The J. M. Smucker's (SJM) CEO Mark Smucker On Q1 2018 Results Earnings Call Transcript

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LONDON, UK / ACCESSWIRE / September 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The J. M. Smucker Co. (NYSE: SJM), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SJM, following the Company's release of its financial results on August 24, 2017, for the first quarter of the fiscal year 2018. The Company's International and Away From Home segment's net revenue increased 3.3% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For the three months ended July 31, 2017, J. M. Smucker's net revenue decreased 4% to $1.75 billion from $1.82 billion in Q1 FY17. The net revenue was below analysts' expectations of $1.82 billion.

During Q1 FY18, J. M. Smucker's gross profit decreased 8% to $662.1 million from $722.7 million in Q1 FY17. During Q1 FY18, the Company's gross margin decreased 190 basis points to 37.9% of revenue from 39.8% of revenue in Q1 FY17. For the reported quarter, the Company's adjusted gross profit decreased 9.6% to $650.2 million from $719.0 million in Q1 FY17. During Q1 FY18, J. M. Smucker's adjusted gross margin decreased 240 basis points to 37.2% of revenue from 39.6% of revenue in the same period of last year.

During Q1 FY18, J. M. Smucker's selling, general, and administrative expenses (SG&A) decreased 2% to $350.2 million from $356.0 million in Q1 FY17. For the reported quarter, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 15.9% to $337.0 million from $400.6 million in Q1 FY17.

For the reported quarter, the Company's operating income decreased 20% to $233.8 million from $293.8 million in Q1 FY17. For the reported quarter, J. M. Smucker's operating margin decreased 280 basis points to 13.4% of revenue from 16.2% of revenue in Q1 FY17. For the reported quarter, the Company's adjusted operating income decreased 17% to $300.5 million from $364.0 million in Q1 FY17. During Q1 FY18, J. M. Smucker's adjusted operating margin decreased 280 basis points to 17.2% of revenue from 20.0% of revenue in the same period of last year.

During Q1 FY18, J. M. Smucker's net income decreased 25% to $126.8 million from $170.0 million in Q1 FY17. For the reported quarter, the Company's adjusted net income decreased 21% to $171.6 million from $217.2 million in Q1 FY17. During Q1 FY18, J. M. Smucker's diluted earnings per share (EPS) decreased 23% to $1.12 from $1.46 in Q1 FY17. During Q1 FY18, the Company's adjusted diluted EPS decreased 19% to $1.51 from $1.86 in Q1 FY17. The adjusted diluted EPS was below analysts' expectations of $1.61.

Segment Details

US Retail Coffee - During Q1 FY18, J. M. Smucker's US Retail Coffee segment's net revenue decreased 6.3% to $480.8 million from $513.3 million in Q1 FY17. For the reported quarter, the segment's profit margin decreased 820 basis points to 25.7% of revenue from 33.9% of revenue in Q1 FY17.

US Retail Consumer Foods - During Q1 FY18, J. M. Smucker's US Retail Consumer Foods segment's net revenue decreased 8.2% to $492.4 million from $537.0 million in Q1 FY17. For the reported quarter, the segment's profit margin increased 180 basis points to 22.5% of revenue from 20.7% of revenue in Q1 FY17.

US Retail Pet Foods - During Q1 FY18, J. M. Smucker's US Retail Pet Foods segment's net revenue increased 42 basis points to $521.7 million from $519.5 million in Q1 FY17. For the reported quarter, the segment's profit margin decreased 470 basis points to 18.8% of revenue from 23.5% of revenue in Q1 FY17.

International and Away From Home - During Q1 FY18, J. M. Smucker's International and Away From Home segment's net revenue increased 3.3% to $254.0 million from $246.0 million in Q1 FY17. For the reported quarter, the segment's profit margin decreased 100 basis points to 15.1% of revenue from 16.1% of revenue in Q1 FY17.

Balance Sheet

As on July 31, 2017, J. M. Smucker's cash and cash equivalents increased 9.8% to $183.2 million from $166.8 million in Q4 FY17. During Q1 FY18, the Company's inventories increased 8.3% to $981.3 million from $905.7 million in Q4 FY17.

During Q1 FY18, J. M. Smucker's accounts payable increased 8 basis points to $477.6 million from $477.2 million in Q4 FY17. For the reported quarter, the Company's long-term debt, less current portion, was $4.44 billion compared to $4.45 billion in Q4 FY17.

During Q1 FY18, the Company's cash provided by operating activities was $304.3 million compared to $238.9 million in the same period of last year. For the reported quarter, J. M. Smucker's free cash flow increased 24.4% to $234.7 million from $188.7 million in Q1 FY17.

Outlook

For FY18, J. M. Smucker expects diluted EPS to be in the range of $6.19 - $6.39 and adjusted diluted EPS to be in the band of $7.75 - $7.95.

The Company expects free cash flow to be $775 million for the fiscal year 2018.

Stock Performance

On Wednesday, September 13, 2017, J. M. Smucker's stock closed the trading session at $107.05, marginally down 0.65% from its previous closing price of $107.75. A total volume of 755.84 thousand shares were exchanged during the session. Shares of the Company have a PE ratio of 22.52 and have a dividend yield of 2.91%. The stock currently has a market cap of $12.03 billion.

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SOURCE: Pro-Trader Daily

This is source I found from another site, main source you can find in last paragraph

Source : http://www.4-traders.com/J-M-SMUCKER-CO-14400/news/J-M-Smucker-Co-Earnings-Review-and-Free-Research-Report-J-M-Smucker-s-Free-Cash-Flow-Increased-25114555/

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