Author: Reuters

Jif peanut butter maker JM Smucker topped Wall Street estimates for third-quarter earnings, as demand for its high-priced pet food and pantry staples held up amid a backdrop of rising prices in a high-inflation environment. Demand for JM Smucker’s frozen snacks such as Uncrustables frozen sandwiches remained strong even as home cooking became more popular among consumers affected by inflation. The Orrville, Ohio-based company posted third-quarter net sales of $2.23 billion (€2.05 billion), compared with analysts’ average estimate of $2.22 billion (€2.04 billion), according to LSEG data. The company’s volume growth was driven by its Meow Mix cat food and…