JM Smucker (SJM) shares were up on Thursday following an earnings beat during its most recent quarter.
JM Smucker reported earnings per share of $1.32 for its first quarter in fiscal 2016. This is down slightly from the $1.34 EPS that it reported during the same time last year. However, it did beat analysts’ estimates, which were EPS of $1.23.
JM Smucker reported revenue of $1.95 billion for its fiscal first quarter in 2016. This is up from the $1.30 billion in revenue that it reported during the same time last year. It also beat the $1.90-billion estimate that Wall Street was expecting from the company.
JM Smucker confirmed that it still expects to see earnings per share range between $5.65 to $5.80 for fiscal 2016. It’s expecting its net sales for the year to be at $8 billion and to have a free cash flow of $900 million. It also plans to have $200 million in capital expenditures.
SJM shares were up 6% as of Thursday afternoon.
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