Join        Login             Stock Quote

J.M. Smucker (SJM) 4Q Earnings Top Estimates, Guides Below Consensus

 June 07, 2012 07:22 AM

(By Balachander) J.M. Smucker Co. (NYSE:SJM) reported better-than-expected quarterly earnings, yet the maker of branded food products issued full-year forecast that trailed Wall Street projections.

On a non-GAAP basis, earnings per share increased 10 percent to $1.10 from $1.00, topping market expectations of $0.99 for the fourth quarter. GAAP EPS rose 13 percent to 93 cents.

Sales jumped 14 percent to $1.35 billion, coming in line with consensus estimates, boosted by acquisitions of Sara Lee foodservice business and Rowland Coffee and rise in realized prices. Overall volume, excluding acquisitions, fell 7 percent.

[Related -8 Dividend Stocks Raising Their Yield On Cost]

Gross margin, excluding special project costs, shrank to 33.7 percent from 36.8 percent amid higher commodity costs, most significantly for green coffee and peanuts.

Segment wise, net sales of U.S. Retail Coffee rose 7 percent, U.S. Retail Consumer Foods went up 5 percent, and International, Foodservice, and Natural Foods jumped 47 percent.

Looking ahead for the full year 2013, the Orrville, Ohio-based company expects non-GAAP EPS in the range of $5.00 to $5.10 on sales growth of 7 percent, while analysts expect EPS of $5.23 on sales gain of 5.5 percent.

The stock, which has been trading between $66.43 and $81.97 over the past year, ended Wednesday's regular trading at $76.05.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageSavings Glut and Financial Imbalances

Martin Wolf in today's Financial Times discusses the reasons for low interest rates and suggests some read on...

article imageA Dividend Aristocrat Is Now On Sale

The bear market investors have been dreading is already here for many individual stocks. While the S&P 500 read on...

article imageTwo Picks to Play Defense in a Slowing Economy

Is the economy slowing? Last Thursday the Institute for Supply Management (ISM) reported that its read on...

article imageUS Jobless Claims Fall, Moving Closer To Multi-Decade Low… Again

US jobless claims continue to cast a positive glow on the outlook for the labor market. Today’s weekly read on...

Popular Articles

Daily Sector Scan
Partner Center

Related Articles:

3 Styles Of Successful Dividend Investing
More Articles on: Consumer Staples

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.