Subtext

The J. M. Smucker Company SJM

SectorConsumer Staples
Transcripts70
Date range2007-08-17 – 2025-02-27
Calls charted70

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-16-8+0+8+162008 Q12010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12008 Q1 · Overall: +13.72008 Q2 · Overall: +7.22008 Q3 · Overall: +11.92008 Q4 · Overall: +9.72009 Q1 · Overall: +14.12009 Q2 · Overall: +2.12009 Q3 · Overall: +3.02009 Q4 · Overall: +6.82010 Q1 · Overall: +8.72010 Q2 · Overall: +6.92010 Q3 · Overall: +7.02011 Q1 · Overall: +7.22011 Q2 · Overall: +4.22011 Q3 · Overall: +7.12011 Q4 · Overall: +6.62012 Q1 · Overall: +1.92012 Q2 · Overall: +9.32012 Q3 · Overall: +1.22012 Q4 · Overall: +4.42013 Q1 · Overall: +10.22013 Q2 · Overall: +6.72013 Q3 · Overall: +7.22013 Q4 · Overall: +6.22014 Q1 · Overall: +8.82014 Q2 · Overall: +4.22014 Q3 · Overall: +10.22014 Q4 · Overall: +9.52015 Q1 · Overall: +10.32015 Q2 · Overall: +3.22015 Q3 · Overall: +8.22015 Q4 · Overall: +9.92016 Q1 · Overall: +11.92016 Q2 · Overall: +8.02016 Q3 · Overall: +8.12016 Q4 · Overall: +9.42017 Q1 · Overall: +3.82017 Q2 · Overall: +5.42017 Q3 · Overall: +6.42017 Q4 · Overall: +8.52018 Q1 · Overall: +4.12018 Q2 · Overall: +12.02018 Q3 · Overall: +6.02018 Q4 · Overall: +10.02019 Q1 · Overall: +6.12019 Q2 · Overall: +0.52019 Q3 · Overall: +5.42019 Q4 · Overall: +10.82020 Q1 · Overall: +1.92020 Q2 · Overall: +3.22020 Q3 · Overall: +4.72020 Q4 · Overall: +5.72021 Q1 · Overall: +6.12021 Q2 · Overall: +8.12021 Q3 · Overall: +6.02021 Q4 · Overall: +4.52022 Q1 · Overall: -2.22022 Q2 · Overall: +4.72022 Q3 · Overall: +3.12022 Q4 · Overall: -1.52023 Q1 · Overall: +5.62023 Q2 · Overall: +11.02023 Q3 · Overall: +6.42023 Q4 · Overall: +11.82024 Q1 · Overall: -1.72024 Q2 · Overall: +10.82024 Q3 · Overall: +9.42024 Q4 · Overall: +12.72025 Q1 · Overall: +9.42025 Q2 · Overall: +3.92025 Q3 · Overall: +5.7
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-39-20+0+20+392008 Q12010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12008 Q1 · CEO: +26.22008 Q2 · CEO: +17.52008 Q3 · CEO: +20.22008 Q4 · CEO: +30.92009 Q1 · CEO: +31.32009 Q2 · CEO: +25.02009 Q3 · CEO: +18.62009 Q4 · CEO: +20.42010 Q1 · CEO: +17.22010 Q2 · CEO: +16.32010 Q3 · CEO: +22.52011 Q1 · CEO: +13.82011 Q2 · CEO: +11.72011 Q3 · CEO: +19.92011 Q4 · CEO: +25.32012 Q1 · CEO: +10.62012 Q2 · CEO: +18.02012 Q3 · CEO: +9.42012 Q4 · CEO: +22.82013 Q1 · CEO: +25.62013 Q2 · CEO: +12.72013 Q3 · CEO: +21.62013 Q4 · CEO: +28.02014 Q1 · CEO: +13.22014 Q2 · CEO: +7.32014 Q3 · CEO: +23.82014 Q4 · CEO: +21.82015 Q1 · CEO: +25.62015 Q2 · CEO: +17.22015 Q3 · CEO: +17.22015 Q4 · CEO: +24.32016 Q1 · CEO: +23.72016 Q2 · CEO: +28.02016 Q3 · CEO: +20.92016 Q4 · CEO: +21.22017 Q1 · CEO: +19.12017 Q2 · CEO: +17.52017 Q3 · CEO: +21.62017 Q4 · CEO: +20.42018 Q1 · CEO: +20.72018 Q2 · CEO: +26.92018 Q3 · CEO: +16.02018 Q4 · CEO: +19.52019 Q1 · CEO: +19.42019 Q2 · CEO: +8.52019 Q3 · CEO: +21.92019 Q4 · CEO: +26.02020 Q1 · CEO: +9.42020 Q2 · CEO: +14.62020 Q3 · CEO: +16.12020 Q4 · CEO: +12.42021 Q1 · CEO: +15.02021 Q2 · CEO: +16.92021 Q3 · CEO: +23.72021 Q4 · CEO: +16.62022 Q2 · CEO: +4.52022 Q3 · CEO: +19.62022 Q4 · CEO: +6.92023 Q1 · CEO: +16.32023 Q2 · CEO: +33.92023 Q3 · CEO: +18.42023 Q4 · CEO: +26.02024 Q1 · CEO: +16.42024 Q2 · CEO: +34.22024 Q3 · CEO: +24.12024 Q4 · CEO: +29.02025 Q1 · CEO: +18.22025 Q2 · CEO: +18.02025 Q3 · CEO: +22.22008 Q3 · CFO: +5.22008 Q4 · CFO: -5.72009 Q1 · CFO: +0.62009 Q2 · CFO: -6.42009 Q3 · CFO: +0.92009 Q4 · CFO: +4.22010 Q1 · CFO: +8.02010 Q2 · CFO: +6.22010 Q3 · CFO: +4.22011 Q2 · CFO: -2.02011 Q3 · CFO: +6.62011 Q4 · CFO: -1.32012 Q1 · CFO: +8.02012 Q2 · CFO: +6.72012 Q3 · CFO: -1.92012 Q4 · CFO: -2.32013 Q1 · CFO: +8.22013 Q2 · CFO: +1.22013 Q3 · CFO: +4.92013 Q4 · CFO: +1.92014 Q1 · CFO: +9.12014 Q2 · CFO: +4.62014 Q3 · CFO: +4.12014 Q4 · CFO: +3.62015 Q1 · CFO: +2.42015 Q2 · CFO: +1.02015 Q3 · CFO: +4.22015 Q4 · CFO: +9.72016 Q2 · CFO: +5.22016 Q4 · CFO: +1.72017 Q1 · CFO: -1.32017 Q2 · CFO: +0.02017 Q3 · CFO: -5.52017 Q4 · CFO: +4.32018 Q1 · CFO: -0.42018 Q2 · CFO: +8.42018 Q3 · CFO: +7.82018 Q4 · CFO: +5.92019 Q1 · CFO: -4.92019 Q2 · CFO: -0.92019 Q3 · CFO: -1.92019 Q4 · CFO: +5.22020 Q1 · CFO: +1.32020 Q2 · CFO: -1.92020 Q3 · CFO: -0.42020 Q4 · CFO: +4.22021 Q1 · CFO: +4.12021 Q2 · CFO: +3.22021 Q3 · CFO: -0.42021 Q4 · CFO: -2.22022 Q2 · CFO: +7.42022 Q3 · CFO: +5.72022 Q4 · CFO: +4.12023 Q1 · CFO: +13.12023 Q2 · CFO: -5.32023 Q3 · CFO: +13.32023 Q4 · CFO: +0.02024 Q1 · CFO: +0.02024 Q2 · CFO: +2.62024 Q3 · CFO: +14.62024 Q4 · CFO: -1.72025 Q1 · CFO: +21.02025 Q2 · CFO: +7.72025 Q3 · CFO: -9.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-46-23+0+23+462008 Q12010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12008 Q1 · Prepared remarks: +24.92008 Q2 · Prepared remarks: +19.12008 Q3 · Prepared remarks: +19.92008 Q4 · Prepared remarks: +17.72009 Q1 · Prepared remarks: +19.62009 Q2 · Prepared remarks: +8.52009 Q3 · Prepared remarks: +12.22009 Q4 · Prepared remarks: +14.42010 Q1 · Prepared remarks: +12.52010 Q2 · Prepared remarks: +12.12010 Q3 · Prepared remarks: +13.42011 Q1 · Prepared remarks: +9.02011 Q2 · Prepared remarks: +4.92011 Q3 · Prepared remarks: +12.82011 Q4 · Prepared remarks: +19.52012 Q1 · Prepared remarks: +8.92012 Q2 · Prepared remarks: +9.62012 Q3 · Prepared remarks: +4.82012 Q4 · Prepared remarks: +14.42013 Q1 · Prepared remarks: +21.62013 Q2 · Prepared remarks: +14.22013 Q3 · Prepared remarks: +15.82013 Q4 · Prepared remarks: +14.62014 Q1 · Prepared remarks: +17.62014 Q2 · Prepared remarks: +9.42014 Q3 · Prepared remarks: +17.22014 Q4 · Prepared remarks: +15.62015 Q1 · Prepared remarks: +16.62015 Q2 · Prepared remarks: +9.92015 Q3 · Prepared remarks: +10.32015 Q4 · Prepared remarks: +17.72016 Q1 · Prepared remarks: +14.52016 Q2 · Prepared remarks: +15.82016 Q3 · Prepared remarks: +15.32016 Q4 · Prepared remarks: +16.72017 Q1 · Prepared remarks: +8.02017 Q2 · Prepared remarks: +6.02017 Q3 · Prepared remarks: -3.42017 Q4 · Prepared remarks: +15.02018 Q1 · Prepared remarks: +10.02018 Q2 · Prepared remarks: +18.52018 Q3 · Prepared remarks: +15.32018 Q4 · Prepared remarks: +11.82019 Q1 · Prepared remarks: +6.72019 Q2 · Prepared remarks: +4.32019 Q3 · Prepared remarks: +15.52019 Q4 · Prepared remarks: +14.42020 Q1 · Prepared remarks: +3.42020 Q2 · Prepared remarks: +8.42020 Q3 · Prepared remarks: +11.72020 Q4 · Prepared remarks: +9.12021 Q1 · Prepared remarks: +8.32021 Q2 · Prepared remarks: +12.52021 Q3 · Prepared remarks: +12.72021 Q4 · Prepared remarks: +5.32022 Q1 · Prepared remarks: +0.02022 Q2 · Prepared remarks: -11.22022 Q3 · Prepared remarks: -11.32022 Q4 · Prepared remarks: -11.52023 Q1 · Prepared remarks: -10.92023 Q2 · Prepared remarks: +11.02023 Q3 · Prepared remarks: -11.42023 Q4 · Prepared remarks: +11.82024 Q1 · Prepared remarks: -11.12024 Q2 · Prepared remarks: -11.52024 Q3 · Prepared remarks: -11.42024 Q4 · Prepared remarks: +12.72025 Q1 · Prepared remarks: -11.42025 Q2 · Prepared remarks: -11.52025 Q3 · Prepared remarks: +5.72008 Q1 · Q&A responses: +8.62008 Q2 · Q&A responses: -0.82008 Q3 · Q&A responses: +7.72008 Q4 · Q&A responses: +5.52009 Q1 · Q&A responses: +10.02009 Q2 · Q&A responses: -0.52009 Q3 · Q&A responses: +0.92009 Q4 · Q&A responses: +8.52010 Q1 · Q&A responses: +12.22010 Q2 · Q&A responses: +7.92010 Q3 · Q&A responses: +5.62011 Q1 · Q&A responses: +6.42011 Q2 · Q&A responses: +4.72011 Q3 · Q&A responses: +6.72011 Q4 · Q&A responses: +3.42012 Q1 · Q&A responses: +2.72012 Q2 · Q&A responses: +40.02012 Q3 · Q&A responses: +3.52012 Q4 · Q&A responses: +4.32013 Q1 · Q&A responses: +5.92013 Q2 · Q&A responses: +5.82013 Q3 · Q&A responses: +6.32013 Q4 · Q&A responses: +6.02014 Q1 · Q&A responses: +10.82014 Q2 · Q&A responses: +2.62014 Q3 · Q&A responses: +11.32014 Q4 · Q&A responses: +8.92015 Q1 · Q&A responses: +13.62015 Q2 · Q&A responses: +8.92015 Q3 · Q&A responses: +12.52015 Q4 · Q&A responses: +7.62016 Q1 · Q&A responses: +17.92016 Q2 · Q&A responses: +10.02016 Q3 · Q&A responses: +8.02016 Q4 · Q&A responses: +9.52017 Q1 · Q&A responses: +9.12017 Q2 · Q&A responses: +7.92017 Q3 · Q&A responses: +15.42017 Q4 · Q&A responses: +10.52018 Q1 · Q&A responses: +7.42018 Q2 · Q&A responses: +11.12018 Q3 · Q&A responses: +8.02018 Q4 · Q&A responses: +15.42019 Q1 · Q&A responses: +10.12019 Q2 · Q&A responses: +6.52019 Q3 · Q&A responses: +6.42019 Q4 · Q&A responses: +16.82020 Q1 · Q&A responses: +7.92020 Q2 · Q&A responses: +5.22020 Q3 · Q&A responses: +5.62020 Q4 · Q&A responses: +8.22021 Q1 · Q&A responses: +11.72021 Q2 · Q&A responses: +11.02021 Q3 · Q&A responses: +11.42021 Q4 · Q&A responses: +9.52022 Q1 · Q&A responses: +7.22022 Q2 · Q&A responses: +5.62022 Q3 · Q&A responses: +10.82022 Q4 · Q&A responses: +5.52023 Q1 · Q&A responses: +15.82023 Q3 · Q&A responses: +16.22024 Q1 · Q&A responses: +9.72024 Q2 · Q&A responses: +21.62024 Q3 · Q&A responses: +19.02025 Q1 · Q&A responses: +19.72025 Q2 · Q&A responses: +14.0
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$5.41$8.05$10.692008 Q12010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12014 Q1: $5.992014 Q2: $6.092014 Q3: $6.192014 Q4: $5.822015 Q1: $5.772015 Q2: $5.832015 Q3: $6.042015 Q4: $6.202016 Q1: $6.302016 Q2: $7.792016 Q3: $7.902016 Q4: $7.972017 Q1: $7.962017 Q2: $8.022017 Q3: $7.892017 Q4: $8.042018 Q1: $9.062018 Q2: $8.512018 Q3: $8.482018 Q4: $8.182019 Q1: $8.292019 Q2: $8.552019 Q3: $8.442019 Q4: $8.202020 Q1: $8.242020 Q2: $8.232020 Q3: $8.602020 Q4: $8.422021 Q1: $8.662021 Q2: $8.892021 Q3: $8.622021 Q4: $8.922022 Q1: $8.872022 Q2: $8.242022 Q3: $8.972022 Q4: $9.322023 Q1: $9.362023 Q2: $9.542023 Q3: $9.942023 Q4: $9.982024 Q1: $10.212024 Q2: $10.172024 Q3: $10.112024 Q4: $10.33

Forward P/E

9.8815.5821.282008 Q12010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12014 Q1: 16.042014 Q2: 17.522014 Q3: 16.122014 Q4: 17.252015 Q1: 19.502015 Q2: 19.332015 Q3: 19.472015 Q4: 20.002016 Q1: 20.492016 Q2: 18.422016 Q3: 17.342016 Q4: 16.082017 Q1: 17.482017 Q2: 15.902017 Q3: 13.572017 Q4: 14.702018 Q1: 14.432018 Q2: 12.202018 Q3: 12.872018 Q4: 11.852019 Q1: 12.452019 Q2: 14.132019 Q3: 12.902019 Q4: 12.592020 Q1: 14.432020 Q2: 13.252020 Q3: 12.882020 Q4: 13.512021 Q1: 14.332021 Q2: 15.042021 Q3: 14.142021 Q4: 15.102022 Q1: 14.582022 Q2: 15.192022 Q3: 15.512022 Q4: 16.542023 Q1: 16.412023 Q2: 15.982023 Q3: 12.932023 Q4: 12.702024 Q1: 12.122024 Q2: 11.052024 Q3: 11.912024 Q4: 10.67

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q2 tone ↓ -4.5 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q2 tone ↓ -7.1 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -3.9 fwd EPS ↑ +1.49 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -4.4 fwd EPS ↑ +1.03 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↑ +7.9 fwd EPS ↓ -0.55 Tone rose while the forward EPS estimate was cut.
  • 2018 Q4 tone ↑ +4.0 fwd EPS ↓ -0.31 Tone rose while the forward EPS estimate was cut.
  • 2019 Q1 tone ↓ -3.9 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q2 tone ↓ -5.6 fwd EPS ↑ +0.26 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↑ +4.9 fwd EPS ↓ -0.12 Tone rose while the forward EPS estimate was cut.
  • 2019 Q4 tone ↑ +5.4 fwd EPS ↓ -0.24 Tone rose while the forward EPS estimate was cut.
  • 2022 Q2 tone ↑ +6.9 fwd EPS ↓ -0.63 Tone rose while the forward EPS estimate was cut.
  • 2022 Q4 tone ↓ -4.6 fwd EPS ↑ +0.35 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -4.6 fwd EPS ↑ +0.39 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -13.6 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q32025-02-27+5.7——View →
2025 Q22024-11-26+3.9——View →
2025 Q12024-08-28+9.4——View →
2024 Q42024-06-06+12.7$10.3310.7View →
2024 Q32024-02-27+9.4$10.1111.9View →
2024 Q22023-12-05+10.8$10.1711.1View →
2024 Q12023-08-29-1.7$10.2112.1View →
2023 Q42023-06-06+11.8$9.9812.7View →