J.M. Smucker stock gains after adjusted profit, sales rise above expectations, with growth in all 3 business segments

Shares of J.M. Smucker Co. SJM rose 0.7% in premarket trading Tuesday, after the company with food brands including Folgers, Dunkin’, Smuckers and Meow Mix beat fiscal fourth-quarter earnings expectations. For the quarter to April 30, the company swung to a net loss of $600.7 million, or $5.69 a share, from net income of $202.1 million, or $1.87 a share, in the year-ago period.

87 a share, in the year-ago period. Excluding nonrecurring items, such as the divestiture of certain pet food brands, adjusted earnings per share increased to $2.64 from $2.23 and beat the FactSet consensus of $2.14. Sales grew 9.9% to $2.23 billion, above the FactSet consensus of $2.17 billion, boosted by an 11% rise in net price increases. U.S. Retail Coffee sales increased 7% to $692.5 million, U.S. Retail Consumer Foods grew 14% to $453.4 million and U.S.

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