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Actionable news in SJM: THE J.M. SMUCKER COMPANY,

Investors Cheer J M Smucker Q1 Earnings, Outlook

J M Smucker Co (NYSE: SJM) released its first quarter financial results. Revenue fell short of estimates modestly. The company maintained its adjusted EPS forecast for the full year.

The company earned $170.0 million, or $1.46 a share, for the first quarter, up from $136.4 million, or $1.14 a share, in the year-ago period. On an adjusted basis, its EPS would have been $1.86 representing a growth of 16 percent on a year-over-year basis. Street analysts expected the company to report EPS of $1.74.

J M Smucker's net sales dipped 7 percent from $1.95 billion to $1.82 billion and came in below the analysts' predictions of $1.89 billion.

CEO Mar Smucker said, "Despite the impact of deflation on the top line, we remain on track to achieve our original expectations for full-year earnings per share. We are strengthening a great portfolio of brands by investing in new capabilities and on-trend platforms that are essential to long-term sales growth."

Moving ahead, the company maintained its fiscal year 2017 adjusted EPS forecast of $7.60-$7.75. Analysts are looking for an EPS of $7.70. However, the company slashed its comparable net sales from one percent growth to 0 – one percent drop for the same period.

In the pre-market trading, the stock advanced $0.77, or 0.49 percent, to $157.00.

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.