Consumer foods company J.M. Smucker Co. reported a fiscal fourth-quarter net loss of $90.3 million, or 82 cents a share, compared with a profit of $118.5 million, or $1.16 a share, in the year earlier period. Excluding non-recurring items, such as the impact of the Big Heart Pet Brands acquisition and debt costs, adjusted earnings per share were 98 cents, just below the FactSet consensus of 99 cents. Sales rose 17% to $1.45 billion, while adjusted revenue fell to $1.21 billion from $1.23 billion, which was in line with the FactSet consensus of $1.21 billion. For fiscal 2016, the expects adjusted EPS of $5.65 to $5.80 and net sales of about $8 billion, compared with FactSet consensus estimates of $5.85 and $7.95 billion, respectively. The stock, which was still inactive in premarket trade, has run up 17% year to date, while the S&P 500 has gained 2.7%.
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