JM Smucker Co. has increased its earnings per share guidance after experiencing strong sales of its Uncrustables frozen sandwiches, which have surpassed expectations.
In the fiscal second quarter ending on October 31, the company reported net sales of $2.3 billion, showing a 2% growth when excluding acquisitions, divestitures, and foreign currency impacts.
The company has revised its earnings per share forecast to $10.10, up from the previous estimate of $10. This positive outlook is a result of the impressive performance of its popular product line, indicating a high demand in the market.