{"id":32652,"date":"2012-08-18T01:15:00","date_gmt":"2012-08-18T01:15:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/j-m-smucker-reports-strong-q1-results-sjm\/32652\/"},"modified":"2012-08-18T01:15:00","modified_gmt":"2012-08-18T01:15:00","slug":"j-m-smucker-reports-strong-q1-results-sjm","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/j-m-smucker-reports-strong-q1-results-sjm\/32652\/","title":{"rendered":"J.M. Smucker Reports Strong Q1 Results (SJM)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>Food Maker J.M. Smucker Co. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SJM\" target=\"_blank\" rel=\"noopener\">NYSE: SJM<\/a>) posted better-than-expected sales for the fiscal first quarter even as earnings contracted a tad due to costs incurred at restructuring process and higher food prices.<\/p>\n<p><span id=\"more-32652\"><\/span><\/p>\n<p>However, the company does not foresee prices\u2019 rising in this fiscal year as food inflation (peanuts, green coffee) is likely to remain under control, according to JSM. The company is also confident of achieving higher volume growth in the fiscal year.<\/p>\n<p>For the quarter, Smucker\u2019s profit stood at $110.9 million, down from $111.5 million in the year earlier quarter.<\/p>\n<p>Earnings came at $1 a share up from 98 cents in the year earlier quarter since there were fewer shares outstanding in this quarter.\u00a0 After excluding restructuring \/ special project costs, earnings climbed to $1.17 from $1.12.<\/p>\n<p>Sales for the quarter rose 15% to $1.37 billion, while volume increased 2%.<\/p>\n<p>Analysts polled by Thomson Reuters had forecasted earnings of $1 a share on revenue of $1.3 billion.<\/p>\n<p>Gross margin contracted to 34.3% from 36.3%.<\/p>\n<p>Company\u2019s international food-service and natural-foods segment witnessed a 40% sales increase, while income increased 5.7%.<\/p>\n<p>SJM\u2019s retail coffee sales in the U.S.&#8211;which include brands such as Folgers, Dunkin&#8217; Donuts and Millstone\u2014rose 4.1%, nonetheless, profit fell 10% due to higher prices of green coffee during the quarter.<\/p>\n<p>Sales of U.S. retail consumer foods segment climbed 15%, and profit skyrocketed 36%.<\/p>\n<p>Looking ahead at the full fiscal year, the company now expects sales to be in line with expectations and earnings to come at the higher end of its forecast of $5 to $5.10 a share.<\/p>\n<p>Commenting over the results, J.M. Smucker\u2019s Chief Executive in a conference call said, \u201cWhile the environment remains challenging, we continue to drive long-term growth through brand-building, product innovation, acquisitions and productivity initiatives while maintaining a healthy balance between volume, market share, and profitability.\u201d<\/p>\n<p>Renowned for its Jif peanut butter, Pillsbury products, jams and jellies, J.M, Smucker generates most its revenue from U.S. retail coffee segment. But lately, earnings have been under pressure due to higher prices of peanuts and green coffee. In order to offset rising costs, the company has implemented series of price hikes \u2013more than any other packaged food players. As a result, volumes have been very inconsistent.<\/p>\n<p>However, the company is now confident of no more further price rise.<\/p>\n<p>Commenting over this issue, company\u2019s President and Chief Operating Officer Vince Byrd during a conference call said, \u201cWe do not foresee the need to adjust pricing in our key categories as we look out through the end of calendar year.\u201d<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120821033748\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fj-m-smucker-reports-strong-q1-results-sjm%2F32652&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-nearly-flat\/32719\">\nStocks End Nearly Flat<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-silver-prices-rally\/32716\">\nGold Prices Settle Higher; Silver Prices Rally<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-in-red-in-late-trading-7\/32715\">\nStocks in Red in Late Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-marginally-lower-in-mid-day-trading-3\/32710\">\nStocks Marginally Lower in Mid-Day Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/vascular-solutions-vasc-acquires-venture-catheter-from-st-jude-medical\/32698\">\nVascular Solutions &#8211; VASC &#8211; Acquires Venture\u00ae Catheter From St. Jude Medical<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/mylan-myl-launches-generic-actoplus-met-tablets-and-generic-actos-tablets\/32696\">\nMylan &#8211; MYL &#8211; Launches Generic Actoplus Met\u00ae Tablets and Generic Actos\u00ae Tablets<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/zaza-energy-corporation-zaza-commences-drilling-in-eaglebine-resource-play\/32697\">\nZaZa Energy Corporation &#8211; ZAZA &#8211; Commences Drilling in Eaglebine Resource Play<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20120821033748im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Food Maker J.M. Smucker Co. (NYSE: SJM) posted better-than-expected sales for the fiscal first quarter even as earnings contracted a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[1771],"class_list":["post-32652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-sjm"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/32652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=32652"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/32652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=32652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=32652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=32652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}