JM Smucker Adds 5% After Q1 Earnings
J.M. Smucker (NYSE: SJM) shares have risen better than 5 percent during Friday's trading session. The company released its first-quarter earnings results prior to the opening bell on Friday morning. J.M. Smucker reported net income of $1.17 per share, compared to $1.12 per share in the year ago period. This came in ahead of Wall Street analysts' consensus EPS estimates of $1.00.
Net sales in the quarter were up 15 percent to $1.37 billion. This came in ahead of Wall Street consensus estimates of $1.30 billion.
The company reaffirmed its previous guidance of adjusted income per share of $5.00 to $5.10 for the fiscal year.
J.M. Smucker also still expects net sales to be up around 7 percent versus last year's $5.53 billion. Wall Street analysts currently expect the company to report EPS of $5.10 on revenues of $5.89 billion for the first year.
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