J. M. Smucker Q3 Profit Rises Above Estimates; Revises Earlier Outlook - Update

(Adds Outlook)

The J. M. Smucker Company (SJM) released a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $208.5 million, or $1.95 per share. This compares with $69.7 million, or $0.64 per share, in last year's third quarter.

Excluding items, The J. M. Smucker Company reported adjusted earnings of $236.8 million or $2.21 per share for the period.

Analysts on average had expected the company to earn $2.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.7% to $2.216 billion from $2.057 billion last year.


For the full year, company has revised its previous earnings outlook. SJM now expects adjusted income per share of $8.55-$8.75 against its previous guidance of $8.35 - $8.75 per share. Fifteen analysts, on average, polled by Thomson Reuters, expect the company to post income per share of $8.6. Analysts' estimates typically exclude special items.  For the year, SJM now expects a net sales growth of 6 percent, versus previous expectation of 5.5 percent to 6.5 percent.

The J. M. Smucker Company Q3 earnings at a glance (GAAP) :

-Earnings (Q3): $208.5 Mln. vs. $69.7 Mln. last year.
-EPS (Q3): $1.95 vs. $0.64 last year.
-Analyst Estimate: $2.12
-Revenue (Q3): $2.216 Bln vs. $2.057 Bln last year.

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