Folgers parent J.M. Smucker reiterates 2021 guidance and sets long-term goals

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J.M. Smucker Co. said Thursday it still expects 2021 sales to be flat to up 1% and adjusted per-share earnings to range from $8.35 to $8.65. The company also provided long-term goals ahead of an investor day, with sales growth of 2%, adjusted EPS growth of 8% and total shareholder returns of 10% or more. “We are implementing a focused strategic plan, including reshaping our portfolio, streamlining our organization, and updating our commercial model to transform how we deliver for our customers and consumers, as well as deliver sustainable shareholder value,” said Mark Smucker, president and chief executive in a statement. The company will reprioritize investment in high growth areas and exit brands and businesses that are no longer deemed strategic. Shares were slightly higher premarket, and have gained 13% in the year to date, while the S&P 500 has gained 13.7%.
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