q2 2023 | +2.1% | +3.5% | +8.1% | |
| Q1 2023 | +4.6% | +2.8% | +3.1% | |
| Q4 2022 | +3.4% | +4.2% | +7.8% | |
| Q3 2022 | -3.0% | -0.7% | +0.5% | |
| Q2 2022 | +4.6% | +3.6% | +5.2% | |
| Q1 2022 | -2.9% | -2.8% | -6.4% | |
| Q4 2021 | +2.9% | +0.7% | -4.6% | |
| Q3 2021 | -1.1% | -0.2% | +13.5% | |
| Q2 2021 | +1.7% | +0.4% | +0.0% | |
| Q1 2021 | +7.7% | +5.9% | -1.9% | |
| Q4 2020 | -6.2% | -5.4% | -8.4% | |
| Q3 2020 | -1.5% | -0.9% | -4.4% | |
| Q2 2020 | +1.6% | +1.9% | -0.4% | |
| Q1 2020 | -7.6% | -6.9% | -3.3% | |
| Q4 2019 | -0.6% | -1.7% | -4.6% | |
| Q3 2019 | +6.4% | +4.3% | +14.8% | |
| Q2 2019 | -5.3% | -5.4% | -14.0% | |
| Q1 2019 | -9.0% | -9.3% | -5.4% | |
| Q4 2018 | -3.8% | -0.6% | +4.9% | |
| Q3 2018 | +1.0% | -1.5% | +2.6% | |
| Q2 2018 | +7.2% | +6.6% | +12.1% | |
| Q1 2018 | -11.5% | -11.9% | -12.0% | |
| Q4 2017 | -2.8% | -2.0% | -11.8% | |
| Q3 2017 | +3.0% | +2.1% | +0.5% | |
| Q2 2017 | -3.9% | -2.3% | -0.6% | |
| Q1 2017 | -8.9% | -11.0% | -11.8% | |
| Q4 2016 | +8.7% | +8.6% | +16.1% | |
| Q3 2016 | +0.7% | — | — | |
| Q2 2016 | +7.9% | — | — | |
| Q1 2016 | +7.7% | — | — | |
| Q4 2015 | -5.8% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | -0.8% | — | — | |
| Q1 2015 | -1.7% | — | — | |
| Q4 2014 | +2.8% | — | — | |
| Q3 2014 | +0.2% | — | — | |
| Q2 2014 | -5.1% | — | — | |
| Q1 2014 | -1.5% | — | — | |
| Q4 2013 | -1.0% | — | — | |
| Q3 2013 | -0.4% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2013 | +6.7% | — | — | |
| Q4 2012 | -0.4% | — | — | |
| Q3 2012 | -6.5% | — | — | |
| Q2 2012 | +1.5% | — | — | |
| Q1 2012 | -10.2% | — | — | |
| Q4 2009 | +1.1% | — | — | |
| Q4 2011 | +1.1% | — | — | |
| Q3 2011 | -0.0% | — | — | |
| Q3 2010 | -0.0% | — | — | |
| Q2 2011 | +0.4% | — | — | |
| Q2 2010 | +1.1% | — | — | |
| Q1 2010 | +1.1% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q1 2011 | +1.1% | — | — |
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