163 annotations
while these inflation cycles are painful for manufacturers to go through to a degree, sometimes they're actually quite good for you because they become a catalyst for getting your pricing right and getting off of legacy promotions that customers are very attached to that are low profitability
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2023 Q3
18 Apr 23
these discrete issues suppressed our volume in Q3, the root causes have been largely resolved, and we expect volumes to rebound sequentially from here
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2023 Q3
18 Apr 23
a fire on our fish frying line as reported in our second quarter 10-Q
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2023 Q3
18 Apr 23
eliminating 10 for 10 promotions on both value tier vegetables and canned products such as Chef Boyardee and Hunt's Tomatoes
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2023 Q3
18 Apr 23
we continue to prune low-margin volume
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2023 Q3
18 Apr 23
with our company and where we were even 10 years ago because of the lack of innovation and because of legacy prices that were stuck at certain levels or, in some cases, decades, you saw that structural margins had drifted lower
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2023 Q3
18 Apr 23
You get hit with inflation, you take price, you don't reflect it right away, and therefore, you experience a lag, which compresses margins, but then pricing catches up and margins recover as you saw us start to do really materially in Q2.
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2023 Q3
18 Apr 23
we delivered 321 basis points of adjusted operating margin improvement in Q3 versus a year ago, while incurring incremental transitory costs in our Grocery & Snacks segment due to the supply chain challenges we've discussed
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2023 Q3
18 Apr 23
8% gross market inflation impacting our operating margins by 5.9% and a negative impact of 2.8% from market-based sourcing
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2023 Q3
18 Apr 23
We drove a 10.9% margin benefit from improved price/mix during the quarter and realized a 1.8% benefit from continued progress on our supply chain productivity initiatives.
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2023 Q3
18 Apr 23
The remaining one percentage point volume decline is mostly from the supply chain disruptions we've discussed.
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2023 Q3
18 Apr 23
elasticity explains approximately eight of the nine percentage points of the volume decline
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2023 Q3
18 Apr 23
While we're making good progress in supply chain, it's not back to normal and industry-wide challenges persist.
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2023 Q3
18 Apr 23
we also continue to make progress on our supply chain initiatives during the third quarter
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2023 Q3
18 Apr 23
The modest elasticities, which are well below historic norms and have remained consistent in the face of our inflation justified price increases are a testament to the strength of our brands, the execution of our pricing strategy and the limited impact of private label competition.
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2023 Q3
18 Apr 23
we are taking price again, I would say, more surgically in January
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2023 Q2
6 Jan 23
we are taking price again, I would say, more surgically in January
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2023 Q2
6 Jan 23
we are taking price again, I would say, more surgically in January
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2023 Q2
6 Jan 23
inflation has begun to moderate in certain areas enabling our inflation-justified pricing actions to catch up to the rising costs
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2023 Q2
6 Jan 23
organic net sales of more than $3.3 billion, representing an 8.6% increase over the prior year period.
Our adjusted gross margin of 28.2% represents a 310 basis point increase over the second quarter of last year. And our adjusted operating margin of 17% represents a 237 basis point increase over that same period. Adjusted EPS rose 26.6% from last year to $0.81 per share.
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2023 Q2
6 Jan 23