The J. M. Smucker Company (SJM - Free Report) , the leading manufacturer of consumer food and beverage products, and pet food and pet snacks in North America, came out with fourth-quarter fiscal 2018 results. The company posted adjusted earnings per share of $1.93 that increased 7% year over year but missed the Zacks Consensus Estimate of $2.18.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2019 has witnessed a downtrend in the last seven days. However, if we look at J. M. Smucker’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the earnings estimates by an average of 5.1%.
Revenues: Net sales of $1,781.3 million remained almost flat with the year-ago quarter’s figure but came below the Zacks Consensus Estimate of $1,807 million.
Outlook: Management issued guidance for fiscal 2019. Net sales are now projected to be $8.3 billion. Further, adjusted earnings per share are envisioned in the band of $8.40-$8.65 for the fiscal year.
Zacks Rank: Currently, J. M. Smucker carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on J. M. Smucker’s earnings report later!
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