J M Smucker Co (NYSE:SJM) stock was flying high today following an earnings beat for its fiscal second quarter of 2018.
J M Smucker Co reported earnings per share of $2.02 for its fiscal second quarter of 2018. This is down from its earnings per share of $2.05 from the same time last year. However, it was still good news for SJM stock by coming in above Wall Street’s earnings per share estimate of $1.90 for the quarter.
Revenue reported by J M Smucker Co in its fiscal third quarter of the year was $1.92 billion. This is an increase over its revenue of $1.91 billion that was reported in the same period of the year prior. It also beat out analysts’ revenue estimate of $1.89 billion for the fiscal second quarter of 2018 and helped boost JSM stock today.
Mark Smucker, the CEO of J M Smucker Co, says there were a few segments that performed incredibly well during its fiscal second quarter of 2018. He notes that the company’s Nature’s Recipe dog food, Dunkin Brands Group Inc (NASDAQ:DNKN) coffee and and Jif peanut butter all reported strong results in its fiscal second quarter of 2018.
J M Smucker Co also updated its outlook for the fiscal full year of 2018 in its most recent earnings report. It says that it now expects earnings per share for the period to range from $7.75 to$7.90. It was previously expecting earnings per share between $7.75 and $7.95 for fiscal 2018. Wall Street is looking for earnings per share of $7.72 for the year.
SJM stock was up 9% as of Thursday morning, but is down 9% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.