J. M. Smucker (SJM) Misses Q1 EPS by 12c; Lowers Midpoint of Outlook
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The J. M. Smucker Company Announces Fiscal 2018 First Quarter Results
August 24, 2017 7:00 AM EDTORRVILLE, Ohio, Aug. 24, 2017 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJM) today announced results for the first quarter ended July 31, 2017, of its 2018 fiscal year. All comparisons are to the first quarter of the prior fiscal year, unless otherwise noted. Â
EXECUTIVE SUMMARY
Net sales decreased 4 percent, reflecting declines within the U.S. Retail Consumer Foods and U.S. Retail Coffee segments. Â Net income per diluted share decreased 23 percent to $1.12. Â This decline was mostly anticipated due to planned increases in marketing expense and commodity costs. Adjusted... More