Smucker Q1 Beats, Raises FY27 Guidance on Tariff Refunds
SJM sits 42% above its 52-week low of $88.25.
Summary
Smucker reported Q1 FY2027 adjusted EPS of $3.24, up 71%, and raised full-year guidance on the back of $115M in tariff refunds and stronger coffee pricing.
Updates
· Reuters — Smucker narrowed its expected annual sales decline to 1-2% from 3-4% and reported Q1 gross profit of $504.9M including tariff refunds.
Key Events · Earnings and Guidance · SJM
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Q1 Adjusted EPS Beats by 71%
Adjusted EPS of $3.24 vs. $1.90 prior year, including a $0.84 benefit from tariff refunds received in the quarter.
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Full-Year Guidance Raised
FY2027 adjusted EPS raised to $10.50-$11.00 from $9.75-$10.25; net sales decline narrowed to 1-2% from 3-4%; free cash flow raised to ~$1.1B.
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Tariff Refunds Boost Results
Approximately $115.0M in tariff refunds received during Q1, contributing ~$0.60 net to full-year adjusted EPS after planned SD&A investments.
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Cash Flow Swings Positive
Operating cash flow of $425.7M vs. -$10.6M prior year; free cash flow of $337.3M vs. -$94.9M prior year.
Analysis · SJM · Manufacturing
Smucker delivered a strong fiscal Q1: adjusted EPS of $3.24 crushed the prior-year $1.90 and included a one-time $0.84 benefit from tariff refunds. Management raised full-year adjusted EPS guidance to $10.50-$11.00 from $9.75-$10.25, narrowed the expected net sales decline to 1-2%, and lifted free cash flow guidance to ~$1.1B. The quarter also swung operating cash flow from a $10.6M use to a $425.7M source. The stock trades near its 52-week high, so the raised outlook validates the recent run, though roughly $0.60 of the full-year EPS lift is tied to tariff refunds rather than underlying operations.
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In the 30 days to Nov 4, 2026, 41.4% of the 1217 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.35%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SJM was trading at $125.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $13.4B. The 52-week trading range was $88.25 to $127.65. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.