JM Smucker reported quarterly earnings of $1.58 per share, which missed the analyst consensus estimate of $1.74 by 9.2%. This is a 11.24% decrease over earnings of $1.78 per share from the same period last year.
The company reported quarterly sales of $1.779 billion, which missed the analyst consensus estimate of $1.87 billion by 4.87%. This is a 6.52% decrease over sales of $1.903 billion the same period last year.
J. M. Smucker cut fiscal year 2020 EPS guidance from $8.45-$8.65 to $8.35-$8.55 versus the $8.47 estimate.
"Our first quarter performance fell short of our expectations primarily due to the timing of shipments and deflationary pricing in the coffee and peanut butter categories, as well as competitive activity in the premium dog food category," said Mark Smucker, CEO of JM Smucker in a statement.
JM Smucker shares were trading down 5.16% at $107.10 in Tuesday’s pre-market session. The stock has a 52-week high of $128.43 and a 52-week low of $91.32.
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