The J.M. Smucker Co. (NYSE: SJM) reported its second quarter 2024 earnings results today.
Net sales decreased 12% year-over-year to $1.94 billion. Comparable net sales increased 7%.
Net income increased 2% to $195 million and EPS grew 6% to $1.90 compared to last year. Adjusted EPS rose 8% to $2.59.
Earnings beat expectations but sales fell short.
For the full year of 2024, comparable net sales are expected to increase 8.5-9.0% YoY. Adjusted EPS is expected to be $9.25-9.65.
The stock gained over 3% in premarket hours on Tuesday.