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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Smucker Earnings Fall But Meet Expectations 0 comments
    Jun 6, 2014 10:19 AM | about stocks: SJM

    Originally published at www.seclive.com

    The J.M. Smucker Company (NYSE:SJM) announced its financial results for the fourth quarter of fiscal year 2014, posting a decline in earnings that still met expectations. The food-products maker sustained a 12% decline in U.S. coffee sales, with a 1% increase in volume in its Folgers and Dunkin Donuts. Overall net sales fell short of the analyst predicted $1.24B with an 8% decline to $1.23B from $1.34B last year. Smucker announced earlier this week an average 9% price increase of its coffee products to offset increased costs. The U.S. consumer-foods segment saw a 4% decline in sales with a 3% rise in volume, which includes its namesake fruit spreads and Jif peanut butter. Earnings fell from $130.3M and $1.22 per share in the year-ago quarter to $118.5M and $1.16 per share this quarter, meeting analyst expectations. Smucker is forecasting annual earnings for the new fiscal year between $5.95 and $6.05 per share with 5% revenue growth.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: SJM
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