Smucker meets 3Q profit forecasts

ORRVILLE, Ohio (AP) _ J.M. Smucker Co. (SJM) on Friday reported fiscal third-quarter earnings of $134.6 million.

On a per-share basis, the Orrville, Ohio-based company said it had net income of $1.16. Earnings, adjusted for one-time gains and costs, were $2 per share.

The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of $2 per share.

The food maker posted revenue of $1.88 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $1.92 billion.

Smucker expects full-year earnings in the range of $7.60 to $7.70 per share.

Smucker shares have increased nearly 8 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 5 percent. The stock has climbed nearly 8 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SJM at https://www.zacks.com/ap/SJM

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