Smucker: Fiscal 1Q Earnings Snapshot
ORRVILLE, Ohio (AP) _ J.M. Smucker Co. (SJM) on Tuesday reported fiscal first-quarter profit of $154.6 million.
The Orrville, Ohio-based company said it had profit of $1.36 per share. Earnings, adjusted for one-time gains and costs, came to $1.58 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.
The food maker posted revenue of $1.78 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.89 billion.
Smucker expects full-year earnings in the range of $8.35 to $8.55 per share.
Smucker shares have climbed 21% since the beginning of the year, while the Standard & Poor’s 500 index has risen 15%. The stock has risen slightly more than 7% in the last 12 months.