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J. M. Smucker Boosts FY22 Adj. EPS Outlook - Quick Facts

While reporting financial results for the first quarter of fiscal 2022 on Thursday, consumer goods company J. M. Smucker Co. (SJM) slashed its adjusted earnings guidance for the full-year 2022, while slightly raising net sales growth outlook.

For fiscal 2022, the company now projects adjusted earnings in a range of $8.25 to $8.65 per share on a net sales decline of 2.5 to 1.5 percent. On a comparable basis, net sales are expected to increase approximately 2.5 percent at the mid-point of the net sales guidance range.

Previously, the company expected 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 were expected to increase approximately 2 percent at the mid-point of the net sales guidance range.

On average, 16 analysts polled by Thomson Reuters expect the company to report earnings of $8.84 per share on a sales decline of 3.3 percent to $7.74 billion for the year. Analysts' estimates typically exclude special items.

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