RTTNews | Aug 25, 2020 07:13AM EDT

07:12 Tuesday, August 25, 2020 (RTTNews.com) - The J. M. Smucker Company (SJM) said, for fiscal 2021, the company now expects adjusted earnings per share in a range of $8.20 - $8.60, revised from prior guidance range of $7.90 - $8.30. Analysts polled by Thomson Reuters expect the company to report profit per share of $8.16. Analysts' estimates typically exclude special items. Net sales are now anticipated to range from flat to up 1 percent compared to the prior year. Previously, the company projected net sales to decline in a range of 2% - 1%.

First quarter adjusted earnings per share was $2.37, an increase of 50 percent. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.67, for the quarter. Analysts' estimates typically exclude special items.

First quarter net sales rose 11% to $1.97 billion. Analysts expected revenue of $1.81 billion for the quarter.

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