Business
The J.M. Smucker Co. Announces Fiscal 2026 Third Quarter Results
The J.M. Smucker Co. (NYSE: SJM) today announced results for the third quarter ended January 31, 2026, of its 2026 fiscal year. Financial results for the third quarter of fiscal year 2026 reflect the divestiture of certain Sweet Baked Snacks value brands on March 3, 2025, and the divestiture of the Voortman® business on December 2, 2024. All comparisons are to the third quarter of the prior fiscal year, unless otherwise noted.
About this update from The J.m. Smucker Company
[{"type":"text","content":"ORRVILLE, Ohio, Feb. 26, 2026 /PRNewswire/ -- The J.M. Smucker Co. (NYSE: SJM) today announced results for the third quarter ended January 31, 2026, of its 2026 fiscal year. Financial results for the third quarter of fiscal year 2026 reflect the divestiture of certain Sweet Baked Snacks value brands on March 3, 2025, and the divestiture of the Voortman® business on December 2, 2024. All comparisons are to the third quarter of the prior fiscal year, unless otherwise noted.","length":486,"tagName":"p"},{"type":"text","content":"EXECUTIVE SUMMARY","length":17,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net sales was $2.3 billion, an increase of $153.4 million, or 7 percent. Net sales excluding the divestitures and foreign currency exchange increased 8 percent.","length":160,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss per diluted share was $6.79, reflecting noncash impairment charges attributable to the Sweet Baked Snacks reporting unit. Adjusted earnings per share was $2.38, a decrease of 9 percent.","length":194,"tagName":"p"}]},{"val":[{"type":"text","content":"Cash provided by operations was $558.5 million compared to $239.4 million in the prior year. Free cash flow was $487.0 million compared to $151.3 million in the prior year.","length":172,"tagName":"p"}]},{"val":[{"type":"text","content":"The Company updated its full-year fiscal 2026 financial outlook.","length":64,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":590,"olType":false},{"type":"text","content":"CHIEF EXECUTIVE OFFICER REMARKS","length":31,"tagName":"p"},{"type":"text","content":""Our business continues to deliver strong results in a dynamic external environment. In the third quarter, net sales and adjusted earnings per share exceeded our expectations, reflecting the strength of our portfolio of leading brands, along with our disciplined cost management," said Mark Smucker, Chief Executive Officer, President and Chair of the Board.","length":368,"tagName":"p"},{"type":"text","content":""We continue to advance our focused strategy centered around engaging and delighting consumers by participating in attractive categories, building brands consumers love, and being everywhere the consumer shops. Looking ahead, we remain confident in our fiscal 2026 outlook and are focused on driving...