Consumer goods company J. M. Smucker Co. (SJM) reported Monday that profit for the second quarter declined seven percent from last year, hurt by lower margins, despite high single digit sales growth. However, both adjusted earnings per share quarterly net sales topped analysts' estimates. The company also raised its financial guidance for the full-year 2023.
The company noted that financial results for the latest quarter also reflect the divestitures of the natural beverage and grains businesses on January 31, 2022, and the private label dry pet food business on December 1, 2021.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.