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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
German sportswear company Adidas AG said Wednesday it will withdraw its request to block the application by the Black Lives Matter movement to trademark a yellow three-stripe design similar to Adidas' branding. This move by Adidas comes just 48 hours after it had filed an objection to the U.S. Patent and Trademark Office against the use of the three parallel stripes design. Generative artificial intelligence or AI technologies, including the highly popular ChatGPT, could expose around 300 million full-time jobs around the world to automation, a report by Goldman Sachs predicts, deepening the rising fears about job security. According to a new research report by GS economists, "The Potentially Large Effects of Artificial Intelligence on Economic Growth",.. UBS Group AG has called back its former Chief Executive Officer Sergio Ermotti to lead the Swiss banking giant amid the new challenges and priorities it faces following its planned acquisition of troubled domestic rival Credit Suisse Group AG. Following the news, UBS shares were gaining more than 2 percent in Swiss trading as well as in pre-market activity on the NYSE.
Follow RTT