WASHINGTON (dpa-AFX) - While reporting financial results for the fourth quarter and fiscal 2021 on Thursday, consumer goods company J. M. Smucker Co. (SJM) initiated its adjusted earnings and net sales growth guidance for the full-year 2022, above analysts estimates.
For fiscal 2022, the company now projects adjusted earnings in a range of $8.70 to $9.10 per share on a net sales decline of 3 to 2 percent. On a comparable basis, net sales are expected to increase approximately 2 percent at the mid-point of the net sales guidance range.
On average, 14 analysts polled by Thomson Reuters expect the company to report earnings of $8.60 per share on a sales decline of 5.5 percent to $7.52 billion for the year. Analysts' estimates typically exclude special items.
While the broader outlook remains uncertain, the company said it continues to focus on managing the elements it can control, including taking the necessary steps to minimize the impact of cost inflation and any business disruption.
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