Diverse provider The J.M. Smucker Co. recently announced results for its third quarter, which ended January 31, 2023, of its 2023 fiscal year. In it, the company announced its net sales increased by $159.2 million, or 8 percent.
“Our third quarter results reflect the strong underlying momentum of our business, supported by robust demand for our leading brands and the continued focus on executing with excellence,” said Mark Smucker, Chair of the Board, President and Chief Executive Officer. “We continue to deliver solid results in this dynamic environment, including another quarter of organic top-line growth across all of our businesses and sequential gross margin improvement.”
According to the release, J.M. Smucker’s results reflect the divestitures of the natural beverage and grains businesses on January 31, 2022, and the private label dry pet food business on December 1, 2021.
“Looking ahead, we will continue to advance our strategic priorities, which have supported our commitment to enhanced prioritization, improved profitability and product mix, and greater organizational agility, positioning us to deliver consistent top-and bottom-line growth and shareholder value,” continued Smucker. “This includes our continuous work to optimize our portfolio, as reflected in the recently announced divestiture of several pet food brands, which will allow us to focus on those areas of the business with the greatest growth potential.”
Click here to learn more about its results.
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