J.M. Smucker (NYSE:SJM) shares gained more than 3% in premarket trading on Wednesday after the packaged foods company delivered stronger-than-expected first-quarter earnings and revenue and raised its full-year profit guidance.
The company reported earnings of $3.24 per share, comfortably ahead of the analyst consensus estimate of $2.21. Revenue increased 5% year-over-year to $2.2 billion, exceeding expectations of $2.12 billion.
Higher coffee prices and Uncrustables support sales growth
J.M. Smucker said the improvement in net sales included a four-percentage-point contribution from higher realised pricing, largely reflecting increased coffee prices.
Volume and product mix added another percentage point to growth, supported by stronger demand for Uncrustables sandwiches and coffee. These gains were partially offset by weaker sales of sweet baked goods and peanut butter.
“Our first quarter results exceeded our expectations for both net sales and adjusted earnings per share, demonstrating continued momentum across the Company,” said CEO Mark Smucker. “Our performance reflects the strength of our differentiated portfolio, disciplined execution against our strategic priorities, and the investments we continue to make in our brands and capabilities.”
J.M. Smucker raises fiscal 2027 earnings guidance
Following the better-than-anticipated start to the year, J.M. Smucker increased its fiscal 2027 earnings guidance to between $10.50 and $11.00 per share.
That compares with the company’s previous forecast of $9.75 to $10.25 and places the entire new range above the current analyst consensus estimate of $10.05.
The company also improved its annual sales outlook. Net sales are now forecast to decline between 1.0% and 2.0% from the previous year, compared with its earlier expectation for a decrease of between 3.0% and 4.0%.
The combination of a sizeable first-quarter earnings beat, better-than-expected revenue and improved annual guidance helped lift J.M. Smucker shares, with stronger pricing and demand across key product categories providing momentum at the start of fiscal 2027.
JM Smucker stock price
