J.M. Smucker Co. shares advanced more than 3% in premarket trading on Wednesday after the packaged foods manufacturer reported first-quarter earnings and revenue that exceeded analyst expectations and raised its fiscal 2027 guidance.
The company posted adjusted earnings per share of $3.24 for the quarter ended July 31, compared with the $2.21 consensus estimate compiled by Refinitiv. Revenue rose 5% year-over-year to $2.2 billion, ahead of the $2.12 billion forecast.
Net sales growth was driven by a 4-percentage-point lift from net price realization, primarily reflecting higher coffee pricing, and a 1-percentage-point contribution from volume and mix, led by gains in Uncrustables sandwiches and coffee. These increases were partially offset by declines in sweet baked goods and peanut butter categories.
For the full fiscal year ending April 30, 2027, J.M. Smucker raised its adjusted EPS guidance to a range of $10.50 to $11.00 from the prior $9.75 to $10.25. The company also narrowed its net sales outlook, now projecting a decline of 1% to 2% versus the prior guidance of a 3% to 4% decrease.
CEO Mark Smucker said the quarterly results reflected momentum across the company's portfolio, driven by disciplined execution and ongoing investments in brands and capabilities. The updated guidance underscores confidence in the company's strategic priorities amid evolving market conditions.
