J.M. Smucker drops after downbeat annual earnings forecast

Shares of Uncrustables maker J.M. Smucker SJM.N down 8.5% at $102.39 premarket

Co forecasts annual adjusted EPS between $8.50 and $9.50, below analysts' estimates of $10.26 - data compiled by LSEG

However, co forecasts annual net sales growth between 2% and 4%, above the expected 1.84% growth

Says outlook impacted by a dynamic and evolving external environment, including tariffs and related trade impacts, regulatory and policy changes, ongoing input inflation, and changes in consumer behaviors

Q4 net sales fell 3% to $2.14 billion, narrowly missing estimates of $2.19 billion, while adjusted EPS of $2.31 beat expectations of $2.13

Up to last close, stock had risen 1.6% YTD