WASHINGTON (dpa-AFX) - While reporting financial results for the third quarter on Thursday, consumer goods company J. M. Smucker Co. (SJM) maintained its adjusted earnings guidance for the full-year 2026, while trimming annual net sales growth outlook.
For fiscal 2026, the company still projects adjusted earnings in the range of $8.75 to $9.25 per share.
Net sales growth is now expected at 3.5 to 4.0 percent, with comparable net sales growth of approximately 5.0 to 5.5 percent, down from the prior guidance for net sales growth of 3.5 to 4.5 percent.
The company said the change in the midpoint of the net sales guidance range reflects the estimated impact of a recent fire at the Company's Emporia, Kansas manufacturing facility in February.
For the third quarter, the company reported a net loss of $724.2 million or $6.79 per share, wider than $662.3 million or $6.22 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $2.38 per share, compared to $2.61 per share in the year-ago quarter.
Net sales for the quarter grew 7 percent to $2.34 billion from $2.19 billion in the same quarter last year. Net sales, excluding divestitures and foreign currency exchange, increased 8 percent.
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.
In Thursday's pre-market trading, SJM is trading on the NYSE at $114.96, up $8.40 or 7.88 percent.
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