J.M. Smucker Co.'s Sales Rise 17% With Boost From Hostess Acquisition -- MarketWatch

MarketWatch · 11/26 12:17

J.M. Smucker Co.'s stock (SJM) was up 6.5% in premarket trading on Tuesday after the food giant said its Hostess acquisition helped boost its revenue by 17% during a "strong" second quarter performance of brands such as Uncrustables, Meow Mix, Café Bustelo and Jif. The Orrville, Ohio.-based company said its organic net sales and earnings growth came in above its expectations. J.M. Smucker reported a net loss of $24.5 million, or 23 cents a share in the three months ended Oct. 31. In the year-ago quarter, the company earned $194.9 million, or $1.90 a share. On an adjusted basis, the company earned $2.76 a share, well ahead of the FactSet consensus estimate of $2.51 a share. Revenue rose to $2.27 billion from $1.94 billion, and matched the analyst estimate of $2.27 billion. Looking ahead, Smucker boosted its fiscal 2025 earnings outlook to a range of $9.70 a share to $10.10 a share, from its earlier estimate of $9.60 a share to $10 a share.

-Steve Gelsi

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November 26, 2024 07:17 ET (12:17 GMT)

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