ORRVILLE, Ohio (AP) — ORRVILLE, Ohio (AP) — J.M. Smucker Co. (SJM) on Tuesday reported fiscal fourth-quarter net income of $388.1 million.
The Orrville, Ohio-based company said it had net income of $3.64 per share. Earnings, adjusted for non-recurring gains, came to $2.77 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.
The food maker posted revenue of $2.27 billion in the period, meeting Street forecasts.
For the year, the company reported a loss of $138.7 million, or $1.30 per share. Revenue was reported as $9.05 billion.
Smucker expects full-year earnings in the range of $9.75 to $10.25 per share.
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