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The J.M. Smucker Co. (NYSE:SJM ) Q2 2024 Earnings Conference Call December 5, 2023 9:00 AM ET Company Participants Aaron Broholm - Vice President of Investor Relations Tucker Marshall - Chief Financial Officer Mark Smucker - Chair of the Board, President & Chief Executive Officer Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JP Morgan Robert Moskow - TD Cowen Peter Galbo - Bank of America Matt Smith - Stifel Jason English - Goldman Sachs Rob Dickerson - Jefferies Operator Good morning and welcome to The J.M. Smucker Company's Fiscal 2024 Second Quarter Earnings question-and-answer session.

Mark Smucker, J.M. Smucker Co. CEO, joins 'Squawk Box' to discuss the company's quarterly earnings results, the state of the consumer, impact of inflation, and more.

JM Smucker Co reported an increase in underlying second quarter sales boosted by higher prices.  The maker of Jif peanut butter said total sales in the quarter ended October 31 decreased 12% to $266.5 million reflecting disposals last year, while comparable sales rose 7%.

J.M. Smucker Co.'s stock SJM, +0.91% rose about 1% in premarket trade Tuesday, after the parent of Folgers coffee and Jif peanut butter beat profit estimates for the third quarter, while sales fell slightly short and it lowered its full-year guidance. Orrville, Ohio-based Smucker had net income of $194.9 million, or $1.91 a share, for the quarter, up from $191.1 million, or $1.79 a share, in the year-earlier period.

Get a deeper insight into the potential performance of Smucker (SJM) for the quarter ended October 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

The J.M. Smucker's (SJM) second-quarter results are likely to reflect gains from core priorities. The recent divestiture of certain pet food brands is expected to have an impact.

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The J.M. Smucker (SJM) acquires Hostess Brands to increase its presence. Management forms a new strategic business area to support its expanded brand portfolio.

Smucker (SJM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

J.M. Smucker (SJM) benefits from its focus on core priorities, including portfolio refinement. Efficient pricing aids amid high costs.