logo
Plus   Neg
Share
Email

J. M. Smucker Co Updates FY18 Guidance - Quick Facts

The J. M. Smucker Company (SJM) announced, for fiscal 2018, the company now expects adjusted earnings per share in a range of $8.20 - $8.30, up from prior outlook of $7.75 - $7.90. Free cash flow is now projected to be $825 million, revised from prior guidance of $775 million. Net sales are expected to be in the range of flat to down slightly, compared to the prior year.

The company said the increase in earnings and cash flow guidance primarily reflects the benefit of a lower effective tax rate as a result of U.S. income tax reform, partially offset by anticipated freight cost increases and a charge related to obsolete inventory in the third quarter. The guidance also excludes any potential impact following completion of the company's previously announced definitive agreement to acquire the Wesson oil brand from Conagra Brands.

Third-quarter adjusted earnings per share was $2.50, an increase of 25 percent, including approximately $0.35 per share related to a lower current year tax rate due to U.S. income tax reform. Net sales increased 1 percent, reflecting growth across most of the company's key brands and categories.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of General Electric Co. are rising more than 10 percent on Thursday after the industrial conglomerate said it plans to establish a new, independent company focused on building a comprehensive Industrial Internet of Things or IIoT software portfolio. In addition, longtime bearish analyst Stephen Tusa of J.P. Morgan upgraded shares of GE to neutral. Apple Inc. said Thursday that it will invest $1 billion to build a new corporate campus in North Austin that will eventually create 15,000 jobs. Further, the tech giant announced plans to establish new offices and expand to over 1,000 employees each in three cities - Seattle, San Diego and Culver City, California. In January, Apple said it will create over 20,000 jobs over the next five years. German telecom giant Deutsche Telekom, Chinese conglomerate Alibaba's Alibaba Cloud, banking giant Citi and 13 other organizations have joined Hyperledger Blockchain project, an open source collaborative effort aimed to advance cross-industry blockchain technologies. Hyperledger, a project of The Linux Foundation that started less than three years ago, is a multi-project.
Follow RTT