J.M. Smucker Q1 tops views

Investor's Business Daily – Sat 18 Aug, 2012 3:56 AM IST

The maker of Jif peanut butter, Folgers coffee and its namesake jelly said Q1 EPS rose 4% to $1.17, topping views by 17 cents on higher prices. Sales jumped 15% to $1.37 bil on the $350 mil acquisition of part of Sara Lee's food-service business. U.S. coffee division sales grew 4% on sales of K-Cup coffee pods. J.M. Smucker (SJM) reiterated its full year EPS range of $5-$5.10 but expects to be in the high end of that range. Analysts are expecting $5.10. Shares rose 5.1% to 82.96.

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