The earnings call reflects a mixed sentiment. While there are positive developments in the coffee segment, free cash flow, and specific brands like Uncrustables and Milk Bone, challenges such as increased tariffs, soft first-quarter earnings, and volume declines in sweet baked snacks balance out the positives.

Company Guidance

During the J. M. Smucker Company's Fiscal 2026 First Quarter Earnings Call, several key metrics and guidance updates were discussed. The company has updated its outlook for the coffee segment, now expecting pricing benefits in the mid-20% range due to additional pricing actions responding to increased tariff rates on green coffee. Volume is anticipated to be impacted in the low to mid-teens, leading to overall segment growth in the low to mid-teens year-over-year. Despite these headwinds, the full-year guidance remains at a $9 midpoint, with expected favorability from better-than-anticipated price elasticity partially offset by increased tariffs. Additionally, the fiscal year free cash flow outlook has increased from $875 million to $975 million due to benefits from the new "One Big Beautiful Bill" act, which is expected to support ongoing debt reduction efforts. The company also highlighted sequential improvement in the Sweet Baked Snacks segment's profitability as SKU rationalization and cost-saving measures are implemented, with expected savings of $30 million impacting the current and next fiscal years.

Positive Performance in Coffee Segment

The coffee segment is expected to see pricing in the mid-20% range, with overall growth in the low to mid-teens year-over-year. The company experienced a $50 million over-delivery in coffee expectations in Q1 due to better-than-expected price elasticity.

Strong Free Cash Flow Outlook

The free cash flow outlook was increased from $875 million to $975 million for the fiscal year, driven by benefits from the Beautiful Bill Act, which will be an ongoing benefit in future fiscal years.

Positive Trends in Uncrustables and Pet Segment

The Uncrustables brand continues to show momentum, and the pet segment, particularly cat food, also shows ongoing momentum.

Milk Bone Brand Support and Growth

Milk Bone is expected to return to growth in the second half of the fiscal year, supported by advertising, innovation, and tactical pricing strategies.

JM Smucker (SJM) Earnings, Revenues Date & History

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SJM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 02, 2025	2026 (Q2)	2.10 / -	2.76	―	―	―
Aug 27, 2025	2026 (Q1)	1.93 / 1.90	2.44	-22.13% (-0.54)
Jun 10, 2025	2025 (Q4)	2.24 / 2.31	2.66	-13.16% (-0.35)	―
Feb 27, 2025	2025 (Q3)	2.37 / 2.61	2.48	5.24% (+0.13)
Nov 26, 2024	2025 (Q2)	2.51 / 2.76	2.59	6.56% (+0.17)
Aug 28, 2024	2025 (Q1)	2.17 / 2.44	2.21	10.41% (+0.23)
Jun 06, 2024	2024 (Q4)	2.35 / 2.66	2.64	0.76% (+0.02)
Feb 27, 2024	2024 (Q3)	2.27 / 2.48	2.21	12.22% (+0.27)
Dec 05, 2023	2024 (Q2)	2.47 / 2.59	2.4	7.92% (+0.19)
Aug 29, 2023	2024 (Q1)	2.02 / 2.21	1.67	32.34% (+0.54)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SJM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 27, 2025	$110.58	$105.67	-4.44%
Jun 10, 2025	$110.74	$93.48	-15.59%
Feb 27, 2025	$107.05	$107.03	-0.02%
Nov 26, 2024	$110.28	$116.56	+5.69%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.