J. M. Smucker Issues FY19 Outlook - Quick Facts

(RTTNews) - The J. M. Smucker Company (SJM) announced, for fiscal 2019, net sales are expected to increase 13% from prior year to $8.3 billion, primarily reflecting the acquisition of Ainsworth. Adjusted earnings per share is expected to range from $8.40 to $8.65. The company noted that the anticipated year-over-year increase in earnings reflects contributions from the Ainsworth acquisition, the full-year benefit of a lower effective tax rate as a result of U.S. income tax reform, and the cost savings initiatives.

Fourth-quarter adjusted earnings per share was $1.93, an increase of 7 percent. Net sales were comparable to the prior year.

"While fourth quarter adjusted earnings per share was below our projections due to industry-wide headwinds and certain discrete items, the actions we are taking to align our portfolio for growth set up our business to win," said Mark Smucker, CEO.