Smucker: Fiscal 4Q Earnings Snapshot
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.