J.M. Smucker Beats Quarterly Estimates, Raises 2026 Sales Outlook Despite Plant Fire Impact

Core Insights - J.M. Smucker shares rose over 7% intra-day following third-quarter results that surpassed expectations, driven by increased net pricing in coffee and Uncrustables sandwiches [1] - The company reported third-quarter sales of $2.34 billion, reflecting a 7% year-over-year increase and exceeding analyst estimates of $2.32 billion. Adjusted earnings per share were $2.38, above forecasts of $2.27 [1] Future Outlook - J.M. Smucker projected fiscal 2026 net sales growth of 3.5% to 4.0%, slightly narrowing its previous outlook of 3.5% to 4.5% due to the impact of a fire at its Emporia, Kansas manufacturing facility in February. The company maintained its annual adjusted earnings per share guidance of $8.75 to $9.25 [2] Management Changes - J.M. Smucker appointed two executives with financial and food industry expertise as part of a cooperation agreement with activist investor Elliott Investment Management, following a settlement reached with Elliott [3]