J.M. Smucker Q1 Earnings: Sales Down 1%, Raises Full-Year Outlook to 3.0%-5.0% Growth

J.M. Smucker Company reported Q1 earnings with net sales of $2.1 bln, a 1% decrease due to divestitures. Adjusted EPS fell 22% to $1.90, and net loss per diluted share was $0.41. Cash flow from operations declined to -$10.6 mln. The company raised its full-year fiscal 2026 outlook to 3.0%-5.0% net sales growth. Despite challenges, J.M. Smucker remains focused on investing in growth platforms to drive long-term growth and shareholder value.

J.M. Smucker Co. (NYSE: SJM) reported its fiscal 2026 first-quarter (Q1) results, revealing a 1% decrease in net sales to $2.1 billion [1]. The company's net loss per diluted share was $0.41, with adjusted earnings per share (EPS) at $1.90, a 22% decrease from the prior year [1]. Cash used for operating activities was $10.6 million, compared to cash provided by operating activities of $172.9 million in the prior year [1].

Despite the overall decrease in net sales, excluding the impact of divestitures and foreign currency exchange, net sales increased by 2% [1]. The company's Chief Executive Officer, Mark Smucker, noted that the results reflect strong top-line growth driven by consumer demand for leading brands and disciplined cost management [1].

The company also updated its full-year fiscal 2026 financial outlook. Net sales are now expected to increase by 3.0 to 5.0 percent, with comparable net sales expected to increase by approximately 4.5 to 6.5 percent [1]. Adjusted EPS is expected to range from $8.50 to $9.50, and free cash flow is projected to be approximately $975.0 million at the midpoint of the adjusted EPS guidance range [1].

The first-quarter results highlight the company's ongoing challenges, including the impact of divestitures and higher commodity costs. However, the updated outlook reflects the company's expectation of sustained momentum for its portfolio of leading brands and disciplined cost management.

References:
[1] https://www.marketscreener.com/news/the-j-m-smucker-co-announces-fiscal-2026-first-quarter-results-ce7c50dedd8bf626