JM Smucker lifts FY sales forecast

Today JM SMUCKER today (August 27) has increased its expectations for net sales of the entire year after the first quarter of the money that won the administration’s expectations.

The change in predictions was slight, but it was a positive news of an American manufacturer who had questions in Wall Street on parts of its strategy.

JM SMUCKER, which also has brands including Hostess Twinkies, now you see its net sales grow by 3-5 %, increasing its previous 2-4 % expectations.

The company maintained its expectations for the annual profits per share unchanged at 8.50-9.50 dollars.

“Our results in the first quarter have exceeded our expectations and reflect the momentum of continuous work. Our teams showed light movement throughout the institution, and although the external environment is still dynamic, we successfully manage what we can control,” said CEO and president Mark Smoker.

Without a corpse, the price of JM SMUCKER shares in pre -market trading decreased due to the company’s expectations for the modified quarter.

In the three months until the end of July, net sales of JM SMUCKER decreased by 1 % to $ 2.11 billion. باستثناء مبيعات الأصول الأخيرة وأسعار الصرف ، زادت صافي المبيعات بنسبة 2 ٪.

Total profits decreased by 40 % to 474.7 million dollars amid high commodity costs, “unacceptable size/mixture” and the effect of disposal.

In February, JM SMUCKER sold her Cloperhill and Big Texas brands to her American JTM Foods colleague.

Last October, the company emptied the Voortman Cookies Cookies brand to Maker Second Maker Second Nature.

JM SMUCKer recorded a loss in the first quarter of $ 43.9 million for a net profit of $ 185 million in the first quarter of its previous financial year.

“Given the results of the first quarter of the expected better than expected and continuous momentum of our leading brands, we raise our net sales expectations for the fiscal year. We are still focusing on investing in the main growth platforms that will enable us to provide long -term growth and increase the value of shareholders.”

In June, JM SMUCKer said it was “our priorities” for the sweet snacks section after reserving another set of disabilities against business.

The company recorded the $ 980 million disability fee consisting of $ 867.3 million linked to good faith in the sweet snack unit and weakness of 112.7 million dollars linked to the host brand.

JM SMUCKER, which acquired Maker signs of snacks in a $ 5.6 billion deal, recorded more than a billion dollars in disability fees for the same units in March.

The Hostess acquisition of the eyebrows in Wall Street at the time, while some analysts were interrogated by Voortman’s work.