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J.M. Smucker Shares Drop on Earnings Miss, Tariff Impact
J.M. Smucker Shares Drop on Earnings Miss, Tariff Impact
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BTCCSquare news:
J.M. Smucker Co. shares tumbled as much as 9.3% after reporting weaker-than-expected fiscal third-quarter earnings, with tariffs exacerbating profit declines. The packaged food giant posted a 1% revenue drop to $2.1 billion, while adjusted earnings per share plunged 22% to $1.90. Both metrics fell short of analyst estimates.
Despite the quarterly underperformance, management raised full-year revenue growth guidance to 3%-5%, up from 2%-4%, citing price hikes on coffee and other commodities affected by tariffs. Free cash FLOW projections increased by $100 million to $975 million, though the boost primarily stemmed from tax benefits rather than operational improvements.
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