The J. M. Smucker Company Q1 Profit Increases, beats estimates

(RTTNews) - The J. M. Smucker Company (SJM) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $183.6 million, or $1.79 per share. This compares with $109.8 million, or $1.03 per share, in last year's first quarter.

Excluding items, The J. M. Smucker Company reported adjusted earnings of $227.0 million or $2.21 per share for the period.

Analysts on average had expected the company to earn $2.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.2% to $1.81 billion from $1.87 billion last year.

The J. M. Smucker Company earnings at a glance (GAAP) :

-Earnings (Q1): $183.6 Mln. vs. $109.8 Mln. last year. -EPS (Q1): $1.79 vs. $1.03 last year. -Analyst Estimate: $2.04 -Revenue (Q1): $1.81 Bln vs. $1.87 Bln last year.

-Guidance: Full year EPS guidance: $9.45 - $9.85