J.M. Smucker's Bottom-Line Shines In Q4 As Cost Management Pays Off: Details
Portfolio Pulse from Shivani Kumaresan
J.M. Smucker Company (NYSE:SJM) reported its fourth-quarter FY24 earnings, showing a 1.3% decline in sales to $2.21 billion, missing estimates. However, adjusted EPS of $2.66 beat expectations. Gross profit increased by 15%, and the company provided a positive outlook for FY25. SJM shares are up 2.87% in premarket trading.
June 06, 2024 | 12:56 pm
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J.M. Smucker reported a mixed Q4 FY24 with a 1.3% sales decline but a strong adjusted EPS of $2.66, beating estimates. Gross profit increased by 15%, and the company provided a positive outlook for FY25. Shares are up 2.87% in premarket trading.
Despite a slight miss on sales, J.M. Smucker's strong EPS beat and significant gross profit increase indicate effective cost management. The positive outlook for FY25 further boosts investor confidence, leading to a premarket share price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100