J M Smucker earnings for the company’s fiscal third quarter of 2019 has SJM stock heading higher on Tuesday.
J M Smucker (NYSE:SJM) reported earnings per share of $2.26 for its fiscal third quarter of the year. This is down from its earnings per share of $2.50 from its fiscal third quarter of 2018. However, it was still good news for SJM stock by beating out Wall Street’s earnings per share estimate of $2.02 for the period.
Net income reported in the J M Smucker earnings release for its fiscal third quarter of 2019 comes in at $121.40 million. The food production company’s net income from the same period of the year prior was $831.30 million.
Operating income from the J M Smucker earnings report for the fiscal third quarter of the year was $217.60 million. This is an increase over the company’s operating income of $164.00 million from its fiscal third quarter of the previous year.
The J M Smucker earnings report for its fiscal third quarter of 2019 also includes revenue of $2.01 billion. This is better than the company’s revenue of $1.90 million reported during the same time last year. It was also a blessing to SJM stock by coming in above analysts’ revenue estimate of $1.99 billion for the quarter.
J M Smucker is still expecting earnings per share between $8.00 and $8.20 on revenue of $7.90 billion for fiscal 2019. Wall Street is looking for earnings per share and revenue of $8.01 and $7.84 billion for the fiscal year.
SJM stock was up 4% as of noon Tuesday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.