What factors drove the changes in The J. M. Smucker's revenue and profit?

What is The J. M. Smucker's latest dividend and current dividend yield?

What is the market's earnings forecast for The J. M. Smucker next quarter?

Did The J. M. Smucker beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for The J. M. Smucker year over year?

What does The J. M. Smucker do and what are its main business segments?

What is The J. M. Smucker's gross profit margin?

What were the key takeaways from The J. M. Smucker’s earnings call?

- **Sweet Baked Snacks Turnaround**: SKU rationalization and core brand focus drive sequential improvement, with $30M annual cost savings from Indianapolis closure.
- **Coffee Tariff Relief**: FY27 off-tariff environment to add $0.50 EPS, offsetting FY26 $75M cost impact.
- **Uncrustables Momentum**: $1B+ brand on track, 7% Q2 growth, innovation-driven Q3-Q4 acceleration.
- **Pet Treats Recovery**: Milk-Bone growth resumes with new products, Meow Mix maintains strength.
- **Balance Sheet Strength**: $975M free cash flow, 3x leverage target by FY27.

**【Sweet Baked Snacks Performance】**
- Organic sales growth driven by SKU rationalization (25% SKU reduction), with core brands (Donuts, Donettes, Cupcakes) leading the recovery.
- Sequential improvement in c-store volume shares and successful relaunch of Suzy Q's.
- Indianapolis facility closure by Q4 FY26, expected to reduce costs by $30M annually.

**【Coffee Tariff Impact】**
- FY26: $75M tariff-related costs absorbed, impacting Q3 EPS by $0.50.
- FY27: Off-tariff environment expected to provide $0.50 EPS tailwind.
- Elasticity improved to 0.3 vs. 0.5 at FY26 start, supporting 16% coffee sales growth (22% pricing, -6% volume/mix).

**【Uncrustables Growth】**
- On track for $1B+ brand by FY26 end, with 7% Q2 growth and 2 new protein innovations.
- 80% U.S. retail sales, 20% Away From Home (e.g., convenience channel expansion).
- Q3-Q4 low double-digit growth expected, lapping strong Q2 FY25 merchandising.

**【Pet Treats Recovery】**
- Milk-Bone to return to growth in Q3, driven by 'More Dog' campaign and peanut buttery bites innovation.
- Meow Mix expected to continue strong performance.

**【Financial Discipline】**
- FY26: $975M free cash flow, $500M debt paydown, targeting 3x leverage by FY27.
- Marketing spend 5.5% of net sales, disciplined SG&A reduction.


The J. M. Smucker Company (SJM) Q2 2026 Earnings Call Transcript

- **Revenue Growth**: 15% YoY for Uncrustables brand, 3-5% full-year net sales growth
- **AI-Driven Innovation**: $100M R&D investment in 2026
- **Sustainability Focus**: 100% renewable energy by 2030
- **Global Expansion**: 10%+ Away-from-Home business growth
- **Profitability Targets**: 35% gross margin and 20% operating income growth

**【Management Opening Remarks】**
- The company reported strong first-quarter results, with revenue growth driven by consumer-led innovation and disciplined cost management.
- Emphasis on accelerating organic growth through AI-driven innovation and strategic investments in key brands.

**【CEO Commentary】**
- **Uncrustables Brand Momentum**: Net sales increased 15% YoY, with limited-edition SKUs and e-commerce growth.
- **Coffee Category Resilience**: Despite inflationary pressures, the company maintained 70%+ market share in at-home consumption.
- **Away-from-Home Growth**: 14% net sales growth and 35% gross profit margin expansion.
- **Capital Allocation Strategy**: $100M R&D investment and $500M debt reduction target by 2027.

**【CFO Financial Highlights】**
- **Net Sales Guidance**: 3-5% growth (GAAP) and 5.5% comparable net sales expansion.
- **Cost Optimization**: $100M free cash flow and $325M capital expenditures.
- **Debt Reduction**: $500M target by 2027 (4.3x leverage ratio).

The J. M. Smucker Company (SJM) Q1 2026 Pre-Recorded Earnings Call Transcript

- **Core Growth Drivers**: Uncrustables ($920M in FY25, +125M YoY) and Café Bustelo ($400M in FY25, +19% YoY) lead organic expansion.
- **Challenges**: Sweet Baked Snacks segment faces 14% Q4 decline, with updated 3% long-term growth target.
- **2026 Outlook**: 3.5% net sales growth (midpoint), $8.50-$9.50 EPS, $875M free cash flow, and 3x leverage target by FY27.
- **Risk Factors**: Coffee cost inflation (+$135M headwind), consumer discretionary spending decline, and tariff impacts (-50bps margin).

**【CEO Business Update】**
- **Full Year Growth**: Fiscal 2025 net sales grew 2%, driven by strong performance in key platforms like Uncrustables (+125M in FY25) and Café Bustelo (+19% YoY). 
- **Innovation Success**: Over $100M in first-year net sales from new products, including Jif peanut butter spread and Uncrustables limited-edition flavors.
- **Segment Performance**:
  - **Uncrustables**: On track for $1B+ in FY26, with 11th straight year of double-digit growth.
  - **Café Bustelo**: Gained share in all coffee segments, with 19% net sales growth.
  - **Pet Foods**: Expanded margins by 500bps through portfolio optimization.
  - **Sweet Baked Snacks**: Underperforming segment with updated 3% long-term growth target, driven by consumer discretionary spending decline.
- **2026 Strategy**: Focus on 3 priorities - accelerating growth in key platforms, embedding cost transformation, and reinventing brand relevance.

**【CFO Financial Review】**
- **Q4 Results**: Adjusted EPS of $2.31 (-13% YoY), impacted by higher coffee costs and Sweet Baked Snacks underperformance.
- **Impairment Charges**: $867M goodwill impairment for Sweet Baked Snacks, reflecting revised 3% growth outlook.
- **2026 Guidance**:
  - Net Sales: 2-4% growth (midpoint +3.5%), driven by price increases in Coffee (+$135M) and Uncrustables (+$10M).
  - Adjusted EPS: $8.50-$9.50, reflecting $0.80 headwind from coffee price elasticity and $0.30 from marketing investments.
  - Free Cash Flow: $875M, targeting $1B+ annually by FY27.
  - Debt Paydown: $500M annually, reducing leverage to <3x by FY27.

**【Key Financial Metrics】**
- FY25 Free Cash Flow: $817M (+$174M YoY)
- Dividend Growth: 23rd consecutive year of dividend increases
- Capital Expenditure: 4.5% of net sales (target 3.5%)


The J. M. Smucker Company (SJM) Q4 2025 Prerecorded Earnings Call Transcript

- **Hostess Impairment**: $1 billion charge reflects FY25 underperformance, but 4% long-term growth target remains.
- **Coffee Strength**: Q3 margin 28%, with FY26 inflation headwind of $0.15 EPS.
- **Pet Food Recovery**: Q3 growth 3.5%, supply chain issues resolved.
- **FY26 Outlook**: Potential above-algorithm EPS if coffee costs moderate.

**【Q&A Key Highlights】**

**1. Comparable Sales and Hostess Impairment**
- Q3 comparable sales declined 1.3%, with a need for 1.2% Q4 growth to meet revised FY25 sales target of $7.25 billion.
- Hostess brand underperformance led to a $1 billion impairment charge ($800M goodwill, $200M asset), reflecting $60M FY25 guidance reduction.
- Management remains confident in 4% long-term growth for Sweet Baked Snacks, focusing on stabilization through 5 strategic pillars and leadership changes.

**2. Coffee Business Performance**
- Q3 coffee segment profit margin reached 28%, exceeding expectations due to favorable price elasticity and cost management.
- FY26 green coffee inflation (~$0.30/lb) expected to create a $0.15 EPS headwind, with potential pricing actions in H1 FY26.
- Coffee remains affordable vs. alternatives, with strong at-home consumption trends.

**3. Fiscal 2026 Outlook**
- FY26 adjusted EPS could be "above algorithm" if green coffee inflation moderates, but FY26 planning is early-stage.
- Stranded overhead reductions in pet food and $100M synergy target (FY26: $30M incremental) support margin expansion.

**4. Pet Food Segment**
- Q3 U.S. retail pet food growth of 3.5% (excl. contract manufacturing), with supply chain disruptions resolved.
- Frozen handhelds and spreads investments (~$0.35 FY25 headwind) expected to stabilize in FY26.

**5. M&A and Hostess Strategy**
- Hostess acquisition process reviewed; $200M impairment reflects FY25 underperformance, but long-term confidence in brand.
- Proven commercial playbook and leadership changes aim to accelerate recovery in sweet snacking category.


The J. M. Smucker Company (SJM)-27 Feb 25-2025 Q3 Earnings call transcript

The J. M. Smucker Company (SJM)-26 Nov 24-2025 Q2 Earnings call transcript

The J. M. Smucker Company (SJM)-28 Aug 24-2025 Q1 Earnings call transcript

J.M. Smucker (SJM)-6 Jun 24-2024 Q4 Earnings call transcript

J.M. Smucker (SJM)-27 Feb 24-2024 Q3 Earnings call transcript

J.M. Smucker (SJM)-5 Dec 23-2024 Q2 Earnings call transcript

J.M. Smucker (SJM)-6 Jun 23-2023 Q4 Earnings call transcript

J.M. Smucker (SJM)-28 Feb 23-2023 Q3 Earnings call transcript

J.M. Smucker (SJM)-21 Nov 22-2023 Q2 Earnings call transcript

J.M. Smucker (SJM)-23 Aug 22-2023 Q1 Earnings call transcript

J.M. Smucker (SJM)-7 Jun 22-2022 Q4 Earnings call transcript

J.M. Smucker (SJM)-1 Mar 22-2022 Q3 Earnings call transcript

J.M. Smucker (SJM)-23 Nov 21-2022 Q2 Earnings call transcript

J.M. Smucker (SJM)-25 Aug 20-2021 Q1 Earnings call transcript

J.M. Smucker (SJM)-3 Jun 21-2021 Q4 Earnings call transcript

J.M. Smucker (SJM)-25 Feb 21-2021 Q3 Earnings call transcript

J.M. Smucker (SJM)-24 Nov 20-2021 Q2 Earnings call transcript

J.M. Smucker (SJM)-4 Jun 20-2020 Q4 Earnings call transcript

J.M. Smucker (SJM)-26 Feb 20-2020 Q3 Earnings call transcript

J.M. Smucker (SJM)-22 Nov 19-2020 Q2 Earnings call transcript

J.M. Smucker (SJM)-27 Aug 19-2020 Q1 Earnings call transcript

J.M. Smucker (SJM)-6 Jun 19-2019 Q4 Earnings call transcript

J.M. Smucker (SJM)-26 Feb 19-2019 Q3 Earnings call transcript

J.M. Smucker (SJM)-28 Nov 18-2019 Q2 Earnings call transcript

J.M. Smucker (SJM)-21 Aug 18-2019 Q1 Earnings call transcript

J.M. Smucker (SJM)-7 Jun 18-2018 Q4 Earnings call transcript

J.M. Smucker (SJM)-16 Feb 18-2018 Q3 Earnings call transcript

SJM

SJM fundamentals

Earnings Call

You can ask Aime