J.M. Smucker Q1 net income swings to $324.3M on $324.3M tariff refund and pricing gains

Filed August 26, 2026 · Period ending July 31, 2026 · Compared to 10-Q Aug 27, 2025 · ~1 min read

Key Changes

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  Net income swung from a $43.9M loss to $324.3M income ($3.03 diluted EPS vs. -$0.41 prior year) as operating income surged 1022% to $511.6M, driven by $115M in tariff refunds, derivative gains, and higher pricing.

  MD&A: Operating Results verify on EDGAR →
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  Company received ~$115M in tariff refunds (recognized in COGS) plus $4M interest income during Q1 FY2027 from claims initiated in April 2026 under IEEPA; substantially all requested refunds received as of July 31, 2026.

  Legal Proceedings / Notes: Tariff Refunds verify on EDGAR →
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  Revenue rose 5.0% to $2.22B on net price realization (4 percentage points, primarily coffee) and volume/mix gains (1 percentage point, led by Uncrustables and coffee).

  MD&A: Net Sales verify on EDGAR →