J.M. Smucker FY27 Q1: sales up 5%, profit swings on tariff refunds
J.M. Smucker's fiscal 2027 first quarter looked spectacular — net income of $324.3 million versus a year-ago loss — but a $115.0 million tariff refund did much of the work. Sales rose 5.0% to $2.22 billion on coffee pricing, gross margin jumped to 44.1%, and free cash flow swung to $337.3 million. Management still expects full-year sales to fall. View: Neutral.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $3.03 versus a loss of $0.41 a year ago, and adjusted EPS was $3.24, up 71.0%. The adjusted figure included an $0.84 benefit from tariff refunds received in the quarter, so strip that out and the underlying quarter looks far less dramatic. Net income of $324.3 million compared with a $43.9 million loss, helped by gross profit rising 106.0%.
Net sales rose $106.0 million, or 5.0%, to $2.22 billion from $2.11 billion a year earlier. About 4 percentage points came from higher net pricing, mostly coffee, with 1 point from volume/mix as Uncrustables sandwiches and coffee grew while sweet baked goods and peanut butter fell. That makes this mostly a price story rather than a demand story.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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