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J. M. Smucker profit misses consensus by 16.7% in fiscal Q1

J. M. Smucker Co. said its normalized net income for the fiscal first quarter ended July 31 was $1.14 per share, compared with the S&P Capital IQ consensus estimate of $1.37 per share.

EPS decreased year over year from $1.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $115.1 million, a decrease of 6.4% from $122.9 million in the year-earlier period.

The normalized profit margin declined to 8.7% from 9.1% in the year-earlier period.

Total revenue fell year over year to $1.32 billion from $1.35 billion, and total operating expenses came to $1.12 billion, compared with $1.13 billion in the prior-year period.

Reported net income decreased 7.9% from the prior-year period to $115.2 million, or $1.14 per share, from $125.1 million, or $1.19 per share.