ORRVILLE, Ohio — J.M. Smucker Co. (SJM) on Thursday reported fiscal second-quarter profit of $176 million.
The Orrville, Ohio-based company said it had net income of $1.47 per share. Earnings, adjusted for non-recurring costs, came to $1.62 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The food maker posted revenue of $2.08 billion in the period, which matched Street forecasts.
Smucker expects full-year earnings in the range of $5.70 to $5.80 per share, with revenue expected to be $7.9 billion.
Smucker shares have risen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent. The stock has risen 11 percent in the last 12 months.
Keywords: Smucker, Earnings Report