J. M. Smucker (SJM) Q2 Earnings Top Estimates; Sales Lag

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The J. M. Smucker CompanySJM , a leading producer and marketer of branded food products worldwide, reported second-quarter fiscal 2017 adjusted earnings of $2.05 a share, which surpassed the Zacks Consensus Estimate of $1.94. Moreover, the bottom line rose 7.3% from $1.91 a share earned in the year-ago quarter.

Earnings Estimate Revision: The Zacks Consensus fiscal 2017 Estimate portrays a downtrend in the last 7 days. J. M. Smucker's performance in the trailing four quarters (including the quarter under review) gives a positive picture. The company outperformed the Zacks Consensus Estimate by an average of 19.2% in the trailing four quarters.

SMUCKER JM Price and EPS Surprise

SMUCKER JM Price and EPS Surprise | SMUCKER JM Quote

Revenues: J. M. Smucker generated net sales of $1,913.9 million that declined 8% year over year and lagged the Zacks Consensus Estimate of $2,001 million primarily due to the divestiture of its canned milk business, as well as fall in volume/mix and lower price realization. Excluding results of the divested business and currency headwinds, net sales were down 5%.

Outlook: Following the second quarter performance, J. M. Smucker reiterated its outlook for fiscal 2017. The company continues to envision adjusted earnings in a band of $7.60-$7.75 per share. Net sales are expected to decline 2 - 3%, with comparable sales in the range of flat to down 1%.

Zacks Rank: Currently, J. M. Smucker carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Check back later for our full write up on J. M. Smucker's earnings report!

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

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

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