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Chris Markoch

BIZARRE: Sjm surges 9 but hostess weakness clouds outlook | Mind Blowing Facts

Hostess SJM JM Smucker MarketBeat Smucker

The J.M. Smucker Co. (NYSE: SJM) had a good earnings report on a day when it was good for consumer staples stocks to have a good day. SJM stock soared over 9% after the company delivered a double beat and maintained its outlook for full-year adjusted earnings per share (EPS).

The results masked a sizable loss in GAAP earnings due to significant non-cash charges totaling nearly $1 billion for the company’s Sweet Baked Snacks. This largely refers to the Hostess business the company acquired in 2023. Sales for the segment were down 19% and profit dipped by approximately 78%.

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