J. M. Smucker (SJM) Tops Q1 EPS by 12c; Maintains Outlook
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J. M. Smucker (NYSE: SJM) reported Q1 EPS of $1.86, $0.12 better than the analyst estimate of $1.74. Revenue for the quarter came in at $1.82 billion versus the consensus estimate of $1.89 billion.
J. M. Smucker maintains FY2017 EPS of $7.60-$7.75, versus the consensus of $7.70.
"We are pleased with the start to our fiscal year as we delivered record first quarter earnings per share, which exceeded our expectations," said Mark Smucker, Chief Executive Officer. "Despite the impact of deflation on the top line, we remain on track to achieve our original expectations for full-year earnings per share. We are strengthening a great portfolio of brands by investing in new capabilities and on-trend platforms that are essential to long-term sales growth. At the same time, we are focused on sustainable cost reductions that are delivering significant bottom-line benefits. For these reasons, we remain confident in achieving our long-term objectives and delivering continued shareholder value."
For earnings history and earnings-related data on J. M. Smucker (SJM) click here.
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