Corporate Profiles - 2024 - 84

COMPANY overview
sales of approximately $800 million in fiscal 2024,
and management expects it to reach $1 billion by
the end of fiscal 2026.
The optimism around Uncrustables stems from
additional capacity coming online as the company
starts operations at its new plant in McCalla, Ala.,
and marketing investments.
" We have brought on capacity, and we'll continue
to do so, which will support largely in line
with our demand growth, " Smucker said during a
June 6 conference call to discuss fiscal 2024 results.
" And then our investments in the brand are really
aimed at again increasing awareness and household
penetration.
" There still (is) runway there. You know, it's always
surprising to us to hear that some consumers
still don't know what an Uncrustable is, and
so there is opportunity continuing to reach new
consumers through some of the traditional brand
building and merchandising
tactics. And that's really
what we're aiming to do. "
In September,
J.M.
Smucker unveiled plans to
launch a new peanut butter
and raspberry flavored
Uncrustables sandwich
and a peanut butter only
Uncrustables sandwich in
fiscal 2025.
pany's
Elsewhere in the comportfolio,
coffee,
which
is Smucker's largest
business generating $2.7 billion in sales during fiscal
2024, has been challenged. The company pointed
to volatility in the market for green coffee beans.
TOP BRANDS
in millions
Net
sales
Operating
income (loss)
Source: J.M. Smucker Co.
Smucker said he expects the coffee category to
" remain resilient " heading into fiscal 2025.
One coffee brand that has performed well is
Cafe Bustelo. One of the fastest-growing brands
in the at-home coffee category, Cafe Bustelo was
introduced in 2024 into the refrigerated aisle with
new multi-serve ready-to-drink offerings.
" This innovation is a retailer exclusive and is
already a top five product at that customer in the
refrigerated multi-serve liquid category, " Smucker
noted.
J.M. Smucker also is " beginning to realize synergies
earlier than anticipated " from the Hostess
integration and expects to achieve some $100
million in cost synergies by the end of fiscal 2026,
Smucker said.
" Long term, snacking trends continue to be
J.M. Smucker Co.
sweet baked snacks
Fiscal 2024
(fiscal year ended in April)
$637
$138
favorable, with sweet and indulgent snacks historically
growing faster than overall packaged food
and approximately 70% of
consumers eating at least
two snacks per day, " he
said. " The Hostess brand
is well-positioned to capture
on these trends with
accessible price points,
single-serve and multipack
offerings and relatively low
private label exposure. "
For the full year ended
change from
prior year
NA
NA
April 30, net income at
J.M. Smucker was $744
million, equal to $7.14 per
share on the common stock, which compared with
a $91.3 million loss in fiscal 2023. Net sales were
$8.18 billion, down 4% from $8.53 billion. CP
J.M. Smucker Co. US retail
frozen handheld and snacks
Fiscal 2024
(fiscal year ended in April)
in millions
Net
sales
Operating
income (loss)
Source: J.M. Smucker Co.
$1,816
+11.0%
$434
+23.0%
J.M. Smucker Co. international
and away from home
in millions
change from
prior year
+7.0%
Operating
income (loss)
Source: J.M. Smucker Co.
J.M. SMUCKER CO.
$208
+45.0%
Net
approximately $800 million in
fiscal 2024, and management
expects it to reach $1 billion by
the end of fiscal 2026.
Cafe Bustelo is one of the fastestgrowing
brands in the at-home
coffee category. Cafe Bustelo
was introduced in 2024 into the
refrigerated aisle with new multiserve
ready-to-drink offerings.
sales
J.M. Smucker said it plans to
increase advertising spending
around the Hostess business
by 50%, which is one part of
a five-step plan to establish
Hostess as a major snack brand
in the years ahead.
84 \ October 2024
$1,199
change from
prior year
J.M. Smucker Co.
US retail coffee
Fiscal 2024
(fiscal year ended in April)
in millions
Net
sales
Operating
income (loss)
Source: J.M. Smucker Co.
$2,704
-1.0%
$759
+3.0%
J.M. Smucker Co.
US retail pet foods
in millions
Net
sales
Operating
income (loss)
Source: J.M. Smucker Co.
$1,823
-40%
$402
-19%
change from
prior year
Fiscal 2024
(fiscal year ended in April)
change from
prior year
HOSTESS
UNCRUSTABLES
Uncrustables had sales of
CAFE BUSTELO
Fiscal 2024
(fiscal year ended in April)
Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Dairy Processing * Pet Food Processing
Corporate Profiles

Corporate Profiles - 2024

Table of Contents for the Digital Edition of Corporate Profiles - 2024