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J.M. Smucker narrowed its full-year guidance while higher prices for coffee drove revenue and profit growth in its second quarter. Joe Raedle/Getty ImagesFolgers owner J.M. Smucker SJM -3.01%decrease; red down pointing triangle is no longer considering raising coffee prices during the current quarter after the Trump administration’s removal of raw-coffee tariffs.
The Orrville, Ohio, company has absorbed the bulk of its inflationary pressure in unprocessed coffee through a series of price hikes over the last year, Chief Executive Mark Smucker said in prepared remarks Tuesday. But he said another price increase isn’t in the cards this winter, as the U.S. has excluded raw coffee from tariffs. Smucker also expects prices to normalize over time from its current inflationary phase.
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