The J.M. Smucker Up on Q4 Earnings Beat, Higher Volumes
The J. M. Smucker Company (NYSE: SJM) posted fourth-quarter fiscal 2024 results, wherein the bottom line increased year over year and beat the Zacks Consensus Estimate. While the top line declined, the company witnessed an increase in comparable net sales due to the higher volume/mix and net price realization. Shares of the company rose 4.6% on Jun 6.
SJM’s performance in the fourth quarter and the full year reflects the strength of its business and solid demand for its leading brands. Management attributed the company’s success to superior execution and disciplined cost management, which were vital in a dynamic operating landscape. SJM’s transformed portfolio, bolstered by the recent buyout of Hostess Brands, has set the stage for long-term growth across key platforms such as coffee, uncrustables frozen sandwiches, dog snacks, cat food and sweet baked snacks.
The J. M. Smucker intends to remain committed to investing in brands, capabilities and talented employees in fiscal 2025, staying confident about achieving long-term growth and boosting shareholder value.
Quarter in Detail
Adjusted earnings of $2.66 per share rose 1% year over year and surpassed the Zacks Consensus Estimate of $2.32.
The J. M. Smucker Company Price, Consensus and EPS Surprise
The J. M. Smucker Company price-consensus-eps-surprise-chart | The J. M. Smucker Company Quote
Net sales amounted to $2,205.7 million, which fell 1% year over year, missing the Zacks Consensus Estimate of $2,247 million. Excluding noncomparable sales related to acquisitions and divestitures, as well as currency movements, net sales grew 3%. The uptick in comparable net sales can be attributed to the higher volume/mix …
Full story available on Benzinga.com