J. M. Smucker Guides FY22 Above Estimates - Quick Facts

While reporting financial results for the fourth quarter and fiscal 2021 on Thursday, consumer goods company J. M. Smucker Co. (SJM) initiated its adjusted earnings and net sales growth guidance for the full-year 2022, above analysts estimates.

For fiscal 2022, the company now projects adjusted earnings in a range of $8.70 to $9.10 per share on a net sales decline of 3 to 2 percent. On a comparable basis, net sales are expected to increase approximately 2 percent at the mid-point of the net sales guidance range.

On average, 14 analysts polled by Thomson Reuters expect the company to report earnings of $8.60 per share on a sales decline of 5.5 percent to $7.52 billion for the year. Analysts' estimates typically exclude special items.

While the broader outlook remains uncertain, the company said it continues to focus on managing the elements it can control, including taking the necessary steps to minimize the impact of cost inflation and any business disruption.

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Precision care innovator GE HealthCare Technologies, Inc., recently spun-off from General Electric Co., reported on Monday that profit for the fourth quarter declined from last year, reflecting higher interest and other financial charges. The company also initiated adjusted earnings guidance for the full-year 2023. Japanese auto major Toyota Motor Corp. has retained its title as the world's top selling automaker in fiscal 2022 for the third straight year, by selling around 10.5 million vehicles. The global sales were nearly flat with last year amid solid demand centered around Asia, while global production grew with increased capacity and production optimization in North America and Asia. Dutch consumer electronics giant Philips Electronics NV reported Monday a loss in its fourth quarter, compared to prior year's profit, even as sales increased. The company further declared a dividend, and said its order book remains strong. Going ahead, the company projects comparable sales growth in fiscal 2023, 2025, and beyond.
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