Reported 2 days ago
Packaged food company J.M. Smucker has forecasted annual profit below analysts’ expectations due to tariff uncertainties and rising costs affecting demand for its products, causing a 14% drop in its shares. The company anticipates earnings per share between $8.50 and $9.50, lower than the $10.26 expected by analysts, as it grapples with inflation in commodity prices, particularly green coffee. Additionally, J.M. Smucker plans to raise prices on its coffee products to mitigate these costs.
Source: YAHOO