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J.M. Smucker Co
SJM reported better-than-expected fourth-quarter results on Thursday.
Smucker reported its quarterly profit at $94.9 million, or $0.82 per share, versus $120.6 million, or $1.01 per share, in the year-ago period. Excluding one-time items, Smucker's earnings came in at $1.00 per share. Its sales surged 11% to $1.19 billion. However, analysts were expecting earnings of $0.99 per share on revenue of $1.17 billion.
Smucker projects FY12 adjusted earnings in the range of $5 to $5.15 per share, versus analysts' estimates of $5.11 per share.
Smucker shares dropped 1.82% to close at $76.39 yesterday.
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from Benzinga's Company news.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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