J.M. Smucker jumps on third-quarter beat, deal with Elliott

The J. M. Smucker

26/02/2026 14:59

Updates

** Shares of J.M. Smucker SJM.N rise as much as 11.6% to a more than 10-month high of $119.01

** Reports better-than-expected quarterly results, boosted by higher net pricing for coffee and Uncrustables sandwiches

** Appoints two executives with financial and food industry experience in agreement with activist investor Elliott Investment Management

** Q3 sales rise 7% to $2.34 billion vs estimates of $2.32 billion; adjusted EPS of $2.38 beat estimates of $2.27 - data compiled by LSEG

** Expects fiscal 2026 net sales to rise between 3.5% and 4.0%, compared with previous growth forecast of 3.5% to 4.5%, due to estimated impact of fire at its Emporia, Kansas manufacturing facility in February

** Maintains annual adjusted EPS forecast of $8.75 to $9.25

** SJM fell 11.2% in 2025

 (Reporting by Neil J Kanatt in Bengaluru)

 ((Neil.JKanatt@thomsonreuters.com;))