J. M. Smucker (SJM) Tops Q1 EPS by 12c; Maintains Outlook

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The J. M. Smucker Company Announces Fiscal 2017 First Quarter Results

August 23, 2016 7:00 AM EDT

ORRVILLE, Ohio, Aug. 23, 2016 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJM) today announced results for the first quarter ended July 31, 2016, of its 2017 fiscal year.  All comparisons are to the first quarter of the prior fiscal year, unless otherwise noted.

EXECUTIVE SUMMARY

Net sales decreased 7 percent, reflecting the impact of the divested U.S. canned milk business and price declines. Net income per diluted share increased 28 percent to $1.46.  Adjusted earnings per share was $1.86, an increase of 16 percent, reflecting incremental synergy realization, a... More