Smucker pet food sales down Q2 FY21, up for first half

In the second quarter of fiscal year 2021, J.M. Smucker pet food net retail sales declined US$1.2 million compared to the same quarter in 2019.

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(scorpp, BigStock.com)
(scorpp, BigStock.com)

Adapted from a press release:

In the second quarter of fiscal year 2021, J.M. Smucker pet food net retail sales declined US$1.2 million compared to the same quarter in 2019, although this was offset by a one percentage point increase from volume/mix. Smucker pet segment net sales stood at US$708.7 million in the three months ending on October 31, 2020, whereas net sales in the second quarter of 2019 hit US$709.9 million. Segment profit decreased US$12.1 million from US$137.0 million in Q2 FY20 to US$124.9 million, primarily due to the impact of lower net pricing and higher marketing expense. For the first half of fiscal year 2021, Smucker’s pet food net sales reached US$1,401.3 million, an increase from sales during the six months ended October 31, 2019, which hit US$1,379.8 million.

The contribution from volume/mix primarily reflects growth for cat food and dog snacks driven by Meow Mix and private label cat food, as well as Pup-Peroni and Milk-Bone dog snacks. These gains were partially offset by reduced volume/mix for dog food, mostly driven by private label and the Natural Balance brand.

Overall Smucker performance in Q2 FY21

Net sales increased US$76.2 million, or 4%, primarily reflecting growth in the Smucker’s U.S. retail consumer foods and U.S. retail coffee segments, partially offset by a decline in its international business. Net income per diluted share was US$2.02. Adjusted earnings per share was US$2.39, an increase of 6%. Cash from operations was US$378.7 million, an increase of 69%. Free cash flow was US$326.3 million, compared to US$160.6 million in the prior year.

About J.M. Smucker pet foods

According to Petfood Industry’s Top Pet Food Companies Current Data, J.M. Smucker’s is a leading producer, distributor and marketer of premium-quality, branded pet food and pet snacks in the U.S. Smucker runs processing plants in Decatur, Alabama; Lawrence, Kansas; and Buffalo, New York, USA. Both a processing plant and distribution center are operated at locations in Topeka, Kansas, and Bloomsburg, Pennsylvania, USA. In addition to its own brands, Smucker produces and distributes private-label pet products and utilizes 16 co-packers and 12 re-packers in the U.S., Canada and Thailand.

Timeline of J.M. Smucker pet foods

2018 (April): Smucker will acquire Ainsworth Pet Nutrition and Rachel Ray's Nutrish. 2018 (March): The company recalls certain pet food brands over elevated levels of beef thyroid. 2018 (February): Smucker recalls certain pet food brands over pentobarbital. 2017: US$25 million research-and-development facility opens. 2016: Big Heart's corporate service center operations in Pittsburgh, Pennsylvania, USA, were consolidated with Smucker’s headquarters in Orrville, Ohio, USA. 2015 (March): J.M. Smucker Company completes acquisition of Big Heart Pet Brands for approximately US$5.9 billion. The cash and stock transaction value includes assumption of about US$2.6 billion of debt, which was refinanced at closing. As part of the acquisition, J.M. Smucker acquired a 50% equity interest in Natural Blend Vegetable Dehydration LLC and a 20% equity interest in Mountain Country Foods, LLC. Natural Blend is a privately owned producer and supplier of dehydrated sweet potato products to Big Heart co-manufacturers. Mountain Country Foods is a privately owned co-manufacturer of Big Heart pet products. 2014: Del Monte Foods Co. is now called Big Heart Pet Brands. 2013 (October): Del Monte sells its human food brands to a subsidiary, Del Monte Pacific, to focus on its pet products business and says it will rename the company accordingly. 2013 (May): Del Monte Foods and Natural Balance Pet Foods Inc. sign a merger agreement. 2011 (May): Del Monte Foods appoints new CEO, Dave West. 2011 (March): Del Monte Foods is acquired by an investor group led by funds affiliated with Kohlberg Kravis Roberts & Co. L.P., Vestar Capital Partners and Centerview Capital, L.P.

Key data on leading pet food companies

Petfood Industry's annual survey collects data on companies’ reported annual revenue, number of employees, brands, type of products offered, number of facilities and contact information (including address, phone number, emails and websites). The data is compiled in a convenient spreadsheet format, and is a valuable resource allowing users to sort, filter and analyze the information.

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50 leading pet food producers worldwide 2016-2019
30 leading US pet food producers 2016-2019
30 leading European pet food producers 2016-2019

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