February 26, 2019 / 12:12 PM / in 3 months

J.M. Smucker's quarterly sales beat estimates

Feb 26 (Reuters) - Packaged food maker J.M. Smucker Co on Tuesday reported quarterly sales that beat Wall Street estimates, benefiting from higher demand for its Dunkin’ Donuts-branded coffees and premium pet foods such as Nutrish.

The company’s net income fell to $121.4 million, or $1.07 per share, in the third quarter ended Jan. 31, from $831.3 million, or $7.32 per share, a year earlier, as it recorded a impairment charge related to its pet foods segment.

Net sales rose to $2.01 billion from $1.90 billion, beating the average analyst estimate of $1.99 billion, according to IBES data from Refinitiv. (Reporting by Soundarya J in Bengaluru; Editing by Maju Samuel)

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