The JM Smucker Company (NYSE: SJM) has reported lower earnings and net sales for the third quarter of 2022, reflecting weak performance by the company’s consumer foods and pet foods businesses.
Net income, excluding special items, declined to $2.33 per share in the January-quarter from $2.45 per share in the corresponding period of last year. Unadjusted net profit was $69.7 million or $0.64 per share, sharply lower than $261.5 million or $2.32 per share reported in the third quarter of 2021.
The weak bottom-line performance reflects a 1% year-over-year decline in net sales to $2.1 billion. An increase in sales at the US retail coffee and international & away-from-home segments was more than offset by a decline in the consumer foods and pet foods divisions.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Fast-food chain McDonald’s Corporation (NYSE: MCD) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when its revenues remained broadly unchanged. The company said fourth-quarter
General Motors Co. (NYSE: GM) reported fourth quarter 2022 earnings results today. Revenue increased 28.4% year-over-year to $43.1 billion. Net income attributable to stockholders increased 14.8% to $2 billion while EPS rose 19.8%
Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) reported double-digit growth in fourth-quarter revenues and adjusted earnings. Adjusted net profit increased to $3.86 per share in the December quarter from $2.69 per