J. M. Smucker (SJM) Tops Q1 EPS by 9c

J. M. Smucker (NYSE: SJM) reported Q1 EPS of $1.32, $0.09 better than the analyst estimate of $1.23. Revenue for the quarter came in at $1.95 billion versus the consensus estimate of $1.9 billion.

J. M. Smucker maintained its FY2015 non-GAAP EPS of $6.80-$6.95.

"We are off to a solid start this fiscal year, with net sales increasing 47 percent and non-GAAP operating income growth of 37 percent," said Richard Smucker, Chief Executive Officer. "Contributions from the Big Heart acquisition and new products were key drivers of this performance. Notably, our launch of Dunkin' Donuts K-Cup® pods got off to a great start as we shipped over 100 million cups during the first quarter. Overall, we are on track to achieve our full year expectations for net sales and earnings, and are confident about the initiatives we have in place to support future growth."

"Integrating the Pet Food business and beginning to recognize identified synergies continues to be a significant focus area," continued Richard Smucker. "The integration efforts and first quarter results for our Pet Food business further confirms that our entry into the pet food market was timely and strategically positions us for continued growth."

For earnings history and earnings-related data on J. M. Smucker (SJM) click here.

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