ORRVILLE, Ohio, Dec. 10,
2024 /PRNewswire/ -- Today, The J.M. Smucker Co.
(NYSE: SJM) will highlight how its strategic transformation and
world-class capabilities have positioned the Company for long-term
sustainable growth at its 2024 Investor Day.
"Over the last several years, we have strategically transformed
our business to more effectively meet the evolving needs of the
consumer while consistently delivering against our long-term
financial algorithm," said Chair of the Board, President and Chief
Executive Officer, Mark Smucker. "We
are delivering growth across our portfolio through our world-class
marketing, commercial and manufacturing capabilities, and are
focusing our resources on our most significant growth
opportunities. We are highly confident in our ability to deliver
our long-term algorithm, including our goal of over $1 billion in free cash flow annually."
At the Investor Day, the Company will:
- Demonstrate how its core business, which accounts for
approximately 85% of net sales, is delivering strong growth and
positioned for continued success;
- Reinforce the strategic rationale and long-term trajectory of
the Hostess® brand, while also providing
details on its plans to return the brand to growth; and
- Highlight how its world-class marketing, commercial and
manufacturing capabilities are providing new ways to fuel further
sales growth and margin expansion throughout the business.
In addition to Mark Smucker, the Company's Investor Day
will feature presentations from key leaders across the
organization, including:
- John Brase, Chief Operating
Officer, will provide insights on the Company's transformed
commercial strategy that is focused on driving sales growth and
improved margins through enhanced sales, procurement and supply
chain capabilities.
- Gail Hollander, Chief Marketing
Officer, will discuss the Company's world-class brand building
model that leverages a consumer-centric approach, data-driven
insights and cultural relevance to build iconic brands and drive
profitable growth.
- Rob Ferguson, Senior Vice
President and General Manager, Coffee and Procurement, will provide
an overview of how the Company's coffee portfolio is well
positioned to capitalize on evolving consumer preferences, with a
focus on driving growth for Café Bustelo®, the
fastest growing leading brand in the at-home coffee category, and
unlocking new opportunities in premium and cold coffee.
- Rebecca Scheidler, Senior Vice
President and General Manager, Frozen Handheld and Spreads, will
share how the Company will execute on strategies that will continue
to propel the Uncrustables® brand to $1 billion in net sales and fuel the iconic
Jif® and Smucker's® brands to
new heights.
- Judd Freitag, Vice President,
General Manager and Marketing, Pet, will provide an update on how
the Company is focusing its resources and investments to accelerate
sales growth and expand upon its leading positions in dog snacks
and cat food, while improving its margins and growth profile.
- Dan O'Leary, Senior Vice
President and General Manager, Sweet Baked Snacks and Pet, will
discuss plans to return the Sweet Baked Snacks segment to growth,
while also underscoring the Company's positive long-term outlook
for the Hostess® brand.
- Tim Wayne, Senior Vice President
and General Manager, Away From Home, Canada and International, will detail the
tremendous growth opportunities in the Away From Home channel and
internationally, as well as the Company's margin expansion strategy
for international markets.
- Jill Penrose, Chief People and
Company Services Officer, will discuss the culture and talent of
the Company, and how it serves as a competitive advantage in
delivering the business.
- Tucker Marshall, Chief Financial Officer, will discuss the
Company's strong financial foundation shaped by its continued
commitment to balanced capital deployment through investing in the
business while delivering consistent shareholder value. He will
also reaffirm the Company's long-term growth targets.
To listen to the virtual webcast of the Company's Investor Day,
which begins at 8:45 a.m. Eastern Standard
Time, or to review the event replay,
visit www.investors.jmsmucker.com.
About The J.M. Smucker Co.
This press release
contains forward-looking statements, such as projected net sales,
operating results, earnings, and cash flows that are subject to
risks and uncertainties that could cause actual results to differ
materially from future results expressed or implied by those
forward-looking statements. The risks, uncertainties, important
factors, and assumptions listed and discussed in this press
release, which could cause actual results to differ materially from
those expressed, include: the Company's ability to successfully
integrate Hostess Brands' operations and employees and to implement
plans and achieve financial forecasts with respect to the Hostess
Brands' business; the Company's ability to realize the anticipated
benefits, including synergies and cost savings, related to the
Hostess Brands acquisition, including the possibility that the
expected benefits will not be realized or will not be realized
within the expected time period; disruption from the acquisition of
Hostess Brands by diverting the attention of the Company's
management and making it more difficult to maintain business and
operational relationships; the negative effects of the acquisition
of Hostess Brands on the market price of the Company's common
shares; the amount of the costs, fees, expenses, and charges and
the risk of litigation related to the acquisition of Hostess
Brands; the effect of the acquisition of Hostess Brands on the
Company's business relationships, operating results, ability to
hire and retain key talent, and business generally; disruptions or
inefficiencies in the Company's operations or supply chain,
including any impact caused by product recalls, political
instability, terrorism, geopolitical conflicts (including the
ongoing conflicts between Russia
and Ukraine and Israel and Hamas), extreme weather conditions,
natural disasters, pandemics, work stoppages or labor shortages
(including potential strikes along the U.S. East and Gulf coast
ports and potential impacts related to the duration of a recent
strike at the Company's Buffalo, New
York manufacturing facility), or other calamities; risks
related to the availability of, and cost inflation in, supply chain
inputs, including labor, raw materials, commodities, packaging, and
transportation; the impact of food security concerns involving
either the Company's products or its competitors' products,
including changes in consumer preference, consumer litigation,
actions by the U.S. Food and Drug Administration or other agencies,
and product recalls; risks associated with derivative and
purchasing strategies the Company employs to manage commodity
pricing and interest rate risks; the availability of reliable
transportation on acceptable terms; the ability to achieve cost
savings related to restructuring and cost management programs in
the amounts and within the time frames currently anticipated; the
ability to generate sufficient cash flow to continue operating
under the Company's capital deployment model, including capital
expenditures, debt repayment to meet the Company's deleveraging
objectives, dividend payments, and share repurchases; a change in
outlook or downgrade in the Company's public credit ratings by a
rating agency below investment grade; the ability to implement and
realize the full benefit of price changes, and the impact of the
timing of the price changes to profits and cash flow in a
particular period; the success and cost of marketing and sales
programs and strategies intended to promote growth in the Company's
businesses, including product innovation; general competitive
activity in the market, including competitors' pricing practices
and promotional spending levels; the Company's ability to attract
and retain key talent; the concentration of certain of the
Company's businesses with key customers and suppliers, including
primary or single-source suppliers of certain key raw materials and
finished goods, and the Company's ability to manage and maintain
key relationships; impairments in the carrying value of goodwill,
other intangible assets, or other long-lived assets or changes in
the useful lives of other intangible assets or other long-lived
assets; the impact of new or changes to existing governmental laws
and regulations and their application; the outcome of tax
examinations, changes in tax laws, and other tax matters; a
disruption, failure, or security breach of the Company or its
suppliers' information technology systems, including, but not
limited to, ransomware attacks; foreign currency exchange rate and
interest rate fluctuations; and risks related to other factors
described under "Risk Factors" in other reports and statements
filed with the Securities and Exchange Commission, including the
Company's most recent Annual Report on Form 10-K. The Company
undertakes no obligation to update or revise these forward-looking
statements, which speak only as of the date made, to reflect new
events or circumstances.
About The J.M. Smucker Co.
At The J.M. Smucker
Co., it is our privilege to make food people and pets love by
offering a diverse family of brands available across North America. We are proud to lead in the
coffee, peanut butter, fruit spreads, frozen handheld, sweet baked
goods, dog snacks and cat food categories by offering brands
consumers trust for themselves and their families each day,
including Folgers®, Dunkin'®, Café
Bustelo®, Jif®, Uncrustables®, Smucker's®, Hostess®,
Milk-Bone® and Meow
Mix®. Through our unwavering commitment to
producing high quality products, operating responsibly and
ethically and delivering on our Purpose, we will continue to grow
our business while making a positive impact on society. For more
information, please visit jmsmucker.com.
The J.M. Smucker Co. is the owner of all trademarks
referenced herein, except
for Dunkin'®, which is a trademark of
DD IP Holder LLC. The Dunkin'® brand is licensed
to The J.M. Smucker Co. for packaged coffee products sold in retail
channels, such as grocery stores, mass merchandisers, club stores,
e-commerce and drug stores, as well as in certain away from home
channels. This information does not pertain to products for sale in
Dunkin'® restaurants.
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SOURCE The J.M. Smucker Co.