J.M. Smucker (SJM) FY2026 results: revenue $9.1 billion, up 3.7% on the year

The J. M. Smucker Company, often referred to as Smucker's, was established in 1897 and incorporated in Ohio in 1921. It operates principally in one industry, the manufacturing and marketing of branded food and beverage products on a worldwide basis, although the majority of its sales are in the United States. Operations outside the U.S. are principally in Canada, with products exported to other countries as well, and sales outside the U.S. were 4 percent of consolidated net sales in 2026. Its principal products in 2026 were coffee, frozen handheld products, sweet baked goods, pet snacks, peanut butter, cat food, fruit spreads, portion control products, toppings and syrups, and baking mixes and ingredients.

Five segments

U.S. Retail Coffee carries the domestic sales of Folgers, Dunkin' and Café Bustelo branded coffee. U.S. Retail Frozen Handheld and Spreads carries Uncrustables, Jif and Smucker's branded products. U.S. Retail Pet Foods carries Meow Mix, Milk-Bone, Pup-Peroni and Canine Carry Outs. Sweet Baked Snacks carries all domestic and foreign sales of Hostess branded products. Away From Home carries every other product, at home and in foreign countries, through foodservice distributors and operators such as healthcare operators, restaurants, educational institutions, offices and convenience stores; it met the reportable segment criteria in the fourth quarter of 2026. The International operating segment does not meet those criteria and is presented within Other.

Who it competes with

In coffee, Folgers, Dunkin' and Café Bustelo meet private label brands, Maxwell House and Gevalia from The Kraft Heinz Company, McCafé, Green Mountain Coffee and Peet's Coffee & Tea from Keurig Dr. Pepper, and Starbucks and Nespresso from Nestlé. In spreads, Jif meets Skippy from Hormel Foods Corporation, Nutella from Ferrero and Peter Pan from Post Holdings, while Smucker's fruit spreads meet Welch's and Bonne Maman. Uncrustables meets Hot Pockets from Nestlé, Totino's from General Mills and El Monterrey from Ruiz Foods. In pet food, Meow Mix meets Cat Chow, Friskies, Kit & Kaboodle and Fancy Feast from Nestlé Purina PetCare Company and Iams and Sheba from Mars, and the pet snack brands meet Beggin' Strips, Blue Buffalo and Nudges.

How it reaches the buyer

Products in the U.S. Retail segments are sold primarily through a combination of direct sales and brokers to food retailers, club stores, discount and dollar stores, online retailers, pet specialty stores, drug stores, military commissaries, mass merchandisers and distributors. Sweet Baked Snacks is distributed across all channels at home and abroad, including convenience stores, the vending channel, club stores, drug stores and mass merchandisers. Sales to Walmart Inc. and subsidiaries, including Sam's Club, were 34 percent of net sales in 2026 and 33 percent in both 2025 and 2024, and no other customer exceeded 10 percent in any of those years. The top 10 customers together were approximately 60 percent of consolidated net sales in 2026. The U.S. Retail and Away From Home segments see little seasonality, while Sweet Baked Snacks is moderately seasonal, declining in the early winter period because of the holiday season.

Deals since 2023

Hostess Brands, Inc. was acquired on 7 November 2023 in a cash and stock transaction, bringing the Hostess Donettes, Twinkies, CupCakes, DingDongs, Zingers, CoffeeCakes, HoHos, Mini Muffins and Fruit Pies lines together with the Voortman cookie brand. Four disposals sit either side of it. The Sahale Snacks business went to Second Nature Brands on 1 November 2023; the Canada condiment business, carrying the Bick's, Habitant, Woodman's and McLarens brands, went to TreeHouse Foods on 2 January 2024; the Voortman business, with a leased manufacturing facility in Burlington, Ontario, went to Second Nature on 2 December 2024; and certain Sweet Baked Snacks value brands, with a manufacturing facility in Chicago, Illinois, went to JTM Foods on 3 March 2025.

Raw materials and licences

Raw materials are primarily commodities, agricultural-based products and packaging materials, with green coffee, peanuts, flour, sugar, oils, fats, fruit and other ingredients obtained from various suppliers. Green coffee is sourced solely from foreign countries and its supply and price are highly volatile on weather, global supply and demand, product scarcity, plant disease, geopolitical conflicts, conditions in the source countries and tariffs. Certain plastic packaging for Folgers coffee and Jif peanut butter, plus finished goods such as K-Cup pods, Pup-Peroni dog snacks and liquid coffee, comes from primary or single sources under long-term contracts. Dunkin' is a trademark of DD IP Holder LLC used under three licences for packaged coffee sold in retail and certain away from home channels, in effect until 1 January 2039 and carrying royalties; the licences do not cover coffee or other products sold in Dunkin' restaurants.

From Smucker's annual report on Form 10-K for the year ended 30 April 2026. The filing

Written from the 10-K filed 9 June 2026: read the full 10-K.