J. M. Smucker Earns $1.38 Per Share, Beats Estimates (SJM)

J. M. Smucker Company SJM released financial results on Thursday morning that beat Wall Street estimates. J. M. Smucker Company announced that its 2nd quarter net income rose 7% to $149.7 million, or $1.25 per share, up from $140 million, or $1.18 per share, a year earlier. Excluding special items, the company reported earnings of $1.38 per share. The company's revenues were $1.28 billion, the same amount as a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.32 per share, on revenue of $1.32 billion. Executive chairman and co-chief executive officer Richard Smucker said, "Our long-term perspective in managing our business is backed by a strong financial position that provides the ability and flexibility to capitalize on opportunities that support our strategy. As we look ahead, we anticipate that marketplace dynamics, including escalating commodity costs, will continue to present challenges. However, we are confident in the ability of our team to execute our strategy and address these obstacles." J. M. Smucker Company (SJM) finished the previous trading day at $63 per share. The consensus price target of analysts covering the company's stock is $69 per share. Read more from Benzinga's Company news.