J. M. Smucker (SJM) Tops Q2 EPS by 13c, Lowers FY EPS Guidance

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Go back to J. M. Smucker (SJM) Tops Q2 EPS by 13c, Lowers FY EPS Guidance

The J. M. Smucker Company Announces Fiscal 2020 Second Quarter Results

November 22, 2019 7:00 AM EST

ORRVILLE, Ohio, Nov. 22, 2019 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJM) today announced results for the second quarter ended October 31, 2019, of its 2020 fiscal year. Financial results reflect the divestiture of the Company's U.S. baking business on August 31, 2018. All comparisons are to the second quarter of the prior fiscal year, unless otherwise noted.

EXECUTIVE SUMMARY

Net sales decreased $63.7 million, or 3 percent. Net sales excluding the noncomparable divested business and foreign currency exchange decreased 1 percent. Net income per diluted share was $1.85. Adjusted earnings per share... More