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J. M. Smucker fiscal Q2 profit climbs 25.3% YOY

J. M. Smucker Co. said its normalized net income for the fiscal second quarter ended Oct. 31 was $1.59 per share, compared with the S&P Capital IQ consensus estimate of $1.51 per share.

EPS climbed 6.3% year over year from $1.50.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $189.5 million, an increase of 25.3% from $151.3 million in the prior-year period.

The normalized profit margin dropped to 9.1% from 10.2% in the year-earlier period.

Total revenue rose 40.2% on an annual basis to $2.08 billion from $1.48 billion, and total operating expenses grew 41.4% year over year to $1.73 billion from $1.22 billion.

Reported net income grew 11.8% year over year to $175.2 million, or $1.47 per share, from $156.7 million, or $1.55 per share.