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SJM

J.M. Smucker (SJM) Beats on Q1 Earnings; Sales Lag

The J. M. Smucker CompanySJM engages in the manufacture and marketing of branded food products worldwide. The company's primary products include coffee, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, and canned milk.

Strong organic sales growth, product innovation and constant efforts to expand through acquisitions have remained the company's strong points over the past several quarters. The divestiture of its US canned milk brands and operations to Eagle Family Foods Group will allow the company to focus on the key brands and growth opportunities. Encouragingly, the company will witness growth in coffee volumes in the coming quarters owing to lower coffee price and increase from sales of Dunkin Donuts K-Cup pods.

Investors should also note the recent earnings estimate revisions for SJM, as the consensus estimate has been going upwards over the past 30 days. SJM has a mixed earnings history. SJM has delivered positive surprise in all the last four quarters, making for an average positive surprise of 19.93%.

Currently, SJM has a Zacks Rank #3 (Hold), but that could definitely change following Smucker's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: SJM posted adjusted earnings of $1.86 per share, significantly beating our consensus of $1.75 per share. Investors should note that these figures take out stock option expenses.

Revenue: SJM posted revenues of $1.816 billion, missing our consensus estimate of $1.884 billion.

Key Stats to Note: The company maintained its full-year fiscal 2017 earnings outlook, with adjusted earnings per share expected to range from $7.60 to $7.75.

Stock Price: Shares increased 0.49% in pre-market trading .

Check back later for our full write up on this SJM earnings report later!

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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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