J.M. Smucker forecasts annual profit below estimates as coffee inflation bites

Core Viewpoint - J.M. Smucker has forecasted annual profit below analysts' estimates due to a surge in coffee costs, which is expected to squeeze its margins, resulting in a 3% decline in shares of the food maker [1] Company Summary - J.M. Smucker anticipates that rising coffee costs will negatively impact its profit margins, leading to a forecast that falls short of analysts' expectations [1] - The company's shares experienced a 3% drop following the announcement of the profit forecast [1] Industry Summary - The food industry, particularly companies involved in coffee production and sales, may face challenges due to increasing raw material costs, which could affect profitability and stock performance [1]