JM Smucker Co

SJM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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J.M. Smucker Earnings: Tariff Refund Adds to Strong First Quarter; Shares Fairly Valued

Kristoffer Inton

Aug 26, 2026

J.M. Smucker's sales grew 5% in its fiscal first quarter. Adjusted gross margins expanded 760 basis points to 42.8%, though 520 basis points came from tariff refunds. Coffee sales and segment profit (36% of sales) benefited from last year's price increases, easing input costs, and the refunds.

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JM Smucker Co

J.M. Smucker Earnings: Tariff Refund Adds to Strong First Quarter; Shares Fairly Valued

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