Short answer
J.M. Smucker Company (The) (SJM) filed its Q1 2026 10-Q quarterly report on Feb 26, 2026 for the quarter ended Jan 31, 2026. Quarterly revenue was $2.3B (up 7.0% year over year) with net income of −$724M.
Q1 2026 key financials · XBRL
- Revenue
- $2.3B
- +7.0% YoY · +0.4% QoQ
- Net income
- −$724M
- −9.3% YoY · −400.1% QoQ
- Operating margin
- -23.4%
- Gross margin
- 35.4%
- EPS (diluted)
- −$6.79
- −9.0% YoY · −400.4% QoQ
Source: XBRL data from the J.M. Smucker Company (The) (SJM) Q1 2026 10-Q on SEC EDGAR. USD.
J.M. Smucker Company (The) Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 FY2026 net sales $2,339.4M, up 7% YoY ($153.4M); excluding divestitures and FX, up 8% driven by +10pp coffee price realization
- Gross margin 35.4% vs 40.2% YoY; adjusted operating margin 18.4% vs 21.2% YoY; both pressured by higher commodity costs and tariffs
- Worst segment: Sweet Baked Snacks profit -78% YoY to $12.2M, margin 5.4% vs 19.7%; $961.7M impairment charges on Hostess goodwill and trademark; Best segment: Pet Foods margin 29.2% vs 27.6% YoY
- Operating cash flow $894.4M vs $816.5M YoY; free cash flow $672.3M vs $517.7M; cash fell to $52.8M from $69.9M; total debt reduced to $7,328.2M from $7,677.6M
- Post-quarter fire at Emporia, KS facility expected to reduce Q4 net sales; management flagging persistent tariff, input cost, and consumer spending headwinds through remainder of FY2026
Risk Factors
- Goodwill/intangible impairment $961.7M recorded Q3 2026: $507.5M Sweet Baked Snacks goodwill (fully written off) + $454.2M Hostess trademark
- Hostess brand reclassified from indefinite- to finite-lived intangible, triggering annual amortization expense of $38.8M going forward
- Sweet Baked Snacks segment driven by consumer discretionary spending pressure, category shift, and slower-than-expected recovery: long-term growth and royalty rates reduced
- Goodwill and intangible assets total $10.9B vs. total shareholders' equity of only $5.2B, representing concentrated balance sheet risk in U.S. Retail Coffee and Pet Foods segments (~80% of remaining balances)
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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