The J.M.Smucker Company (SJM)

Abro hilo aprovechando la presentación de resultados. Primero una introducción a la empresa:

RPD del 3.28% a cotización actual, 21 años incrementando dividendos y crecimientos del mismo parece tendiendo a la baja: DGR1=6,50%, DGR3=7,60%, DGR5=8,20% y DGR10=10,00%.

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Desde 2017 ha dado varias oportunidades de comprar:

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Fiscal 2020 First Quarter Results * Net sales decreased $123.6 million, or 6 percent. Comparable net sales decreased 4 percent.

  • Net income per diluted share was $1.36. Adjusted earnings per share was $1.58, a decrease of 11 percent.
  • Cash from operations was $221.5 million, a decrease of 9 percent. Free cash flow was $148.5 million in the quarter, compared to $141.7 million in the prior year.
  • The Company updated its full-year fiscal 2020 net sales and adjusted earnings per share outlook. (27/08/2019)

Full-year outlook

  • Net sales are expected to range from down 1 percent to flat compared to the prior year, which includes the loss of $105.9 million of sales in the first 4 months of fiscal 2019 related to the divested U.S. baking business and $25.4 million of incremental noncomparable sales for Ainsworth. On a comparable basis, net sales are expected to range from flat to up 1 percent.
  • Adjusted earnings per share is expected to range from $8.35 to $8.55, based on 114.0 million shares outstanding. Earnings guidance reflects the reduced contribution from sales, gross profit margin of approximately 38.5 percent, and SD&A expenses declining slightly compared to the prior year.
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Por debajo de 100 empieza a gustarme.

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Fiscal 2020 Second Quarter Results (22/11/2019)

  • Net sales decreased $63.7 million, or 3 percent. Net sales excluding the noncomparable divested business and foreign currency exchange decreased 1 percent.
  • Net income per diluted share was $1.85. Adjusted earnings per share was $2.26, an increase of 4 percent.
  • Cash from operations was $224.0 million, an increase of 10 percent. Free cash flow was $160.6 million in the quarter, compared to $125.1 million in the prior year.

The Company updated its full-year fiscal 2020 outlook

  • Net sales are expected to be down 3 percent compared to the prior year, which included the loss of $105.9 million of sales in the first 4 months of fiscal 2019 related to the divested U.S. baking business and $25.4 million of incremental noncomparable sales for Ainsworth Pet Nutrition, LLC (“Ainsworth”).
  • On a comparable basis, net sales are expected to be down 2 percent. The revision versus previous guidance includes the impact of second quarter sales results and greater than anticipated softness in the back half of the fiscal year, primarily for certain brands within the U.S. Retail Pet Foods segment.
  • Adjusted earnings per share is expected to range from $8.10 to $8.30, based on 114.0 million shares outstanding. Earnings guidance reflects the reduced contribution from sales, gross profit margin of approximately 38.5 percent, and SD&A expenses declining approximately 2 percent compared to the prior year.
  • Free cash flow is expected to be approximately $850 million.
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Es de hace tiempo, pero me parece un buen análisis

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Análisis más reciente:

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También la veo interesante por debajo de 100 para una primera entrada. El dividendo no está nada mal

Fiscal 2020 Third Quarter Results (26/02/2020)

  • Net sales decreased $39.6 million, or 2 percent, primarily reflecting anticipated declines within the U.S. Retail Pet Foods segment.
  • Net income per diluted share was $1.64. Adjusted earnings per share was $2.35, an increase of 4 percent.
  • Cash from operations was $521.6 million, an increase of 24 percent. Free cash flow was $465.1 million in the quarter, compared to $333.0 million in the prior year.

Full-year fiscal 2020 outlook

  • Net sales are expected to be down 3 percent compared to the prior year.
  • Adjusted earnings per share is expected to range from $8.10 to $8.30, based on 114.0 million shares outstanding.
  • Free cash flow is expected to be approximately $850 million.

Fiscal 2020 Fourth Quarter Results (04/06/2020)

  • Net sales increased $189.9 million, or 10 percent, driven by increased consumer demand resulting from the COVID-19 pandemic.
  • For the full year, net sales were $7.8 billion, a 1 percent increase of comparable sales excluding acquisition, divestiture, and foreign currency exchange.
  • Net income per diluted share was $1.98. Adjusted earnings per share was $2.57, an increase of 24 percent.
  • For the full year, net income per diluted share was $6.84. Adjusted earnings per share was $8.76, an increase of 6 percent.
  • Cash from operations was $287.7 million compared to $274.2 million in the prior year.
  • Free cash flow was $211.3 million in the quarter and $985.5 million for the full year.
  • The Company provided its fiscal 2021 outlook, with an expected net sales decline of 1 to 2 percent, adjusted earnings per share to range from $7.90 to $8.30, and free cash flow to range from $900 to $950 million.

Jan. 22, 2021 J. M. Smucker (NYSE:SJM) declares $0.90/share quarterly dividend, in line with previous. Forward yield 3.15%.

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