Food producer beats expectations with increased profit
- J.M. Smucker stock rises after higher-than-expected profit in recent quarter
- Adjusted earnings of $2.59 per share, up 8% from last year
- Sales dipped by 12% but grew by 7% excluding divested pet food brands and currency fluctuations
- Acquisition of Hostess impacts adjusted profit per share for fiscal year
Shares of J.M. Smucker are down 27% this year. However, the company’s stock saw a significant increase after reporting higher-than-expected profit in its recent quarter. J.M. Smucker’s adjusted earnings reached $2.59 per share, marking an 8% increase from the previous year and surpassing Wall Street’s expectations. The rise in profit can be attributed to rising prices and consumer preference for higher-priced items, as well as reduced costs of green coffee. Although sales dipped by 12%, excluding divested pet food brands and currency fluctuations, sales actually grew by 7%. J.M. Smucker recently completed the acquisition of Hostess, which impacted its adjusted profit per share for the fiscal year. The company now expects adjusted profit per share of $9.25 to $9.65, lower than its previous estimate of $9.45 to $9.85 per share.
Public Companies: J.M. Smucker (N/A)
Private Companies:
Key People:
Factuality Level: 7
Justification: The article provides specific information about J.M. Smucker’s financial performance, including its adjusted earnings, stock price, and sales figures. It also mentions the reasons for the increase in profit and the impact of the acquisition of Hostess. However, the article lacks additional context or analysis, and it does not provide any opposing viewpoints or potential risks to the company’s performance. Overall, the article seems to present factual information, but it could benefit from more comprehensive reporting.
Noise Level: 3
Justification: The article provides relevant information about J.M. Smucker’s stock performance and earnings. It includes details about the company’s adjusted earnings, sales, and the impact of the acquisition of Hostess. However, the article is very short and lacks in-depth analysis or insights. It also does not provide any evidence or data to support its claims. Overall, the article is concise but lacks substance.
Financial Relevance: Yes
Financial Markets Impacted: J.M. Smucker stock
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of J.M. Smucker, a food producer, and its impact on the stock market. There is no mention of any extreme event.
www.marketwatch.com 
