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ORRVILLE, Ohio, USA – The J.M. Smucker Co. yesterday (August 27, 2025) announced results for the first quarter ended July 31, 2025, of its 2026 fiscal year. Financial results for the first 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 first quarter of the prior fiscal year, unless otherwise noted.
Net sales was $2.1 billion, a decrease of $11.8 million, or 1 percent. Net sales excluding the divestitures and foreign currency exchange increased 2 percent.
Net loss per diluted share was $0.41. Adjusted earnings per share was $1.90, a decrease of 22 percent.
Cash used for operating activities was $10.6 million compared to cash provided by operating activities of $172.9 million in the prior year. Free cash flow was ($94.9) million compared to $49.2 million in the prior year.
The Company updated its full-year fiscal 2026 financial outlook.
The increase in comparable net sales reflects a 6 percentage point increase from net price realization, primarily driven by higher net pricing for coffee, partially offset by lower net pricing for peanut butter.
Comparable net sales also reflects a 4 percentage point decrease from volume/mix, primarily driven by decreases for coffee, dog snacks, sweet baked goods, and fruit spreads and lower contract manufacturing sales related to the divested pet food brands, partially offset by an increase for Uncrustables® sandwiches.
U.S. Retail Coffee
Net sales increased $93.8 million, or 15 percent. Net price realization increased net sales by 18 percentage points, primarily driven by higher net pricing across the portfolio.
Volume/mix decreased net sales by 2 percentage points, reflecting decreases for the Dunkin’ and Folgers brands, partially offset by an increase for the Café Bustelo brand.
Segment profit decreased $38.4 million, primarily reflecting higher commodity costs, unfavorable volume/mix, and higher marketing spend, partially offset by higher net price realization.
