Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
In the first quarter of fiscal 2027, SJM swung from a year-ago loss to strong profitability, with management citing lower costs, tariff refunds, and higher net pricing as primary drivers. The U.S. Retail Coffee segment led the recovery, while Sweet Baked Snacks volume/mix declined. The quarter included approximately $115M of tariff refunds recognized in cost of products sold, and adjusted gross profit increased 28%, signaling underlying margin expansion. Selling, distribution, and administrative expenses rose, partially offsetting the profit gains.
Cost of Revenue
$1.24B
-24.34% YoY
EPS (Diluted)
$3.03
+839.02% YoY
Operating Income
$511.6M
+1021.93% YoY
Source: SEC XBRL
J M Smucker (SJM) reported Q1 FY2027 revenue of $1.24B, down 24.3% year over year. Operating cash flow was $425.7M. SJM's fiscal Q1 FY2027 corresponds to calendar Q3 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Sep 2026 | 3.24 | 2.24 | Beat +44.7% |
| Jun 2026 | 2.77 | 2.66 | Beat +4.0% |
| Mar 2026 | 2.38 | 2.30 | Beat +3.6% |
| Dec 2025 | 2.10 | 2.12 | Miss -1.1% |
6 reported segments · SEC XBRL
Segment revenue totals $2.22B, which is the $2.22B of consolidated revenue on the income statement.
Compiled by AI from 10-Q Item 2 of this filing
SJM received approximately $115.0M in tariff refunds under IEEPA on certain imported goods during Q1 FY2027, recognized in cost of products sold, with $4.0M of related interest income in interest expense, net. These refunds materially aided gross profit and operating income in the quarter.
Source: 10-Q Item 2 MD&A
Net price realization contributed 4 percentage points to consolidated net sales, primarily due to higher coffee pricing, while volume/mix added 1 percentage point, driven by Uncrustables sandwiches and coffee, partially offset by sweet baked goods and peanut butter.
Source: 10-Q Item 2 MD&A
Adjusted gross profit rose 28% to $950.2M and adjusted operating income rose 46% to $540.7M, excluding the change in net cumulative unallocated derivative gains and losses and special project costs. This indicates margin expansion beyond the one-time derivative and tariff benefits.
Source: 10-Q Item 2 MD&A
U.S. Retail Coffee segment profit increased 124% to $300.0M on tariff refunds and higher net pricing, while Sweet Baked Snacks segment profit decreased 13% to $29.9M on higher costs and unfavorable volume/mix. Away From Home and Other also posted profit growth.
Source: 10-Q Item 2 MD&A
Net cash provided by operating activities increased $436.3M to $425.7M, driven by higher net income adjusted for noncash items and lower working capital requirements, including lower cash used for inventories. Free cash flow was $337.3M compared with a $94.9M outflow a year ago.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 0 high, 5 medium, 0 low
Total liabilities of $10.45B against stockholders' equity of $5.75B result in a debt-to-equity ratio of 1.82, indicating significant reliance on debt financing. While total debt has declined, high leverage could limit financial flexibility or increase refinancing risk if conditions tighten.
Source: 10-Q Balance Sheet (XBRL)
Current assets of $1.99B are below current liabilities of $2.29B, yielding a current ratio of 0.87. This shortfall means SJM relies on operating cash flow and available credit facilities to meet near-term obligations.
Source: 10-Q Balance Sheet (XBRL)
U.S. Retail Coffee accounted for 36.4% of total segment net sales and drove a large portion of segment profit growth in Q1 FY2027. Dependence on this segment exposes SJM to volatility in coffee costs, pricing, and tariff policy.
Source: 10-Q Item 2 MD&A
Sweet Baked Snacks net sales decreased 6.6% and segment profit fell 13%, with volume/mix down 8 percentage points due to declines in snack cakes and breakfast. Continued weakness could offset gains elsewhere.
Source: 10-Q Item 2 MD&A
Approximately $115.0M of tariff refunds were recognized in cost of products sold during Q1 FY2027. These refunds are nonrecurring, and future tariff or trade policy actions could raise input costs and pressure margins in subsequent quarters.
Source: 10-Q Item 2 MD&A
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Cost of Revenue $B | 1.24 $B | 1.64 $B | -24.34% |
Gross Profit $M | 979.60 $M | 474.70 $M | +106.36% |
Operating Income $M | 511.60 $M | 45.60 $M | +1021.93% |
Net Income $M | 324.30 $M | -43.90 $M | +838.72% |
EPS (Basic) $ | 3.04 $ | -0.41 $ | +841.46% |
EPS (Diluted) $ | 3.03 $ | -0.41 $ | +839.02% |
SG&A Expense $M | 410.50 $M | 377.40 $M | +8.77% |
Answers draw on this SEC filing and the data on this page
SJM reported a challenging Q3 FY2026 with gross profit falling 15.2% YoY to $2.17B as cost of revenue surged 14.7%, resulting in a net loss of $526.8M and negative operating income, though operating cash flow improved 9.5% to $894.4M.
SJM (The J.M. Smucker Company) returned to operating profitability in FY2026 with operating income of $360.2M (vs. a loss of $673.9M prior year), but still posted a net loss of $138.7M amid rising cost of revenue (+12.6%) and a compressed gross margin, while generating strong operating cash flow of $1.47B.
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