Investing.com -- J.M. Smucker shares rose more than 3% in premarket trading Wednesday after the packaged foods maker reported first-quarter earnings well ahead of expectations and raised its full-year profit guidance above consensus.

The company reported first-quarter earnings per share of $3.24, beating the analyst estimate of $2.21. Revenue rose 5% year-over-year to $2.2 billion, also ahead of the $2.12 billion consensus estimate.

The increase in net sales reflected a 4-percentage-point boost from net price realization, driven primarily by higher coffee pricing, along with a 1-percentage-point contribution from volume and mix, led by growth in Uncrustables sandwiches and coffee, partly offset by declines in sweet baked goods and peanut butter.

"Our first quarter results exceeded our expectations for both net sales and adjusted earnings per share, demonstrating continued momentum across the Company," said CEO Mark Smucker. "Our performance reflects the strength of our differentiated portfolio, disciplined execution against our strategic priorities, and the investments we continue to make in our brands and capabilities."

For fiscal 2027, J.M. Smucker raised its earnings per share guidance to $10.50 to $11.00, up from a prior range of $9.75 to $10.25 and above the $10.05 consensus estimate. The company now expects net sales to decline 1.0% to 2.0% compared with the prior year, an improvement from its previous guidance of a 3.0% to 4.0% decline.