The grocery maker has reported
The JM Smucker Company (NYSE: SJM), a US grocery manufacturer has released its report for the third quarter of fiscal 2022.
The company's net sales decreased by $19.6 million (1%). Also, net sales excluding asset sales and foreign exchange increased 4 percent.
Net income per diluted share was $0.64, down 72 per cent. This was largely due to non-cash impairment losses on intangible assets in the pet food retail segment in the US.
Also, adjusted earnings per share were $2.33, down 5%.
Revenue from operations was $439.7 million, a decrease of 10 percent.
Free cash flow was $322.4 million, down from $416.6 million in the previous year.
At the time of writing, the company's share price is US$130. However, at the start of trading, the company's share price was US$135.17. Also, at the time of writing 9:35 EST, the total volume of shares bought and sold so far in the period since the beginning of the trading day (Volume) is 160,373.
The J.M. Smucker Company is a manufacturer of products from America. The company was founded in 1897.
It is worth noting that US stock indices fell on Tuesday and Russia's invasion of Ukraine continues to affect market sentiment, pushing US oil prices above $101 a barrel.
US benchmark crude crossed the $100 a barrel mark early on Tuesday.
