Packaged foods company J.M Smucker (NYSE: SJM) will be reporting results this Thursday before the bell. Here’s what investors should know.
J. M. Smucker met analysts’ revenue expectations last quarter, reporting revenues of $2.33 billion, up 2.6% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ gross margin estimates but full-year EPS guidance slightly missing analysts’ expectations.
Is J. M. Smucker a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting J. M. Smucker’s revenue to grow 6.5% year on year, a reversal from the 1.9% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. J. M. Smucker has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at J. M. Smucker’s peers in the shelf-stable food segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Hershey delivered year-on-year revenue growth of 7%, beating analysts’ expectations by 3.8%, and BellRing Brands reported flat revenue, topping estimates by 6.7%. Hershey traded up 12.5% following the results while BellRing Brands was down 13.4%.
Read our full analysis of Hershey’s results here and BellRing Brands’s results here.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 3.7% on average over the last month. J. M. Smucker is up 5.9% during the same time and is heading into earnings with an average analyst price target of $116.40 (compared to the current share price of $109.34).
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