J.M. Smucker Co (NYSE:SJM) shares are trading lower. The company reported better-than-expected financial results and raised its full-year outlook on Monday.
What Happened: J.M. Smucker said fiscal second-quarter revenue increased 8% year-over-year to $2.21 billion, which beat average analyst estimates of $2.17 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.40 per share, which beat average estimates of $2.19 per share.
J.M. Smucker reported free cash flow of $102.9 million in the second quarter.
“Our second quarter results reflect the ongoing strength of our business, continued demand for our leading brands, and the ability of our team to execute with excellence. We delivered organic top-line growth across all of our businesses, driven by the strength of our portfolio, and our ability to recover cost inflation and manage our supply chain environment,” said Mark Smucker, chair of the board, president and CEO of J.M. Smucker.
J.M. Smucker raised its full-year earnings guidance from a range of $8.20 to $8.60 per share to a range of $8.35 to $8.75 per share versus average estimates of $8.49 per share. The company raised its full-year revenue growth guidance from a range of 4% to 5% to a range of 5.5% to 6.5%.
See Also: JM Smucker Raises Annual Guidance On Solid Q2 Earnings Beat
SJM Price Action: J.M. Smucker has a 52-week high of $152.16 and a 52-week low of $119.82.
The stock was down 0.10% at $146.00 at time of publication.
Photo: courtesy of J.M. Smucker.
