AP NEWS

Smucker: Fiscal 4Q Earnings Snapshot

June 6, 2019

ORRVILLE, Ohio (AP) _ J.M. Smucker Co. (SJM) on Thursday reported fiscal fourth-quarter earnings of $71.5 million.

The Orrville, Ohio-based company said it had profit of 63 cents per share. Earnings, adjusted for one-time gains and costs, were $2.08 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.

The food maker posted revenue of $1.9 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.94 billion.

For the year, the company reported profit of $514.4 million, or $4.52 per share. Revenue was reported as $7.84 billion.

Smucker expects full-year earnings in the range of $8.45 to $8.65 per share.

Smucker shares have climbed 34% since the beginning of the year, while the Standard & Poor’s 500 index has increased 13%. The stock has risen 18% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SJM at https://www.zacks.com/ap/SJM

All contents © copyright 2019 The Associated Press.All rights reserved.