J.M. Smucker Co. reported Thursday a fiscal first-quarter net profit that fell to $196.7 million, or 96 cents a share, from $246.1 million, or $1.61 a share, in the same period a year ago. Excluding non-recurring items, such as an impairment charge related to indefinite-lived trademarks, adjusted earnings per share came to $1.80, above the FactSet consensus of $1.72. The consumer and pet foods seller said revenue fell 1% to $1.78 billion from $1.81 billion, but beat the FactSet consensus of $1.77 billion, as better-than-expected U.S. retail coffee and consumer foods sales offset a miss in pet foods sales. For fiscal 2018, the expects adjusted EPS of $7.85 to $8.05, surrounding the FactSet consensus of $7.93. The stock, which was still inactive in premarket trade, has edged up 2.2% year to date, while the S&P 500 has gained 8.7%.
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