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JM Smucker Co. (NYSE: SJM) on Tuesday announced its third quarter 2023 financial results, reporting a decline in adjusted earnings and an increase in net sales.
At $2.22 billion, third quarter sales were up 8% year-over-year, reflecting higher sales in all major business divisions except the US Retail Consumer Foods segment which remained unchanged.
Meanwhile, adjusted earnings, excluding special items, fell 5% year over year to $2.21 per share. On a reported basis, net income more than doubled to $208.5 million or $1.95 per share.
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Mark Smucker, the company’s executive director, said, “Looking forward, we will continue to advance our strategic priorities, which have supported our commitment to increase our priorities, increase our profits and product mix, and greater organizational agility, positioning us to deliver consistent top.” – and bottom line growth and shareholder value.
Previous Performance
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