Connect with us

Hi, what are you looking for?


Smuckers hits a five-year high following its second-quarter earnings

J.M. Smucker Co. (NYSE: SJM) is trading near a six-year high on Monday after the food and beverage company reported market-beating results for its second financial quarter.

Highlights from CEO’s interview with CNBC

Investors are also responding positively to the raised guidance. Smuckers is now calling for a 6.5% annualised increase in sales this year on $8.35 to $8.75 of adjusted per-share earnings. On CNBC’s “Squawk Box”, CEO Mark Smucker said:

We continue to be laser focused on our strategy. We’ve been very thoughtful about reshaping our portfolio. We’ve made a few divestitures and ensuring that the resources we have in dollars and people, we’re putting against our biggest bets.

Versus its June low, Smuckers stock is now up more than 20%. According to the Chief Executive, much of the second-quarter strength was related to strong demand and prices increases that helped offset the higher input costs.

We’ve been taking a very prudent approach to how we pass along pricing. We offer products and brands across the entire value spectrum, and so consumers can find something that fits their budget and their needs across our entire portfolio.

Smuckers’ second-quarter financial highlights

Net income printed at $191.1 million versus the year-ago $206 millionPer-share earnings also slipped a little bit from $1.90 to $1.79Adjusted for one-time items, EPS was $2.40 as per the press releaseSales went up 7.6% on a year-over-year basis to $2.21 billionFactSet consensus was $2.18 of adjusted EPS on $2.17 billion in sales

Cost of sales was 12.4% higher than the same quarter last year, resulting in a 290 basis points hit to gross margin.

Despite strong year-to-date performance amidst a challenging macro environment, Wall Street still rates Smuckers at “underweight” – something to consider if you want to invest in this stock.

The post Smuckers hits a five-year high following its second-quarter earnings appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Reprinted from the Future of Freedom Foundation President Biden’s campaign to banish (or maybe outlaw) political paranoia took a wallop last spring. In April,...


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...

    Editor's Pick

    It’s already a cliché, but technology is rapidly improving. And for many businesses, it’s hard to catch up. However, it’s not just the average...

    Editor's Pick

    At Broadband World Forum 2022, Fibocom launched 5G module FG370 based on MediaTek T830 platform, aiming to empower the deployment of 5G FWA for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.