Smucker Q1 net sales $2.22 billion; adjusted EPS $3.24 includes $0.84 tariff-refund benefit

The J.M. Smucker Co. (NYSE: SJM) reported net sales of $2.22 billion for the three months ended July 31, 2026, compared with $2.11 billion a year earlier, an increase of $106.0 million, or 5 percent. Adjusted earnings per share was $3.24, which included an $0.84 benefit from tariff refunds received in the quarter. The figures are from the company’s August 26, 2026 earnings release, issued on PR Newswire and furnished the same day as Exhibit 99.1 to a Form 8-K under Item 2.02.

The company updated fiscal 2027 guidance to a net sales decrease of 2.0 percent to 1.0 percent, adjusted EPS of $10.50 to $11.00, and free cash flow of $1.1 billion. That outlook includes the first-quarter refunds. Gross profit included tariff refunds received of approximately $115.0 million. This page does not convert $0.84 into a dollar refund or the approximately $115.0 million into cents per share.

The PR Newswire page and Exhibit 99.1 match on the printed numbers. The 8-K registrant name is THE J. M. SMUCKER COMPANY. The exhibit is furnished, not filed. The headline in the same release calls net sales $2.2 billion; that is the same quarter as the $2.22 billion table line. Net income per diluted share was $3.03, compared with a loss of $0.41 a year earlier. Adjusted earnings per share rose 71 percent from $1.90. Chief Executive Officer, President and Chair of the Board Mark Smucker said the first-quarter results exceeded expectations for both net sales and adjusted earnings per share.

Gross profit was $979.6 million, or 44.1 percent of net sales. The release states: “Gross profit included tariff refunds received of approximately $115.0 million during the quarter.” Net interest expense included $4.0 million of interest income associated with the receipt of tariff refunds. This page does not convert the $0.84 per-share benefit into a dollar refund, and it does not convert the approximately $115.0 million of refunds into cents per share. The release does not say whether the $4.0 million of interest income is inside or outside the $0.84 or the full-year net benefit of approximately $0.60. The primaries do not name a statute for the refunds.

The outlook table prints a net sales decrease of (2.0)% to (1.0)%; the narrative says decrease 1.0 to 2.0 percent. Adjusted EPS is $10.50 to $11.00, and free cash flow is $1.1 billion. “The adjusted earnings per share range now includes a net benefit of approximately $0.60 related to the receipt of tariff refunds, which reflects the $0.84 benefit from tariff refunds received in the first quarter, net of planned investments in SD&A expenses.” The guidance-assumption sentence is: “This guidance reflects the Company's expectations based on its current understanding of these factors and does not assume any impacts from new tariffs, changes to existing tariffs, or changes to the tariff refunds received in the first quarter.” A live question-and-answer webcast was scheduled the same morning; those materials are not used here. The Form 10-Q for the quarter ended July 31, 2026 is not referenced as filed in this 8-K.