UPDATE: Smucker Posts Rise In Q1 Adjusted Profit

J.M. Smucker Co

reported a 1% drop in its first-quarter profit. Smucker's quarterly profit fell to $111 million, or $1 per share, versus $111.5 million, or $0.98 per share, in the year-earlier period. Its adjusted profit rose to $1.17 per share, versus $1.12 per share. Smucker's sales climbed 15% to $1.37 billion. However, analysts were expecting earnings of $1 per share and sales of $1.30 billion. Smucker shares closed at $78.97 yesterday.