J. M. Smucker Boosts FY24 Adj. EPS Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Tuesday, consumer goods company J. M. Smucker Co. (SJM) raised its adjusted earnings guidance for the full-year 2024, while maintaining annual net sales growth outlook.

For fiscal 2024, the company now projects adjusted earnings in a range of $9.45 to $9.85 per share on a net sales decline of 10.0 to 11.0 percent. On a comparable basis, net sales are expected to increase 8.5 to 9.5 percent, excluding net sales in the prior year related to the divestiture of certain pet food brands.

Previously, the company expected adjusted earnings in a range of $9.20 to $9.60 per share.

On average, 14 analysts polled by Thomson Reuters expect the company to report earnings of $9.39 per share on a sales decline of 10.10 percent to $7.67 billion for the year. Analysts' estimates typically exclude special items.

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