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The J.M. Smucker (SJM) to Report Q1 Earnings: What's in Store?
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The J. M. Smucker Company (SJM - Free Report) will likely register a year-over-year top line decline when it reports first-quarter fiscal 2024 earnings on Aug 29. The Zacks Consensus Estimate for revenues is pegged at $1.8 billion, suggesting a drop of 1.7% from the prior-year quarter’s reported figure.
The company’s bottom line is likely to grow year over year in the fiscal first quarter. The Zacks Consensus Estimate for the bottom line has remained unchanged in the past 30 days at $2.08 per share. The projection indicates growth of 24.6% from the figure reported in the year-ago period quarter. The J. M. Smucker has a trailing four-quarter earnings surprise of 14%, on average.
The J. M. Smucker has been grappling with rising costs, including commodity and ingredient, manufacturing and packaging expenses. In its last earnings release, management highlighted that the ongoing cost inflation, supply-chain bottlenecks and the broader macroeconomic landscape continue to affect the company’s results and cause risks for fiscal 2024. The persistent rise in such costs poses a threat to its first-quarter fiscal 2024 results.
That being said, The J. M. Smucker is benefiting from its focus on core priorities, which include driving commercial excellence, reshaping the portfolio, streamlining the cost structure and unleashing its organization to win. Management has been implementing inflation-justified pricing actions across all businesses. These upsides bode well for the to-be-reported quarter.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Smucker this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Smucker carries a Zacks Rank #2 and has an Earnings ESP of -3.75%.
Some Stocks With Favorable Combination
Here are three companies worth considering, as our model shows that these have the correct elements to beat on earnings this time around.
Costco (COST - Free Report) currently has an Earnings ESP of +1.08% and a Zacks Rank of 3. COST is likely to witness a bottom-line growth from the year-ago fiscal quarter’s reported figure when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly earnings is pegged at $4.72 per share in the past 30 days, suggesting a 12.4% rise from the year-ago fiscal quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
Costco’s top line is expected to rise from the prior-year fiscal quarter’s reported number. The consensus estimate for quarterly revenues is pegged at $78.9 billion, suggesting a 9.4% rise from the figure reported in the prior-year fiscal quarter. COST delivered an earnings beat of 1.8%, on average, in the trailing four quarters.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +1.03% and carries a Zacks Rank #3. The company is likely to register a bottom-line decline when it reports first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $3.39 suggests a decline of 17.1% from the year-ago quarter’s levels.
Casey's General Stores’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.85 billion, indicating a fall of 13.5% from the figure reported in the prior-year quarter. CASY has a trailing four-quarter earnings surprise of 7.5%, on average.
American Eagle Outfitters (AEO - Free Report) currently has an Earnings ESP of +8.52% and a Zacks Rank #2. The company is likely to register a bottom-line increase when it reports second-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of 15 cents suggests a sharp increase from 4 cents reported in the year-ago quarter.
American Eagle Outfitters’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.19 billion, suggesting a marginal decline of 0.9% from the figure reported in the prior-year quarter. American Eagle Outfitters has a trailing four-quarter earnings surprise of 9.2%, on average.
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The J.M. Smucker (SJM) to Report Q1 Earnings: What's in Store?
The J. M. Smucker Company (SJM - Free Report) will likely register a year-over-year top line decline when it reports first-quarter fiscal 2024 earnings on Aug 29. The Zacks Consensus Estimate for revenues is pegged at $1.8 billion, suggesting a drop of 1.7% from the prior-year quarter’s reported figure.
The company’s bottom line is likely to grow year over year in the fiscal first quarter. The Zacks Consensus Estimate for the bottom line has remained unchanged in the past 30 days at $2.08 per share. The projection indicates growth of 24.6% from the figure reported in the year-ago period quarter. The J. M. Smucker has a trailing four-quarter earnings surprise of 14%, on average.
The J. M. Smucker Company Price and EPS Surprise
The J. M. Smucker Company price-eps-surprise | The J. M. Smucker Company Quote
Things To Note
The J. M. Smucker has been grappling with rising costs, including commodity and ingredient, manufacturing and packaging expenses. In its last earnings release, management highlighted that the ongoing cost inflation, supply-chain bottlenecks and the broader macroeconomic landscape continue to affect the company’s results and cause risks for fiscal 2024. The persistent rise in such costs poses a threat to its first-quarter fiscal 2024 results.
That being said, The J. M. Smucker is benefiting from its focus on core priorities, which include driving commercial excellence, reshaping the portfolio, streamlining the cost structure and unleashing its organization to win. Management has been implementing inflation-justified pricing actions across all businesses. These upsides bode well for the to-be-reported quarter.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Smucker this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Smucker carries a Zacks Rank #2 and has an Earnings ESP of -3.75%.
Some Stocks With Favorable Combination
Here are three companies worth considering, as our model shows that these have the correct elements to beat on earnings this time around.
Costco (COST - Free Report) currently has an Earnings ESP of +1.08% and a Zacks Rank of 3. COST is likely to witness a bottom-line growth from the year-ago fiscal quarter’s reported figure when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly earnings is pegged at $4.72 per share in the past 30 days, suggesting a 12.4% rise from the year-ago fiscal quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
Costco’s top line is expected to rise from the prior-year fiscal quarter’s reported number. The consensus estimate for quarterly revenues is pegged at $78.9 billion, suggesting a 9.4% rise from the figure reported in the prior-year fiscal quarter. COST delivered an earnings beat of 1.8%, on average, in the trailing four quarters.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +1.03% and carries a Zacks Rank #3. The company is likely to register a bottom-line decline when it reports first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $3.39 suggests a decline of 17.1% from the year-ago quarter’s levels.
Casey's General Stores’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.85 billion, indicating a fall of 13.5% from the figure reported in the prior-year quarter. CASY has a trailing four-quarter earnings surprise of 7.5%, on average.
American Eagle Outfitters (AEO - Free Report) currently has an Earnings ESP of +8.52% and a Zacks Rank #2. The company is likely to register a bottom-line increase when it reports second-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of 15 cents suggests a sharp increase from 4 cents reported in the year-ago quarter.
American Eagle Outfitters’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.19 billion, suggesting a marginal decline of 0.9% from the figure reported in the prior-year quarter. American Eagle Outfitters has a trailing four-quarter earnings surprise of 9.2%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.