Shares of The J.M. Smucker Co. (SJM) advanced Thursday after the food producer beat 𒀰profit estimates as it c💜ut costs, raised prices, and benefited from its purchase of Hostess Brands.

The company behind the eponymous jelly, Jif peanut butter, and Folgers coffee posted fourth-quarter fiscal 2024 adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.66, above the $2.32 consensus of analysts compiled by Visible Alpha. Revenue fell 1.3% to $2.21 billion, missing forecasts.

Smucker noted gross profit jumped 15.3% to $913.3 million, which it attributed primarily to “🧜a favorable impact from the acquisition of Hostess Brands, lower costs, higher net price realization, and 💫favorable volume/mix.”

Smucker CEO Says Results Driven by 'Disciplined Cost Management'

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Mark Smucker explained that🌠 the results were driven by “superior execution and disciplined cost management.” He said that Smucker’s transformed portfolio, including the addition of Hostess Brands, “has strengthened our business for long-term profitable growth across our key platforms of coffee, Uncrustables frozen sandwiches, dog snacks and cat food, and sweet baked snacks."

Sweet baked snacks, a specialty of Hostess Brands, made up more than 15% of Smucker's revenue in the quarter. Smucker completed its $5.6 billion purchase of Hostess Brands last November.

The company sees fiscal 2025 adjusted EPS of $9.80 to $10.20, wi🎉th revenue up 9.5% to 10.5%. In 2024 the figures were $9.94 and a decrease of 4.1%, res🤡pectively.

Smucker shares surged 6% to $116.92 as of 10:37 a.m. ET Thursday but still are nearly 8% lower for 2024.