J.M. Smucker Narrows FY Guidance as Quarterly Profit, Revenue Rise

J.M. Smucker SJM -1.20%decrease; red down pointing triangle narrowed its fiscal full-year guidance while higher prices for coffee drove revenue and profit growth in its second quarter.

The food and beverage products company on Tuesday narrowed its expectations for the full fiscal year, lifting the lower end of its net sales growth and trimming the top end. The company now expects net sales to rise 3.5% to 4.5%, compared with its previous guidance of a 3% to 5% increase. Analysts polled on FactSet expect revenue of $9.08 billion.