J.M. Smucker's profit jumps 14 pct on low commodity costs
Aug 21 (Reuters) - J.M. Smucker Co, the maker of Folgers coffee and Jif peanut butter, reported better-than-expected quarterly profit, helped by lower coffee and peanut costs.
Net income rose 14 percent to $126.6 million, or $1.19 per share, in the quarter ended July 31, from $110.9 million, or $1.00 per share, a year earlier.
Excluding certain items, the company earned $1.24 per share.
Net sales fell 1 percent to $1.35 billion in the first quarter.
Analysts on average were expecting the company to earn $1.20 per share on revenue of $1.34 billion, according to Thomson Reuters I/B/E/S.