Smucker Plans to Lower Coffee Prices Next Year as Costs Drop (2)

JM Smucker Co. said it planned to lower coffee prices next year as the cost comes down.

The packaged food company set its 2027 full-year profit outlook above expectations Tuesday, forecasting adjusted earnings in a range between $9.75 and $10.25. Smucker said it expected net sales to decline next year between 3% and 4% when it reduces prices, as the company passes through lower costs on green coffee to consumers.

Smucker executives said their forecast for next year was designed to be “prudent,” given the turmoil in the Middle East and the cautiousness in consumer spending. The company said the ...