J.M. Smucker Co. (NYSE:SJM) posted fiscal second-quarter results on Tuesday that were broadly in line with analyst forecasts, as the packaged-foods company managed through higher input costs and ongoing tariff pressures. The stock inched up 0.35% in pre-market trading following the release.
For the quarter ended October 31, the company reported adjusted earnings of $2.10 per share, matching Wall Street expectations. Revenue rose 3% to $2.3 billion, slightly shy of the $2.32 billion consensus estimate.
Comparable net sales—excluding divestitures and currency fluctuations—climbed 5% from a year earlier. That increase was driven by an 11-percentage-point lift from pricing, particularly in the coffee category, partially offset by a 6-percentage-point drop in volume/mix across several business lines.
“We are pleased with our second quarter results and the positive momentum that we are experiencing in our business,” said Mark Smucker, Chief Executive Officer and Chair of the Board. “Our top-line growth was driven by ongoing demand for our portfolio of leading brands, and our bottom-line results reflect disciplined cost management and business execution.”
The U.S. Retail Coffee division was a standout, with sales jumping 21% to $848.9 million. Still, segment profit slid 24% due to rising commodity prices and tariff-related costs. The Sweet Baked Snacks division saw sales drop 19% following recent business divestitures.
The company refined its full-year fiscal 2026 outlook, now projecting net sales growth of 3.5% to 4.5% and adjusted EPS between $8.75 and $9.25, compared to the current analyst estimate of $9.11.
Free cash flow came in at $280.2 million, down from $317.2 million a year earlier, reflecting higher working capital needs.