ORRVILLE, Ohio (AP) — ORRVILLE, Ohio (AP) — J.M. Smucker Co. (SJM) on Tuesday reported a loss of $24.5 million in its fiscal second quarter.
The Orrville, Ohio-based company said it had a loss of 23 cents per share. Earnings, adjusted for one-time gains and costs, were $2.76 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.51 per share.
The food maker posted revenue of $2.27 billion in the period, which matched Street forecasts.
Smucker expects full-year earnings in the range of $9.70 to $10.10 per share.
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