JM Smucker Adds 5% After Q1 Earnings

By Benzinga,  August 17, 2012, 04:02:25 PM EDT

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.

(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: SJM



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