JM Smucker has reaffirmed its full-year guidance despite booking a decline in first-quarter profits.
The US food group today (17 August) recorded earnings of US$110.9m, a 1% decline on the prior year period, as commodity cost increases and restructuring costs hit profits.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Operating profits, however, climbed by 5% to $190.5m, while net sales grew by 15% to $1.37bn.
The company backed its full-year sales guidance and said it now expects earnings to be at the high end of its $5 to $5.10 per share forecast.
“While 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,” said CEO Richard Smucker.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
