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J. M. Smucker fiscal Q2 profit climbs YOY

J. M. Smucker Co. said its normalized net income for the fiscal second quarter ended Oct. 31 came to $1.50 per share, compared with the S&P Capital IQ consensus estimate of $1.53 per share.

EPS rose year over year from $1.43.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $151.3 million, a gain from $149.5 million in the year-earlier period.

The normalized profit margin increased to 10.2% from 9.6% in the year-earlier period.

Total revenue decreased 5.0% year over year to $1.48 billion from $1.56 billion, and total operating expenses declined 5.8% from the prior-year period to $1.22 billion from $1.30 billion.

Reported net income grew on an annual basis to $156.7 million, or $1.55 per share, from $152.3 million, or $1.46 per share.