J.M. Smucker Cuts FY25 Outlook Following Q1 Earnings: Read Why
Portfolio Pulse from Nabaparna Bhattacharya
J.M. Smucker Company (NYSE:SJM) reported Q1 earnings with adjusted EPS of $2.44, beating estimates, but slightly missed sales expectations. Despite a rise in gross profit, the company lowered its FY25 outlook due to inflationary pressures and demand elasticity concerns, causing shares to drop 4.59%.
August 28, 2024 | 2:03 pm
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J.M. Smucker reported strong Q1 earnings but lowered its FY25 outlook due to inflation and demand elasticity concerns, leading to a 4.59% drop in share price.
The company's strong Q1 earnings were overshadowed by a lowered FY25 outlook, primarily due to inflationary pressures and demand elasticity concerns. This has led to a negative market reaction, with shares dropping 4.59%.
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