The J. M. Smucker Company Announces Unaudited Consolidated Earnings Results for the Three Months and Six Months Ended October 31, 2018; Provides Earnings Guidance for the Full Year Fiscal 2019
November 28, 2018 at 07:00 am EST
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The J. M. Smucker Company announced unaudited consolidated earnings results for the three months and six months ended October 31, 2018. For the three months, the company reported net sales of $2,021.5 million against $1,923.6 million a year ago, led by the addition of Ainsworth and the Company's growth brands. Operating income was $330.5 million against $332.1 million a year ago. Net income was $188.5 million against $194.6 million a year ago. Net income per common share was $1.66 against $1.71 a year ago.
For the six months, the company reported net sales of $3,924.0 million against $3,672.5 million a year ago. Operating income was $557.4 million against $567.3 million a year ago. Net income was $321.4 million against $321.4 million a year ago. Net income per common share was $2.83 against $2.83 a year ago.
For the full-year fiscal 2019, the company expects net sales to be $7.9 billion against previous guidance of $8 billion. The company expects adjusted earnings per share to be in the range of $8 to $8.20 against previous guidance range of $8.40 to $8.65.
The JM Smucker Company specializes in producing and selling food and animal nutrition products. Net sales break down by activity as follows:
- sale of coffee and food products (52.7%): coffee (Folgers® brands, Dunkin' Donuts® and Café Bustelo® brands) peanut butter, jams and jellies, oils, condensed milk, ready-to-use frostings and glazes, flour and baking ingredients, cookies, frozen potatoes, juices and beverages, dessert toppings, syrups, pickles, condiments, etc. (Smucker's®, Jif®, and Uncrustables® brands, etc.);
- sale of animal food products (35.5%): Rachael Ray Nutrish, Meow Mix ®, Milk-Bone®, Kibbles'n Bits®, 9Lives®, Nature's Recipe® and Pup-Peroni® brands;
- other (11.8%).
93.1% of net sales are from the United States.
The J. M. Smucker Company Announces Unaudited Consolidated Earnings Results for the Three Months and Six Months Ended October 31, 2018; Provides Earnings Guidance for the Full Year Fiscal 2019