J. M. Smucker Reaffirms FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Wednesday, J. M. Smucker Co. (SJM) reaffirmed its adjusted earnings and net sales growth guidance for the full-year 2020.

For fiscal 2020, the company reaffirmed its guidance for adjusted earnings in the range of $8.10 to $8.30 per share on net sales decline of 3 percent.

Net sales outlook incorporates the loss of $105.9 million of sales in the first four months of fiscal 2019 related to the divested U.S. baking business and $25.4 million of incremental noncomparable sales for Ainsworth Pet Nutrition, LLC. On a comparable basis, net sales are expected to be down 2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.15 per share on a sales decline of 3.1 percent to $7.60 billion for the year. Analysts' estimates typically exclude special items.