J.M. Smucker Co.'s net earnings rose to $1.15 billion for the nine months ending Jan. 31, compared to $481.9 million in the same period a year ago.
The increase of 139.20% was buoyed by a benefit of $765.8 million recorded in the fiscal third quarter, related to the new U.S tax law.
Net sales for the period fell to $5.58 billion from the previous year's $5.61 billion, while cost of sales increased to $3.43 billion compared to $3.42 billion previously.
Adjusted EBITDA fell 1.42% to $1.21 billion from $1.23 billion in the same period a year ago.
The company's EPS increased to $10.15 from $4.14 in the same period a year ago.