- J.M. Smucker (NYSE:SJM) points to volume/mix in the U.S. retail coffee segment and lower net price realization in the the U.S. retail pet foods segment as two drags on revenue in FQ3.
- A reduction in commodity prices worked in Smucker's favor during the quarter.
- The profit margin in the U.S. retail coffee segment fell 180 bps Y/Y to 32.0%. The profit margin in the U.S. retail consumer foods segment was up 540 bps to 23.1% (ex-divestiture impact).
- 2017 guidance from the company includes an expectation for comparable sales to fall 3% vs. -1% to 0% prior view and EPS of $7.60 to $7.70 vs. $7.60 to $7.75 prior.
- SJM -2.79% premarket to $134.00.