Why did SJM's Q3 2025 earnings fall short of forecasts?

The J. M. Smucker Company (SJM) experienced a shortfall in its Q3 2025 earnings relative to forecasts due to a combination of factors:

1. **Revenue Shortfall**: SJM's revenue fell short of expectations by approximately $40 million. This decline was primarily attributed to decreased sales in the U.S. Retail Coffee and Pet Foods divisions.
2. **Demand Slowing**: The company's decision to cut annual sales and profit forecasts was influenced by consumers becoming more cost-conscious and shifting towards lower-priced alternatives. This trend was exacerbated by the ongoing impact of inflation, which has compelled consumers to tighten their spending belts. Despite raising prices for certain products, Smucker was unable to fully offset the effects of inflation and changing consumer behavior.

In summary, SJM's Q3 2025 earnings fell short due to a combination of revenue shortfall and demand slowing.