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Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now
J. M. Smucker Company Earnings Cheat Sheet
Results: Net income for J. M. Smucker Company rose to $148.8 million ($1.36 per share) vs. $127.2 million ($1.12 per share) in the same quarter a year earlier. This marks a rise of 16.9% from the year-earlier quarter.
Revenue: Rose 7.6% to $1.63 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: J. M. Smucker Company reported adjusted net income of $1.45 per share. By that measure, the company fell in line with the mean estimate of $1.45 per share. It beat the average revenue estimate of $1.35 billion.
Quoting Management: “We delivered another strong quarter of solid sales and earnings growth,” commented Richard Smucker, Chief Executive Officer. “Our long-term strategy continues to serve us well in consistently delivering results. Our iconic brands are trusted and have demonstrated their strength and resilience. We have a team of highly talented employees that are fully committed to our culture and to implementing our strategy. All of which point to our Company being well-positioned for continued profitable growth.” “Overall consumer spending appears to be on the upswing which is welcome news for the industry,” added Vince Byrd, President and Chief Operating Officer.
Revenue has increased for four consecutive quarters. Revenue increased 15.2% to $1.37 billion in the first quarter. The figure rose 14.2% in the fourth quarter of the last fiscal year from the year earlier and climbed 11.8% in the third quarter of the last fiscal year from the year-ago quarter.
The company fell in line with estimates last quarter after beating expectations in the previous two quarters. In the first quarter, it topped the mark by 17 cents, and in the fourth quarter of the last fiscal year, it was ahead by 11 cents.
Last quarter’s profit increase comes after net income dropped in the prevoius quarter. In the first quarter, net income declined 0.6% to $110.9 million.
Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the third quarter is $1.39 per share, down from $1.41 ninety days ago. The average estimate for the fiscal year is $5.20 per share, a rise from $5.15 ninety days ago.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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