00:00It's Benzinga, bringing Wall Street to Main Street.
00:02JM Smucker raised its full-year outlook after first-quarter adjusted earnings and sales topped
00:07expectations, according to the Wall Street Journal. The company reported first-quarter
00:12adjusted earnings of $3.24 per share and net sales of $2.22 billion, topping Wall Street
00:18expectations of $2.22 per share and $2.13 billion, respectively. Net sales rose 5%,
00:26helped partly by higher coffee prices. JM Smucker raised its full-year adjusted earnings outlook
00:32to $10.50 to $11 per share from $9.75 to $10.25, above Wall Street's 10.07 estimate.
00:40The owner of Jif Peanut Butter and Folgers Coffee now expects net sales to decline 1% to 2%,
00:47compared with its previous forecast for a 3% to 4% decline. Shares jumped 6% to $133 in
00:55pre-market
00:55trading. For all things money, visit Benzinga.com.
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