Smucker: Fiscal 2Q Earnings Snapshot
ORRVILLE, Ohio (AP) _ J.M. Smucker Co. (SJM) on Friday reported fiscal second-quarter net income of $211.2 million.
On a per-share basis, the Orrville, Ohio-based company said it had profit of $1.85. Earnings, adjusted for one-time gains and costs, were $2.26 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.
The food maker posted revenue of $1.96 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.99 billion.
Smucker expects full-year earnings in the range of $8.10 to $8.30 per share.
Smucker shares have increased 11% since the beginning of the year, while the Standard & Poor’s 500 index has risen 24%. The stock has declined 5% in the last 12 months.