ORRVILLE, OHIO — A refocus on market leading brands, including pet food brands Meow Mix, Milk-Bone and Pup-Peroni, has helped The J.M. Smucker Company deliver a positive outlook as the company enters fiscal year 2025. The company shared its fourth quarter and 2024 fiscal year results for the period ending April 30.

“Our fourth quarter and full-year results underscore the strength of our business and the demand for our leading brands,” said Mark Smucker, chair of the board, president and chief executive officer. “Our focus on superior execution and disciplined cost management helped drive our strong results in a dynamic operating environment. Our transformed portfolio, including the acquisition of Hostess Brands during the fiscal year, has strengthened our business for long-term profitable growth across our key platforms of coffee, Uncrustables frozen sandwiches, dog snacks and cat food, and sweet baked snacks.”

At the end of April 2023, the company completed its divestiture of several pet food brands to Post Holdings, Inc. including its Rachael Ray Nutrish, Nature’s Recipe, 9Lives, Kibbles ‘n Bits and Gravy Train brands. Since that time, The J.M. Smucker Company has worked on finetuning its pet food segment.

“Our refocused pet portfolio is performing well from both a sales and margin growth perspective and continues to highlight the benefits of focusing on brands and categories where we have a leading market share position,” Mark Smucker said.

Net sales for Smucker’s US Retail Pet Foods segment decreased $332.7 million, or 42%, in the fourth quarter of fiscal 2024. However, when excluding $379.2 million of noncomparable net sales in the prior year related to the divested pet food brands, net sales increased $46.5 million, or 11%. Volume/mix increased net sales by 8 percentage points, which was primarily driven by $22.7 million of contract manufacturing sales related to the divested pet food brands, as well as increases for the Milk-Bone, Meow Mix and Pup-Peroni brands.

“In Pet Foods, comparable net sales increased double digits versus the prior year, including strong growth for our Meow Mix and Milk-Bone brands,” Mark Smucker said.

The Meow Mix, Milk-Bone and Pup-Peroni brands grew 11%, 4% and 7%, respectively, in the fourth quarter. Milk-Bone has continued to drive growth, driven by elevated innovation and continued investment in brand-building, Mark Smucker said.

“In dog snacks and cat food, we grew both dollar and volume share for our category-leading Milk-Bone and Meow Mix brands,” said Tucker Marshall, chief financial officer. “We also continued to build on our successful innovation track record and have an exciting pipeline planned for fiscal 2025.”

US Retail Pet Foods segment profit decreased 22%, “primarily reflecting the noncomparable segment profit in the prior year related to the divested pet food brands and increased selling, distribution and administrative (SD&A) expenses,” Marshall explained. “Excluding the impact of the divestiture, segment profit increased by a double-digit percentage, primarily driven by lower costs, higher net price realization, and favorable volume/mix.”

As the company enters fiscal 2025, it will continue to focus on its signature brands.

“Looking ahead, fiscal year 2025 will be a year of investment in our brands, capabilities and talented employees, who have been instrumental to our success,” Mark Smucker said. “Our strategy is working and our priorities are clear: deliver our core business, successfully integrate the Hostess business, achieve our synergy aspirations, and advance our transformation and cost discipline activities. We are confident we are well-positioned to deliver long-term growth and increase shareholder value.”

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