UPDATE: Smucker Posts Rise In FQ2 Profit, Raises FY13 Forecast
J.M. Smucker Co (NYSE: SJM) reported a rise in its fiscal second-quarter profit.
Smucker's quarterly profit surged to $148.8 million, or $1.36 per share, versus $127.2 million, or $1.12 per share, in the year-earlier period. On an adjusted basis, Smucker earned $1.45 per share.
Its revenue climbed to $1.63 billion from $1.51 billion. However, analysts were expecting earnings of $1.45 per share on revenue of $1.63 billion.
Smucker now projects fiscal year 2013 adjusted earnings of $5.12 to $5.22 per share.
Smucker shares closed at $85.38 yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.