SJM - J.M. Smucker +2% after topping Q3 earnings lifting profit guidance

J.M. Smucker (SJM) reports organic sales rose 4.0% in FQ2 to top the consensus mark of +2.6%. The company pointe to a favorable volume/mix for the U.S. Retail Coffee and U.S. Retail Consumer Foods segments, reflecting elevated at-home consumption, partially offset by reduced volume/mix for the Away From Home operating segment. Net price realization and foreign currency exchange were neutral during the quarter. Revenue was higher than expectations in the U.S. Coffee ($594.7M vs $589.2M consensus), U.S. Consumer Foods ($479.1M vs. $468.6M consensus) and International/Away From Home ($251.5M vs. $248.7M consensus) segments. Adjusted operating margin was 20.1% of sales vs. 18.8% consensus. Looking ahead, J.M. Smucker sees full-year sales rising 1% to 2% and EPS of $8.55 to $8.85 vs. $8.20 to $8.60 prior and $8.64 consensus. Shares of J.M. Smucker are up 1.68% in premarket trading to $118.00.Previously: J. M. Smucker EPS beats by $0.16, beats on revenue

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J.M. Smucker +2% after topping Q3 earnings, lifting profit guidance