Smucker Earnings Top Wall Street Forecasts

The company posted revenue of $1.87 billion in the quarter.

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ORRVILLE, Ohio (AP) — J.M. Smucker Co. on Tuesday reported fiscal first-quarter net income of $109.8 million.

On a per-share basis, the Ohio-based company said it had profit of $1.03. Earnings, adjusted for amortization costs and non-recurring costs, were $1.67 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The food maker posted revenue of $1.87 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.85 billion.

Smucker expects full-year earnings in the range of $8.20 to $8.60 per share.

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