logo
  

J.M. Smucker Posts Upbeat Q3 Results; Raises Full-year View- Quick Facts

Food and beverage maker The J.M. Smucker Co. (SJM) reported its third-quarter earnings of $261.5 million or $2.32 per share, up from $187.4 million or $1.64 per share in the comparable quarter last year.

Excluding items, adjusted earnings of $2.45 per share beat the average estimate of analysts polled by Thomson Reuters at $2.19 per share. Analysts' estimates typically exclude special items.

Net sales in the quarter also increased to $2.077 billion from $1.972 billion in the same quarter a year ago. The consensus estimate was for $2 billion.

Looking forward to the full year 2021, the company raised its earnings as well sales growth outlook.

The company now expects 2021 revenue growth of 2%, up from 0% - 1% rise provided earlier and adjusted earnings per share are expected between $8.70 and $8.90 compared with prior guidance of $8.35 to $8.65.

On average 13 analysts expect the company to report earnings of $8.73 per share on revenue of $7.83 billion for the period.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
McDonald's says equal pay for women is just the beginning, while conforming that the fast-food giant pays women globally 99.85 cents on the dollar for similar work, taking into account legitimate pay drivers such as level, location, experience, and performance. The company added that it is on track to close that identified gap in 2022. Verizon Communications Inc. (VZ) said, on an adjusted basis, its third-quarter earnings per share rose 12.8 percent from a year ago. The company said its earnings were highlighted by revenue and customer growth as more than one in four Consumer wireless phone customers now have a 5G-capable device. The... While reporting financial results for the third quarter on Wednesday, Abbott Laboratories (ABT) raised its earnings and adjusted earnings guidance for the full-year 2021. For fiscal 2021, the company continues to project earnings from continuing operations in a range of $3.55 to $3.6 per share and...
Follow RTT