J.M. Smucker Reports 71% Rise in Adjusted EPS Amid Tariff Refund Impact
J.M. Smucker reported first-quarter fiscal 2027 results with adjusted earnings per share (EPS) rising by 71%, driven largely by a $0.84-per-share tariff refund from the U.S. government. The company's net sales reached $2.2 billion, up 5% year-over-year, led by strong performance in its coffee and frozen handheld/spreads segments. Despite the one-time boost, Smucker still outperformed analyst expectations for adjusted EPS when excluding the tariff refund impact. Its U.S. retail coffee segment saw a significant sales increase of 13%, while other divisions like spreads and away-from-home sales also posted modest gains. However, its sweet baked snacks division declined by 7% due to weak demand in snack cakes and breakfast items. The company raised full-year net sales guidance despite anticipating an overall decline for fiscal 2027 compared to the prior year.
Topics: EPS growth food industry retail sales tariffs