By Dave Sebastian
J.M. Smucker Co. said it expects slowing at-home consumption in fiscal 2022 and a recovery in away-from-home channels and higher net pricing across various categories.
The parent of Folgers, Jif, Cafe Bustelo and other products on Thursday forecast a fall in net sales of 2% to 3% for the year, incorporating the effect of $355.6 million related to the divested Crisco and Natural Balance businesses. On a comparable basis, it said it expects sales to rise about 2% at the midpoint of the guidance range.
The company said it expects adjusted earnings of $8.70 a share to $9.10 a share for the year, based on 108.3 million shares outstanding.
It expects free cash flow of about $900 million and capital expenditures of $380 million for the year.
The company said cost inflation and volatility in supply chains, along with pandemic and related implications, continue to affect results and cause uncertainty and risk for the full-year outlook.
Write to Dave Sebastian at dave.sebastian@wsj.com
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June 03, 2021 at 06:25PM
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J.M. Smucker Sees Slowing At-Home Consumption, Recovery in Away-From-Home Channels - MarketWatch
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