JM Smucker's: raies FY targets

(CercleFinance.com) - JM Smucker's says that it is raising its FY 2020-21 targets, now expecting adjusted EPS of between 8.
20-8.60 dollars (vs. 7.90-8.30 dollars previously), with sales growth of 0 to 1% (instead of a fall of -1 to -2%).

The agri-food group - which owns Folgers coffees in particular - explains that this increase reflects high in-the-home consumption and restocking by distributors that has been seen over its first accounting quarter.

Over the period to end-July, JM Smucker's saw its EPS increase by 50% to 2.37 dollars, with revenues up 11% to 1.97 billion dollars, thanks to favourable volume and mix effects.



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