J.M. Smucker (NYSE:SJM) reported Q1 EPS of $1.12, ex-items, ahead of consensus estimates of $1.08 per share. Revenues for the quarter rose 13.6% year-over-year to $1.19 billion, missing consensus estimates of $1.25 billion.
The company sees 2012 EPS of $5.00 to $5.15, ex-items, vs. consensus estimates of $5.12 per share.
Richard Smucker, Chief Executive Officer of the company commented, "We delivered strong sales and earnings growth this quarter, with net price realization across most categories and contributions from the recently acquired Rowland Coffee business. While the market place remains very competitive, we are confident in our team's ability to respond swiftly in the current environment to meet the needs of our consumers. Additionally, we are encouraged that costs have moderated in the green coffee markets. As a result, we are confident in confirming our earnings outlook for the fiscal year. Further, we remain committed to building our brands for the long-term."
JM Smucker has a potential upside of 8.6% based on a current price of $73.87 and an average consensus analyst price target of $80.22.