J.M. Smucker reported fiscal first-quarter results on Wednesday that exceeded ******* yst expectations and raised its full-year earnings forecast, driven in part by tariff refunds and stronger coffee sales.
For the quarter ended July 31, Smucker earned an adjusted $3.24 a share, compared with $1.90 in the same period last year. That surpassed the Wall Street consensus estimate of $2.22 a share, according to Barron's. The adjusted earnings figure included an 84-cent-per-share benefit from tariff refunds received during the quarter. Net sales rose 5% to $2.22 billion, the company said.
On a GAAP basis, net income was $324.3 million, compared to a net loss of $43.9 million in the same period a year earlier. Gross profit more than doubled, rising 106%, and included approximately $115 million in tariff refunds.
The coffee business led the way. U.S. retail coffee revenue reached $807.8 million, a 13% increase year over year, with segment profit surging 124% to $300 million, the company said. Smucker credited higher coffee prices as the primary driver of overall net sales growth, alongside volume gains in Uncrustables sandwiches. The Sweet Baked Snacks segment was a weak spot, with net sales falling 7% to $236.5 million and segment profit declining 13%.
Free cash flow swung to $337.3 million from negative $94.9 million a year earlier, the company said.
#year #coffee #tariff #company
For the quarter ended July 31, Smucker earned an adjusted $3.24 a share, compared with $1.90 in the same period last year. That surpassed the Wall Street consensus estimate of $2.22 a share, according to Barron's. The adjusted earnings figure included an 84-cent-per-share benefit from tariff refunds received during the quarter. Net sales rose 5% to $2.22 billion, the company said.
On a GAAP basis, net income was $324.3 million, compared to a net loss of $43.9 million in the same period a year earlier. Gross profit more than doubled, rising 106%, and included approximately $115 million in tariff refunds.
The coffee business led the way. U.S. retail coffee revenue reached $807.8 million, a 13% increase year over year, with segment profit surging 124% to $300 million, the company said. Smucker credited higher coffee prices as the primary driver of overall net sales growth, alongside volume gains in Uncrustables sandwiches. The Sweet Baked Snacks segment was a weak spot, with net sales falling 7% to $236.5 million and segment profit declining 13%.
Free cash flow swung to $337.3 million from negative $94.9 million a year earlier, the company said.
#year #coffee #tariff #company
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