November 28, 2018 / 12:10 PM / 19 days ago

J.M. Smucker quarterly sales miss estimates, cuts FY forecast

Nov 28 (Reuters) - J.M. Smucker Co reported lower-than-expected second-quarter sales on Wednesday, hit by lower prices and also cut its full-year profit and sales forecast.

Net income fell to $188.5 million, or $1.66 per share, in the second quarter ended Oct. 31, from $194.6 million, or $1.71 per share, a year earlier.

Net sales rose to $2.02 billion from $1.92 billion, missing analysts’ estimate of $2.05 billion, according to IBES data from Refinitiv. (Reporting by Soundarya J and Ishita Palli in Bengaluru)

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