J.M. Smucker forecasts smaller-than-expected annual sales decline on steady coffee demand

The J. M. Smucker

26/08/2026 13:10

Aug 25 (Reuters) - Folgers coffee maker J.M. Smucker SJM.N on Wednesday forecast a smaller-than-expected decline in annual sales, benefitting from steady demand for its ready-to-eat meals and coffee.
Shares of the company rose about 4% premarket, after J.M. Smucker raised its annual profit forecast on the back of tariff-related refunds.
    
Here are some details:
Budget-conscious consumers, pressured by still-high inflation, are increasingly opting to eat at home rather than dining out, lifting demand for essential goods such as coffee and jams. 
Easing coffee prices, which surged due to higher green coffee costs and tariffs in recent years, pushed J.M. Smucker to lower prices.
The company's quarterly gross profit increased to $504.9 million, which included tariff refunds of $115.0 million. 
The company forecast annual net sales to decrease by 1% to 2%, compared with its prior forecast of a 3% to 4% decline.
It expects full-year adjusted earnings to be between $10.50 and $11 per share, compared with its prior expectation of $9.75 to $10.25. 
The Jif peanut butter maker's net sales for the quarter ended July 31 stood at $2.22 billion, beating analysts' average estimate of $2.13 billion, according to data compiled by LSEG.
Excluding tariff refunds, it earned $3.24 per share on an adjusted basis during the first quarter, surpassing estimates of $2.22.

 (Reporting by Koyena Das in Bengaluru; Editing by Shreya Biswas)
 ((koyena.das@thomsonreuters.com))