Loading...
Loading...
- J M Smucker Co SJM reported second-quarter FY23 sales growth of 8% year-on-year to $2.21 billion, beating the consensus of $2.17 billion.
- Net sales, excluding divestitures and foreign currency exchange, increased 11%.
- Adjusted EPS of $2.40 beat the analyst consensus of $2.19.
- Gross profit decreased 1% Y/Y to $701.1 million and the gross margin contracted by 290 basis points to 31.8%.
- The operating margin contracted 190 basis points to 13.3%, and operating income for the quarter fell 6% to $293.4 million.
- The company held $27.1 million in cash and equivalents as of October 31, 2022. Cash provided by operating activities totaled $205 million, with a free cash flow of $102.9 million.
- Outlook: J M Smucker raised FY23 adjusted EPS from $8.20 - $8.60 to $8.35 - $8.75 (consensus $8.49). It raised sales growth outlook from 4% - 5% to 5.5% - 6.5%.
- Price Action: SJM shares are trading higher by 0.59% at $147.00 in premarket on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in