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Smucker misses 2Q profit forecasts

J.M. Smucker on Wednesday reported net income of $158.3 million in its fiscal second quarter.

On a per-share basis, the Orrville, Ohio-based company said it had net income of $1.55. Earnings, adjusted for non-recurring gains, were $1.53 per share.

The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.

The food maker posted revenue of $1.48 billion in the period.

Smucker expects full-year earnings in the range of $5.45 to $5.65 per share.

Smucker shares have fallen roughly 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent. The stock has dropped slightly more than 6 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. SJM stock research report from Zacks.