The J. M. Smucker Company (SJM) Barclays 19th Annual Global Consumer Conference summary

Strategic priorities and portfolio performance

• Achieved strong first quarter results with 5% net sales growth and 71% increase in adjusted EPS, driven by volume growth and improved profitability.

• Focus remains on driving organic volume growth, improving profitability, and disciplined capital deployment.

• Portfolio includes leading brands across snacks, coffee, pet food, and spreads, combining high-growth and cash-generating brands for consistent, durable growth.

• Continued investment in brand building, capacity expansion, and new product launches to capture new occasions and consumers.

• Recent results led to raised full-year outlook for net sales, adjusted EPS, and free cash flow.

Brand innovation and marketing initiatives

• Uncrustables surpassed $1 billion in annual sales, added 2 million new households, and launched fridge-friendly and protein-rich varieties.

• Café Bustelo became the 6th largest at-home coffee brand, added 3 million new households, and launched culturally relevant campaigns with over 1.5 billion impressions.

• Milk-Bone expanded with new premium treats, limited-time offerings, and collaborations like Milk-Bone x Jif, with Peanut Buttery Bites as a standout innovation.

• Meow Mix maintained leadership in dry cat food, launched Gravy Bursts as the #1 innovation, and plans to expand into wet food and treats.

• Folgers and Jif launched new campaigns and product lines targeting younger consumers and new eating occasions, including functional coffee innovations.

Financial performance and outlook

• FY27 outlook improved: net sales decline narrowed to (2.0%)–(1.0%), adjusted EPS raised to $10.50–$11.00, and free cash flow increased to $1.1B.

• Achieved leverage ratio of 2.9x–3.0x net debt to EBITDA ahead of schedule, with trailing twelve-month adjusted EBITDA at $2.3B.

• Free cash flow expected to exceed $1 billion for the second consecutive year, supporting debt paydown and shareholder returns.

• Dividend increased for the 25th consecutive year, with a policy to return 40–45% of adjusted EPS to shareholders.

• Long-term targets include low single-digit net sales growth, high single-digit adjusted EPS growth, and 10%+ total shareholder return.