BUZZ-J.M. Smucker up after quarterly profit beat, upbeat annual earnings forecast

J.M. Smucker Company

J.M. Smucker Company

SJM

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** Shares of Uncrustables maker J.M. Smucker SJM.N up 5% at $107 premarket

** Co posts Q4 adjusted EPS of $2.77, above estimates of $2.64; sees annual profit between $9.75 and $10.25, largely above estimates of $9.79- data compiled by LSEG

** Higher pricing, especially for coffee, along with lower debt interest, helped offset rising commodity costs

** Q4 net sales rise of 6% to $2.27 billion, narrowly beat estimates of $2.26 billion

** However, sees annual net sales decreasing between 3% and 4% vs expectations of a 0.7% rise

** Co says it continues to operate in a dynamic and evolving external environment, including geopolitical, macroeconomic, and policy changes, as well as changes in consumer behaviors

** Up to last close, stock has risen 4% YTD