J. M. Smucker's Q4 earnings surpassed expectations due to cost-cutting, higher prices, and Hostess Brands acquisition, despite a 1.3% revenue decline.
Shares of J. M. Smucker (SJM) rose after the food company reported better-than-expected Q4 earnings, citing cost-cutting, higher prices, and the addition of Hostess Brands to its portfolio. The company's Q4 adjusted EPS was $2.66, beating the $2.32 consensus of analysts. Revenue fell 1.3% to $2.21 billion, missing forecasts. Smucker anticipates full-year revenue will jump 9.5% to 10.5% YoY.
June 06, 2024
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