JM Smucker (SJM), a branded food manufacturer, early Friday reported fiscal Q2 adjusted earnings of $2.26 per share, up from $2.17 in the same period a year ago and topping the estimate of $2.14 from analysts polled by Capital IQ.

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For the quarter ended Oct. 31, total revenue of $1.96 billion was down from $2.02 billion a year ago and missed the Street projection of $1.97 billion.

JM Smucker, whose brands include Jif and Folgers, lowered its full-year adjusted EPS guidance to a range of $8.10 to $8.30 from a prior range of $8.35 to $8.55. The new guidance straddles the Street projection of $8.27.

Also, the company expects a 3% decline in full-year sales from $7.84 billion in fiscal 2019, revised from a prior forecast for sales in the range of flat to down 1%. The new guidance implies an expectation of $7.60 billion in revenue, below the Street projection of $7.71 billion.

JM Smucker shares fell 2.1% ahead of Friday’s opening bell.

JM Smucker (SJM), a branded food manufacturer, early Friday reported fiscal Q2 adjusted earnings of $2.26 per share, up from $2.17 in the same period a year ago and topping the estimate of $2.14 from analysts polled by Capital IQ.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

For the quarter ended Oct. 31, total revenue of $1.96 billion was down from $2.02 billion a year ago and missed the Street projection of $1.97 billion.

JM Smucker, whose brands include Jif and Folgers, lowered its full-year adjusted EPS guidance to a range of $8.10 to $8.30 from a prior range of $8.35 to $8.55. The new guidance straddles the Street projection of $8.27.

Also, the company expects a 3% decline in full-year sales from $7.84 billion in fiscal 2019, revised from a prior forecast for sales in the range of flat to down 1%. The new guidance implies an expectation of $7.60 billion in revenue, below the Street projection of $7.71 billion.

JM Smucker shares fell 2.1% ahead of Friday’s opening bell.