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The J. M. Smucker Company Message Board

  • adspatz adspatz Nov 20, 2013 11:12 AM Flag

    Smucker’s earnings rise but disappoint

    Search for "SEC Live Filings Digest" to find out more.
    The J. M. Smucker Company (SJM) announced its second quarter financial results for fiscal 2014, reporting a small increase in earnings that disappointed expectations. The company, which operates under several trademarks outside of its namesake, includes Jif, Folgers, Dunkin Donuts, and Crisco, reported a 4.2% decrease in sales. Sales of $1.56B, though lower than a year ago, are the result of lower commodity prices, while volumes increased. Earnings were up from $148.8M and $1.36 per share to $153.4M and $1.46 per share while its gross margin improved from 33.3% to 35.4%. Smucker lowered its earnings guidance for the year, now predicting a 2% decline from last year instead of its first-predicted 1% decline.

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