NEW YORK - J.M. Smucker Co. (NYSE:SJM) reported better-than-expected second quarter results and raised its full-year guidance on Tuesday, sending shares up 4.75% in premarket trading.
The food and beverage company posted adjusted earnings of $2.76 per share for the quarter ended October 31, surpassing analyst estimates of $2.50. Revenue rose 17% YoY to $2.3 billion, also topping expectations of $2.26 billion.
"Our strong second quarter performance demonstrates the strength of our categories and continued execution toward our key growth platforms," said Mark Smucker, Chair of the Board, President and CEO.
Comparable net sales, which exclude impacts from acquisitions and divestitures, increased 2% in the quarter. The company saw strength from its Uncrustables, Meow Mix, Café Bustelo, and Jif brands.
J.M. Smucker raised its full-year fiscal 2025 adjusted earnings guidance to a range of $9.70 to $10.10 per share, up from its previous outlook of $9.60 to $10.00. The new range sits above the current analyst consensus of $9.78.
The company maintained its full-year net sales growth forecast of 8.5% to 9.5%.
J.M. Smucker's quarterly results were boosted by its recent acquisition of Hostess Brands (NASDAQ:TWNK), which contributed $315.5 million in net sales. However, the company also recorded a $260.8 million pre-tax loss related to its planned divestiture of the Voortman business.
Free cash flow improved significantly to $317.2 million in the quarter, compared to $28.2 million a year ago.
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