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J. M. Smucker fiscal Q3 profit falls YOY

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According to Market Intelligence, December 2022

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J. M. Smucker fiscal Q3 profit falls YOY

J. M. Smucker Co. said its normalized net income for the fiscal third quarter ended Jan. 31 amounted to $1.54 per share, compared with the S&P Capital IQ consensus estimate of $1.51 per share.

In the prior-year period, the per-share result came in at a profit of $1.53.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $155.7 million, a decrease from $159.5 million in the prior-year period.

The normalized profit margin declined to 10.6% from 10.9% in the year-earlier period.

Total revenue fell year over year to $1.44 billion from $1.47 billion, and total operating expenses decreased year over year to $1.17 billion from $1.19 billion.

Reported net income decreased from the prior-year period to $159.9 million, or $1.58 per share, from $165.4 million, or $1.59 per share.