J. M. Smucker (SJM) Tops Q2 EPS by 12c; Maintains Outlook

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

November 17, 2016 7:00 AM EST

ORRVILLE, Ohio, Nov. 17, 2016 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJM) today announced results for the second quarter ended October 31, 2016, of its 2017 fiscal year.  All comparisons are to the second quarter of the prior fiscal year, unless otherwise noted.

EXECUTIVE SUMMARY

Net sales decreased 8 percent.  Excluding the noncomparable divested U.S. canned milk business, net sales decreased 5 percent.    Net income per diluted share increased 3 percent to $1.52.  Adjusted earnings per share was $2.05, an increase of 7 percent, reflecting incremental synergy realization, a lower tax rate, and fewer... More