JM Smucker (NYSE:SJM) reported mixed results, including a year-over-year drop in sales, for the fiscal fourth quarter, sending its shares more than 13% lower in early trade on Tuesday.
The food brands company, known for Jif peanut butter, Folgers coffee, Hostess snack cakes and Uncrustables, reported Q4 revenue down 3% year-over-year at $2.14 billion, below Street estimates of $2.19 billion.
The decrease was attributed to a negative volume/mix of $74 million, partially offset by net price realization of $62 million.
Certain segments, like US Retail Pet Foods and Sweet Baked Snacks, faced challenges, with sales declining 13% and 26% from the year-ago quarter, respectively.
Adjusted earnings per share (EPS) of $2.31, however, beat estimates of $2.24.
Also weighing on shares was lighter than expected earnings guidance for fiscal 2026, with the company noting that ongoing challenges, including tariffs, inflation, regulatory changes, and shifting consumer behavior have impacted its outlook
JM Smucker projected adjusted EPS in the range of $8.50 and $9.50, below estimates of $10.28. The company expects sales growth of 2% to 4%.
"As we look ahead to fiscal year 2026, we remain focused on delivering the business through the strength of our key growth platforms and advancing our strategic priorities,” JM Smucker CEO Mark Smucker said in a statement.
Shares of JM Smucker traded down 13.8% at about $96 shortly after US markets opened on Tuesday.