The J. M. Smucker Company Q3 Profit Decreases, but beats estimates

(RTTNews) - The J. M. Smucker Company (SJM) revealed earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $120.4 million, or $1.13 per share. This compares with $208.5 million, or $1.95 per share, in last year's third quarter.

Excluding items, The J. M. Smucker Company reported adjusted earnings of $262.6 million or $2.48 per share for the period.

Analysts on average had expected the company to earn $2.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.5% to $2.23 billion from $2.22 billion last year.

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

-Earnings (Q3): $120.4 Mln. vs. $208.5 Mln. last year. -EPS (Q3): $1.13 vs. $1.95 last year. -Analyst Estimates: $2.27 -Revenue (Q3): $2.23 Bln vs. $2.22 Bln last year.

-Guidance: Full year EPS guidance: $9.45 - $9.65