J. M. Smucker (SJM) gives better-than-expected profit guidance

J. M. Smucker (NYSE: SJM) has released its financial results for the first fiscal quarter with the company reporting an EPS of $2.21 on revenue of $1.81 billion.

This is compared to the analyst consensus for earnings of $1.62 per share on revenue of $1.84B. Overall, sales declined 3.6% year-over-year.

In terms of guidance, J. M. Smucker anticipates Q2 2024 EPS to be in the range of $9.45 to $9.85, as compared to the consensus estimate of $9.39. The company sees free cash flow at $650 million, while analysts were looking for a figure close to $700M.

"Our first quarter results reflect a positive start to our fiscal year, including volume growth in every business segment," said Mark Smucker, Chair of the Board, President and Chief Executive Officer.

"Our ability to continue delivering results in a dynamic environment is due to our talented employees, focused strategy and execution, cost and productivity savings, partnership with our customers, and consumer demand for our leading brands."

SJM stock was up modestly early Tuesday trade.

By Senad Karaahmetovic

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