07:35 AM EDT, 08/28/2024 (MT Newswires) -- J.M. Smucker (SJM) reported fiscal Q1 adjusted earnings Wednesday of $2.44 per diluted share, up from $2.21 a year earlier.

Analysts polled by Capital IQ expected $2.17.

Net sales for the quarter ended July 31 were $2.13 billion compared with $1.81 billion a year earlier.

Analysts polled by Capital IQ expected $2.13 billion.

The company said it now expects fiscal 2025 adjusted EPS of $9.60 to $10.00, compared with the previous range of $9.80 to $10.20. Net sales growth is now seen at 8.5% to 9.5%, compared with 9.5% to 10.5% previously. Analysts polled by Capital IQ expect adjusted EPS of $10.03 on revenue of $8.98 billion.

J.M. Smucker shares were 2.2% lower in premarket trading.

Price: 120.00, Change: -0.70, Percent Change: -0.58