Smucker outlook slams stock

Investor's Business Daily

Jelly, peanut butter and coffee maker J.M. Smucker (SJM) said fiscal Q4 EPS rose 17% to $1.29, beating analysts' estimates by 13 cents as the company contained costs. But sales fell 1% to $1.34 bil, its first decline in years and just below forecasts. The company projected profit for the current fiscal year of $5.65-$5.75, the midpoint slightly below consensus of $5.73. Sales in its U.S. Retail Coffee segment fell 1%, despite higher sales of its Folgers brand and premium Dunkin' Donuts brand. Shares fell 4%.

View Comments (0)