J. M. Smucker reported its quarterly earnings that surpassed analysts’ expectations.
The food manufacturing company’s earnings came in at $2.23 per share for the quarter, handily topping analysts’ consensus estimates of $1.88. The EPS was $1.89 in the prior year quarter.
Revenue grew +5.9% from the year-ago quarter to $2.03 billion, also surpassing analysts’ expectations of $1.98 billion.
J. M. Smucker updated its outlook for FY23 to the range $7.85-8.25 EPS, compared to the consensus earnings estimate of $8.91. The company’s revenue guidance is $8.28 billion-$8.36 billion, compared to the consensus estimate of $8.01 billion.