Short answer
J.M. Smucker Company (The) (SJM) filed its fiscal 2025 10-K annual report with the SEC on Jun 18, 2025. It reported revenue of $8.7B (+6.7% year over year) and net income of −$1.2B.
- Top risk flagged: Regulatory risk: Inflation Reduction Act impact causing potential higher costs and tariffs affecting pricing strategies and profit margins in 2025-2026
FY2025 key financial metrics · XBRL
- Revenue
- $8.7B
- +6.7% YoY
- Net income
- −$1.2B
- −265.4% YoY
- Operating margin
- -7.7%
- −23.7 pp YoY
- Gross margin
- 38.8%
- +0.7 pp YoY
- EPS (diluted)
- −$11.57
- −262.3% YoY
- ROE
- -20.2%
- −29.9 pp YoY
- Operating cash flow
- $1.2B
- −1.5% YoY
Source: XBRL data from the J.M. Smucker Company (The) (SJM) FY2025 10-K on SEC EDGAR. USD.
J.M. Smucker Company (The) FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Food and beverage products focused on consumer packaged goods
- New strategic emphasis: Completion of merger agreement with Hostess Brands, Inc. dated September 10, 2023
- Governance update: Code of Conduct revised June 2025, updated committee charters and corporate governance guidelines
- Notable financial transaction: Fifth Supplemental Indenture dated October 25, 2023 involving U.S. Bank Trust Company as trustee
- Key action: Several amendments to executive compensation and retirement plans during fiscal 2025
Management Discussion & Analysis
- Revenue $8,726.1M, up 7% YoY ($547.4M increase); excluding acquisitions/divestitures/fx, flat at $8,067.5M vs $8,044.7M
- Operating loss $(673.9)M (−7.7% margin) vs operating income $1,305.8M (16.0% margin) in prior year due to $1.98B impairment and divestiture losses
- Best segment: Sweet Baked Snacks revenue $1,178.8M (85% increase), profit $219.8M (+59%); worst U.S. Retail Pet Foods revenue down 9% to $1,663.6M
- Operating cash flow $1,210.4M; capex $393.8M; dividends paid $455.4M; long-term debt repaid $1,300M, new debt $650M; cash increased to $69.9M
- Guidance: 2026 effective tax rate ~23.8%; risks include commodity price volatility, ongoing class action suits, and integration/ restructuring costs up to $75M
Risk Factors
- Regulatory risk: Inflation Reduction Act impact causing potential higher costs and tariffs affecting pricing strategies and profit margins in 2025-2026
- Geopolitical threat: No direct operations in Russia, Ukraine, Israel, Palestine, China, Taiwan but ongoing monitoring of escalations disrupting global supply chains
- Operational risk: Supply chain disruptions from shipping delays, labor shortages, tariffs risking volume loss and elevated penalties due to order fulfillment delays
- Competitive risk: Hostess Brands acquisition for $5.4B including $3.9B cash, $991M debt assumed; integration critical for achieving $100M cost synergies by end 2026
- Financial risk: $5.0B new debt raised ($3.5B Senior Notes, $800M term loan, $700M commercial paper) increasing leverage post-Hostess acquisition in 2025
Generated from the filing text; verify against the original. How to read a 10-K
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