By Denny Jacob
J.M. Smucker posted lower sales and swung to a loss in its latest quarter.
The maker of Folger's coffee, Jif peanut butter and Smucker's jams reported a loss of $729 million, or $6.85 a share, for the fourth quarter ended April 30, compared with net income of $245.1 million, or $2.31 a share, in the prior-year period. Analysts polled by FactSet had expected earnings of $2.22 a share.
Sales declined to $2.14 billion from $2.21 billion. Analysts polled by FactSet had expected $2.18 billion.
By segment, its U.S. retail coffee plus the international and away-from-home businesses saw higher sales. The U.S. retail frozen handheld and spreads, U.S. retail pet foods and sweet baked snacks segments saw lower sales.
The Orrville, Ohio, company's latest results reflect the divestiture of a few brands going back to November 2023, as well as the acquisition of Hostess Brands in 2023.
J.M. forecast sales to increase between 2% and 4%, comparable sales to rise in the range of 3.5% to 5.5%, and adjusted earnings per share to come in between $8.50 and $9.50 in fiscal 2026.
Shares declined 7.3% to $104.60 in premarket trading. The stock is up 1.6% on the year.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
June 10, 2025 07:26 ET (11:26 GMT)
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