SJM - The J.M. Smucker unveils long-term growth targets and reaffirms FY2021 outlook

Based on its strategic framework and in-depth portfolio review, The J.M. Smucker (SJM) provided long-term annual growth targets: Net sales growth of 2%; Operating income growth of 5%; Adjusted EPS growth of 8%; Total shareholder return of 10% or greater.The company reiterated its FY2021 guidance of net sales growth to be flat to +1% vs. consensus growth of +0.60%, adjusted EPS to range from $8.35 to $8.65 vs. consensus of $8.61 and free cash flow to range from $975M to $1,025M. "We are implementing a focused strategic plan, including reshaping our portfolio, streamlining our organization, and updating our commercial model to transform how we deliver for our customers and consumers, as well as deliver sustainable shareholder value," said Mark Smucker, President and Chief Executive Officer.

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The J.M. Smucker unveils long-term growth targets and reaffirms FY2021 outlook