Smucker Posts Better-than-Expected Earnings

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ORRVILLE, Ohio (AP) — J.M. Smucker Co. on Tuesday reported fiscal fourth-quarter net income of $202.1 million.

The Ohio-based company said it had profit of $1.87 per share. Earnings, adjusted for one-time gains and costs, were $2.23 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.88 per share.

The food maker posted revenue of $2.03 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.98 billion.

For the year, the company reported profit of $631.7 million, or $5.83 per share. Revenue was reported as $8 billion.

Smucker expects full-year earnings in the range of $7.85 to $8.25 per share.

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