J.M. Smucker beats by $0.12, beats on revs; guides FY18 EPS above consensus (106.51)
Reports Q2 (Oct) earnings of $2.02 per share, $0.12 better than the Capital IQ Consensus of $1.90; revenues rose 0.5% year/year to $1.92 bln vs the $1.9 bln Capital IQ Consensus.
Co issues upside guidance for FY18, sees EPS of $7.75-7.90 vs. $7.74 Capital IQ Consensus Estimate, but narrowed from $7.75-7.95 prior
The change in earnings guidance further reflects anticipated freight cost increases for the remainder of the fiscal year, driven by industry-wide headwinds.