BUZZ-J.M. Smucker drops after downbeat annual earnings forecast

Reuters
10 Jun
BUZZ-J.M. Smucker drops after downbeat annual earnings forecast

** Shares of Uncrustables maker J.M. Smucker SJM.N down 8.5% at $102.39 premarket

** Co forecasts annual adjusted EPS between $8.50 and $9.50, below analysts' estimates of $10.26 - data compiled by LSEG

** However, co forecasts annual net sales growth between 2% and 4%, above the expected 1.84% growth

** Says outlook impacted by a dynamic and evolving external environment, including tariffs and related trade impacts, regulatory and policy changes, ongoing input inflation, and changes in consumer behaviors

** Q4 net sales fell 3% to $2.14 billion, narrowly missing estimates of $2.19 billion, while adjusted EPS of $2.31 beat expectations of $2.13

** Up to last close, stock had risen 1.6% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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