J. M. Smucker (SJM) Reports In-Line Q3 EPS, Trims Top End of Outlook

J. M. Smucker (NYSE: SJM) reported Q3 EPS of $2.00, in-line with the analyst estimate of $2.00. Revenue for the quarter came in at $1.88 billion versus the consensus estimate of $1.92 billion.

GUIDANCE:

J. M. Smucker sees FY2017 EPS of $7.60-$7.70, versus $7.60 - $7.75 prior and $7.70 consensus.

"Accelerating the realization of synergies and a concentrated effort to reduce costs across the Company support our ability to deliver bottom-line growth, despite the top-line softness in our business and across the industry," said Mark Smucker, Chief Executive Officer. "We are also aggressively pursuing a variety of growth opportunities. During the quarter, we launched our Nature's Recipe® premium pet food brand into grocery and mass merchandise outlets. In addition, we announced plans to build a new manufacturing facility to support growth for our Smucker's® Uncrustables® frozen sandwiches. Behind these and other initiatives, we remain confident in achieving our long-term growth objectives and continuously enhancing shareholder value."

For earnings history and earnings-related data on J. M. Smucker (SJM) click here.

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