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J. M. Smucker   Adjusted earnings per share were $2.00

J. M. Smucker Q3 net income per diluted share $1.16

SmuckerJ. M. Smucker announced results for the third quarter ended January 31, 2017, of its 2017 fiscal year.

Net income per diluted share was $1.16, including a noncash impairment charge related to certain indefinite-lived trademarks, compared to $1.55 in the prior year.

READ MORE J. M. Smucker reports 22% decline in Q4 bottom line

The prior year included a $0.14 per share gain on the U.S. canned milk divestiture.

Adjusted earnings per share were $2.00 compared to $2.05 in the prior year. Excluding the gain on the divestiture in the prior year, adjusted earnings per share increased 5 percent.

Incremental synergy realization was $26.3 million in the third quarter and $86.8 million through the first three quarters of fiscal 2017.

The company now expects to recognize $120 million of incremental synergies in fiscal 2017, an increase of $20 million from its previous guidance.

Cash provided by operating activities was $419.5 million in the third quarter. Free cash flow was $366.9 million in the quarter and $658.2 million through the first three quarters of fiscal 2017.

The company updated its full-year fiscal 2017 net sales, earnings, and free cash flow outlook.




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