JM Smucker Sees Profit Pressure But Raises Annual Sales Outlook
The J.M. Smucker Company (NYSE:SJM) shares are trading lower on Wednesday.
The company reported first-quarter adjusted earnings per share of $1.90, missing the analyst consensus estimate of $1.93.
Quarterly sales of $2.113 billion (down 1% year over year) missed the Street view of $2.115 billion.
“Our teams demonstrated agility throughout the organization, and though the external environment continues to be dynamic we are successfully managing what we can control,” said Mark Smucker, Chief Executive Officer and Chair of the Board.
Adjusted operating income in the quarter under review fell 17% year over year to $370.3 million.
“Our results reflect strong top-line growth, driven by consumer demand for our portfolio of leading brands, and bottom-line results that reflect disciplined cost management and execution,” Smucker added.
Adjusted EBITDA as of quarter end was $178.9 million, lower than $475.4 million in the year-ago period.
Adjusted EBITDA margin contracted to 8.5% from 22.4% a year ago.
The company exited the quarter with cash and equivalents worth $39.3 million, significantly lower than $69.9 million as of April 30, 2025.
Outlook
JM Smucker reaffirmed its fiscal year 2026 adjusted earnings per share guidance of $8.50 to $9.50, compared to the $9.17 estimate.
The company raised its fiscal year 2026 sales outlook to a range of $8.988 billion to $9.162 billion, up from its prior guidance of $8.901 billion to $9.075 billion, compared with the $8.993 billion consensus estimate.
Price Action: SJM shares are trading lower by 4.44% to $105.68 at last check Wednesday.
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