The J. M. Smucker Company (SJM – Analyst Report) engages in the manufacture and marketing of branded food products worldwide. The company’s primary products include coffee, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, and canned milk.

Strong organic sales growth, product innovation and constant efforts to expand through acquisitions have remained the company’s strong points over the past several quarters. The divestiture of its US canned milk brands and operations to Eagle Family Foods Group will allow the company to focus on the key brands and growth opportunities. Encouragingly, the company will witness growth in coffee volumes in the coming quarters owing to lower coffee price and increase from sales of Dunkin Donuts K-Cup pods. However, currency impact continues to remain a headwind.

Investors should also note the recent earnings estimate revisions for SJM, as the consensus estimate remained unchanged over the past 30 days. SJM has a mixed earnings history. SJM has delivered positive surprise in three of the last four quarters, with one negative surprise, making for an average positive surprise of 4.11%.

Currently, SJM has a Zacks Rank #3 (Hold), but that could definitely change following Smucker’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: SJM posted earnings, including amortization, of $1.76 per share, significantly beating our consensus of $1.62 per share. Excluding amortization, earnings were $2.05 per share. Investors should note that these figures take out stock option expenses.

Revenue: SJM posted revenues of $1.974 billion, missing our consensus estimate of $2.045 billion.

Key Stats to Note: The acquired Big Heart business contributed $580.3 million to net sales in the third quarter of fiscal 2016. Excluding Big Heart, currency impact and the gain from the U.S. canned milk divestiture, net sales declined 1% in the reported quarter.