The J. M. Smucker Company raised its fiscal 2027 outlook after posting first-quarter adjusted earnings per share of $3.24, up 71% year over year and ahead of the Zacks Consensus Estimate of $2.21. Net sales rose 5% year over year to $2,219.3 million, topping the consensus estimate of $2,105 million, on higher net price realization, favorable volume/mix and tariff refunds received during the quarter. Adjusted gross margin expanded to 42.8% from 35.2%, and excluding the $115 million benefit from tariff refunds it still improved 240 basis points. The company now expects fiscal 2027 net sales to decline 1% to 2%, compared with its previous outlook for a 3% to 4% drop, and lifted adjusted earnings per share guidance to $10.50-$11.00 from $9.75-$10.25, reflecting a net benefit of approximately $60 million related to tariff refunds after planned investments in selling, distribution and administrative expenses. Smucker also raised its free cash flow outlook to approximately $1,100 million from $1,000 million, and said it reduced debt by approximately $230 million during the quarter, reaching its leverage target of at or below 3.0X net debt to adjusted EBITDA earlier than expected.
The J. M. Smucker CompanyQ1 adjusted EPS of $3.24 beat estimates and Smucker raised fiscal 2027 EPS, sales, and free cash flow guidance while cutting debt.
