J. M. Smucker (SJM) Reports Q1: Everything You Need To Know Ahead Of Earnings

Petr Huřťák /
2024/06/05 3:01 am EDT

Packaged foods company J.M Smucker (NYSE:SJM) will be reporting results tomorrow before market hours. Here's what to look for.

J. M. Smucker met analysts' revenue expectations last quarter, reporting revenues of $2.23 billion, flat year on year. It was a mixed quarter for the company. J. M. Smucker beat analysts' EPS expectations. On the other hand, its gross and operating margins both missed Wall Street's estimates. Guidance was ok, with full year comparable sales growth maintained from previous and full year EPS guidance coming in slightly ahead of expectations and raised from the previous range given.

Is J. M. Smucker a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting J. M. Smucker's revenue to be flat year on year at $2.24 billion, slowing from the 9.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.33 per share.

J. M. Smucker Total Revenue

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 three times over the last two years.

Looking at J. M. Smucker's peers in the shelf-stable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hershey delivered year-on-year revenue growth of 8.9%, beating analysts' expectations by 4.5%, and BellRing Brands reported revenues up 28.3%, topping estimates by 5.9%. Hershey's stock price was unchanged after the results, while BellRing Brands was up 2.1%.

Read our full analysis of Hershey's results here and BellRing Brands's results here.

Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices flat over the last month. J. M. Smucker is down 1.9% during the same time and is heading into earnings with an average analyst price target of $129 (compared to the current share price of $110.82).

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