The J.m. Smucker Company · NYSE:SJM
The J.m. Smucker — Q1 2027 Earnings Presentation
18 slides from The J.m. Smucker's earnings presentation, Aug 26, 2026
Slide 1: Fiscal 2027 First Quarter Results Supplementary Information
FISCAL 2027 FIRST QUARTER RESULTS SUPPLEMENTARY INFORMATION August 26, 2026
Slide 2: Executive Summary
EXECUTIVE SUMMARY Net sales increased 5%. Net income per diluted share was $3.03. Adjusted earnings per share was $3.24, an increase of 71%, which included an $0.84 benefit from tariff refunds received in the quarter. Free cash flow was $337.3 million, compared to ($94.9) million in the prior year.
Slide 3: Consolidated Results
CONSOLIDATED RESULTS (Dollars in millions, except per share data) FY27 Q1 FY26 Q1 YoY Change Net Sales $2,219.3 $2,113.3 5% Adjusted Gross Profit (A) $950.2 $743.2 28% Adjusted Gross Profit Margin 42.8% 35.2% 760bps Adjusted Operating Income (A) $540.7 $370.3 46% Adjusted Operating Income Margin 24.
Slide 4: Consolidated Results: Net Sales Analysis
CONSOLIDATED RESULTS Net Sales Analysis (Dollars in millions) 5% YoY $20 $87 ($1) $2,113 $2,219 YoY Change 1% 4% (0%) Net Sales Volume/Mix Net Price Foreign Currency Net Sales FY26 Q1 Realization Exchange FY27 Q1 Note: Amounts may not add due to rounding FY27 Q1 RESULTS SUPPLEMENT 4
Slide 5: Balance Sheet & Cash Flow Highlights
Balance Sheet & CASH FLOW HIGHLIGHTS (Dollars in millions) FY27 Q1 FY26 Q1 Cash Provided by (Used for) Operations $425.7 ($10.6) Capital Expenditures (88.4) (84.3) Free Cash Flow $337.3 ($94.9) July 31, 2026 April 30, 2026 Total Debt (Gross) $6,737.8 $6,963.7 Cash and Cash Equivalents (43.2) (58.6)
Slide 6: First Quarter Segment Results
FIRST Quarter SEGMENT RESULTS (Dollars in millions) U.S. Retail U.S. Retail U.S. Retail Sweet Baked Away From Other (A) Coffee FH&S Pet Foods Snacks Home Net Sales Net Sales $807.8 $499.3 $371.7 $236.5 $203.7 $100.3 YoY Change 13% 3% 1% (7%) 3% 9% YoY Net Sales Change Summary: Foreign Currency Excha
Slide 7: Full-Year Fiscal 2027 Outlook
(B) Current Previous Net Sales Decrease vs. Prior Year (2.0%) to (1.0%) (4.0%) to (3.0%) FULL-YEAR Adjusted EPS (A) $10.50 - $11.00 $9.75 - $10.25 FISCAL 2027 Free Cash Flow (in billions) $1.1 $1.0 Capital Expenditures (in millions) $325.0 $325.0 OUTLOOK Adjusted Effective Income Tax Rate 24.2% 24.3
Slide 8: Net Sales Outlook
Net SALES OUTLOOK Fiscal Year 2027 Net Sales Outlook Analysis (Dollars in millions) -1.5% at midpoint 0% (1.5%) $9,051 Net Sales Volume/Mix Net Price Net Sales FY26 Realization FY27 Guidance Note: Amounts may not add due to rounding FY27 Q1 RESULTS SUPPLEMENT 8
Slide 9: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, such as projected net sales, operating results, earnings, and cash flows that are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by thos
Slide 10: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES The Company uses non-GAAP financial measures, including: net sales excluding divestitures and foreign currency exchange; adjusted gross profit; adjusted operating income; adjusted income; adjusted earnings per share; earnings before interest, taxes, depreciation, amortiza
Slide 11: Unaudited Non-GAAP Financial Measures
UNAUDITED NON-GAAP FINANCIAL MEASURES (Dollars in millions) Three Months Ended July 31, Increase 2026 2025 (Decrease) % Net sales reconciliation: Net sales $2,219.3 $2,113.3 $106.0 5% Foreign currency exchange 1.3 - 1.3 - Net sales excluding foreign currency exchange $2,220.6 $2,113.3 $107.3 5% Note
Slide 12: Unaudited Non-GAAP Financial Measures
UNAUDITED NON-GAAP FINANCIAL MEASURES (Dollars in millions) Three Months Ended July 31, 2026 2025 Gross profit reconciliation: Gross profit $979.6 $474.7 Change in net cumulative unallocated derivative gains and losses (29.4) 253.1 Cost of products sold – special project costs - 15.4 Adjusted gross
Slide 13: Unaudited Non-GAAP Financial Measures
UNAUDITED NON-GAAP FINANCIAL MEASURES (Dollars and shares in millions, except per share data) Three Months Ended July 31, 2026 2025 Net income (loss) reconciliation: Net income (loss) $324.3 ($43.9) Income tax expense (benefit) 103.6 (12.6) Amortization 57.9 50.2 Change in net cumulative unallocated
Slide 14: Unaudited Non-GAAP Financial Measures
UNAUDITED NON-GAAP FINANCIAL MEASURES (Dollars in millions) Three Months Ended TTM Ended Year Ended October 31, January 31, April 30, July 31, July 31, April 30, 2025 2026 2026 2026 2026 2026 EBITDA (as adjusted) reconciliation: Net income (loss) $241.3 ($724.2) $388.1 $324.3 $229.5 ($138.7) Income
Slide 15: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Company Guidance Year Ending April 30, 2027 Low High Net income per common share – assuming dilution reconciliation: Net income per common share – assuming dilution $8.70 $9.20 Change in net cumulative unallocated derivative gains and losses (A) 0.15 0.15 Amortization 1.64 1.
Slide 16: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Company Guidance (Dollars in millions) Year Ending April 30, 2027 Free cash flow reconciliation: Net cash provided by operating activities $1,425.0 Additions to property, plant, and equipment (325.0) Free cash flow $1,100.0 FY27 Q1 RESULTS SUPPLEMENT 16
Slide 17: Supplemental Segment Information
SUPPLEMENTAL SEGMENT INFORMATION (Dollars in millions) Three Months Ended July 31, 2026 U.S. Retail Frozen U.S. Retail Handheld and U.S. Retail Sweet Baked Away Coffee Spreads Pet Foods Snacks From Home Other (A) Total Net sales $807.8 $499.3 $371.7 $236.5 $203.7 $100.3 $2,219.3 Segment cost of prod
Slide 18: Additional Information
ADDITIONAL INFORMATION Crystal Beiting Vice President, Investor Relations & FP&A ir.team@jmsmucker.com Phone: (330) 682-3000 Investor Relations Website: https://investors.jmsmucker.com/ FY27 Q1 RESULTS SUPPLEMENT 18
The J.M. Smucker Company — Q1 2027 Earnings Presentation on 6ix