J. M. Smucker (NYSE:SJM) announced that second quarter earnings increased by 17 percent due to higher prices and increased sales from an acquisition. The peanut butter and jelly maker earned $148.8 million, or $1.36 per share, versus $127.2 million, or $1.12 per share, in the same period last year. Analysts had expected a profit of $1.45 per share. Revenue increased by 8 percent to $1.63 billion, meeting expectations.
The company raised its full year forecast to an adjusted profit of between $5.12 and $5.22 per share, versus with a previous range of $5 to $5.10. Sales are expected to increase 7 percent to $5.92 billion.
Shares are lower by over 1.6 percent.
Dole (NYSE:DOLE) announced that it lost $5.3 million, or 6 cents per share for its most recent fiscal quarter. Revenue fell by 6 percent to $1.96 billion. Analysts expected an adjusted profit of 14 cents per share and $2.07 billion in revenue.
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