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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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.