WASHINGTON (dpa-AFX) - While reporting financial results for the second quarter on Tuesday, consumer goods company J. M. Smucker Co. (SJM) narrowed its adjusted earnings and net sales growth guidance range for the full-year 2026.
For fiscal 2026, the company now projects adjusted earnings in a range of $8.75 to $9.25 per share on net sales growth of 3.5 to 4.5 percent, with comparable net sales growth of approximately 5.0 to 6.0 percent.
Previously, the company expected adjusted earnings in a range of $8.50 to $9.50 per share on net sales growth of 3.5 to 4.5 percent, with comparable net sales growth of approximately 4.5 to 6.5 percent.
On average, 17 analysts polled expect the company to report earnings of $9.11 per share on sales growth of 4.05 percent to $9.08 billion for the year. Analysts' estimates typically exclude special items.
The company said it continues to operate in a dynamic and evolving external environment, including tariffs and related trade impacts, regulatory and policy changes, ongoing input inflation, and changes in consumer behaviors that impact its fiscal year 2026 outlook.
For the second quarter, the company reported net income of $241.3 million or $2.26 per share, compared to a net loss of $24.5 million or $0.23 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $2.10 per share, compared to $2.76 per share in the year-ago quarter.
The Street was looking for earnings of $2.10 per share for the quarter.
Net sales for the quarter grew 3 percent to $2.33 billion from $2.27 billion in the same quarter last year. Net sales, excluding divestitures and foreign currency exchange, increased 5 percent. Analysts expected net sales of $2.32 billion for the quarter.
The company said the financial results reflect the divestiture of certain Sweet Baked Snacks value brands on March 3, 2025, and the divestiture of the Voortman business on December 2, 2024.
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