On Aug. 22, Smucker (NYSE:SJM) released its fiscal Q1 2006 earnings for the period ended July 31.
- Revenues were up 23.5% over the same period last year, helped again by the extra sales contributed from its International Multifoods acquisition -- but at a cost.
- Margins declined across the board, again like last year, contributing to an 8.8% decline in profits.
- The diluted share count rose 8.1%, largely because equity was issued to acquire International Multifoods. This further hurt year-on-year profits comparables.
(Figures in millions, except per-share data)
Income Statement Highlights (What's this?)
|
Avg. Est. |
Q1 2006 |
Q1 2005 |
% Change | |
|---|---|---|---|---|
|
Sales |
$516.3 |
$510.3 |
$413.3 |
+23.5% |
|
Net Profit |
- |
$29.9 |
$32.8 |
-8.8% |
|
EPS |
$0.63 |
$0.51 |
$0.60 |
-15.0% |
Margin Checkup (What's this?)
|
Q1 2006 |
Q1 2005 |
Change | |
|---|---|---|---|
|
Gross Margin |
32.3% |
34.9% |
-2.6% |
|
Op. Margin |
9.7% |
11.7% |
-2.0% |
|
Net Margin |
5.8% |
7.9% |
-2.1% |
Balance Sheet Highlights (What's this?)
|
Assets |
Q1 2006 |
Q1 2005 |
% Change |
|---|---|---|---|
|
Cash+ ST Invest. |
$67.5 |
$45.5 |
+48.4% |
|
Inventory |
$344.2 |
$328.1 |
+4.9% |
|
Accounts Rec. |
$161.3 |
$150.1 |
+7.5% |
|
Liabilities |
Q1 2006 |
Q1 2005 |
% Change |
|---|---|---|---|
|
Long-Term Debt |
$430.8 |
$451.1 |
-4.5% |
|
Accounts Pay.* |
$124.0 |
$199.5 |
-37.8% |
Related Companies:
- Unilever (NYSE:UN)
- Kraft (NYSE:KFT)
- ConAgra (NYSE:CAG)
- Ralcorp (NYSE:RAH)
- General Mills (NYSE:GIS)
- Kellogg (NYSE:K)
Related Foolishness:
- Stay alert -- mind Smucker's tendency to sugarcoat its news.
- Growth can be bought, but it's not necessarily a good deal.
- Read all about The Muck in Smucker.
Unilever is a Motley Fool Income Investor recommendation.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
At the time of publication, Fool contributor Rich Smith had positions in no company mentioned. Fool rules are here .
