The J.M. Smucker Company has reported fourth-quarter and full-year financial results for fiscal year 2026, highlighting continued momentum across its portfolio, including its petfood business.
The company recorded fourth-quarter net sales of US$2.3 billion, representing a six percent increase compared to the same period last year. Adjusted earnings per share rose 20 percent to US$2.77, while cash provided by operations reached US$579.2 million.
Within the U.S. Retail Petfoods segment, fourth-quarter net sales reached US$401.7 million, up two percent year-on-year. Segment profit increased 18 percent to US$125.7 million, while segment profit margin rose 450 basis points to 31.3 percent.
The company said higher net pricing for cat food and dog snacks contributed to improved sales performance, while lower marketing spend and stronger net price realisation supported profitability growth. Volume and mix declined slightly due to lower dog snack sales and the comparison with contract manufacturing sales linked to divested pet food brands in the prior year, partially offset by growth in cat food.
For the full fiscal year ending April 30, 2026, net sales increased four percent to US$9.1 billion. Excluding divestitures and foreign currency exchange, annual net sales rose five percent. The company also reported free cash flow of US$1.2 billion for the year, compared to US$816.6 million in the previous fiscal year.
Looking ahead to fiscal year 2027, the company expects net sales to decrease between three and four percent, while adjusted earnings per share are forecast to range between US$9.75 and US$10.25. Free cash flow is projected at approximately US$1.0 billion.
Mark Smucker said the company’s fourth-quarter performance reflected the strength of its focused strategy and portfolio enhancement initiatives, adding that the business is entering fiscal year 2027 with “meaningful momentum”.