Why J.M. Smucker Company Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
J.M. Smucker Company (NYSE:SJM) shares fell after reporting Q3 earnings. Despite beating EPS and revenue estimates, the company saw a decline in U.S. Retail Coffee and Pet Foods sales. Gross profit increased due to the Hostess Brands acquisition, but operating income dropped due to integration costs. The FY24 EPS outlook was adjusted to $9.45 - $9.65, with expected net sales decrease of 3.6%.
February 27, 2024 | 5:28 pm
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J.M. Smucker's shares fell after a mixed Q3 report, with earnings beat but concerns over segment sales and increased operating costs due to Hostess Brands acquisition.
Despite beating earnings and revenue estimates, SJM's stock price fell due to concerns over declining sales in key segments and increased operating costs from the Hostess Brands acquisition. The mixed financial performance and cautious sales outlook likely contributed to negative investor sentiment.
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