J. M. Smucker Guides FY20 Adj. EPS, Sales Growth Above View - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, J. M. Smucker Co. (SJM) initiated adjusted earnings and net sales growth for the full-year 2020.

For fiscal 2020, the company projects adjusted earnings in a range of $8.45 to $8.65 per share on expected net sales growth of 1 to 2 percent.

Net sales outlook incorporates the loss of $105.9 million of sales in the first four months of fiscal 2019 related to the divested U.S. baking business and incremental non-comparable sales for Ainsworth. On a comparable basis, net sales are expected to increase more than 2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.33 per share on a sales drop of 0.3 percent to $7.85 billion for the year 2020. Analysts' estimates typically exclude special items.