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PR Newswire·

The J.M. Smucker Co. Announces Fiscal Year 2027 First Quarter Results and Updates Full-Year Fiscal 2027 Outlook

SJM
  • The J.M. Smucker Co. reported first-quarter fiscal 2027 net sales of $2.2 billion, a 5 percent increase year-over-year.
  • Adjusted earnings per share reached $3.24, a 71 percent increase, which included an $0.84 benefit from tariff refunds.
  • Operating cash flow was $425.7 million, compared to $10.6 million used in the prior year, while free cash flow was $337.3 million versus a negative $94.9 million previously.
  • The company updated its full-year fiscal 2027 outlook to expect net sales to decrease 1.0 to 2.0 percent, with adjusted earnings per share ranging from $10.50 to $11.00.
  • Updated full-year free cash flow guidance is approximately $1.1 billion, with capital expenditures maintained at $325.0 million.
  • Net sales growth was driven by a 4 percentage point increase in net price realization, primarily from higher coffee pricing, & a 1 percentage point increase from volume/mix.
  • Gross profit increased 106 percent to $979.6 million, largely due to lower costs, favorable pricing, & approximately $115.0 million in tariff refunds.
  • U.S. Retail Coffee segment sales rose 13 percent to $807.8 million, while Sweet Baked Snacks sales declined 7 percent to $236.5 million.
  • Segment profit margins improved significantly in U.S. Retail Coffee & U.S. Retail Frozen Handheld and Spreads, but decreased in U.S. Retail Pet Foods & Sweet Baked Snacks.
  • Net interest expense decreased 18 percent to $82.3 million due to reduced debt outstanding, & the effective income tax rate was 24.2 percent.
  • The company operates in a dynamic external environment involving geopolitical & macroeconomic factors that could impact the fiscal 2027 outlook.