SJM

EX-99.1

2 sjm06092026exhibit991.htm

EX-99.1

Document

Exhibit 99.1

The J.M. Smucker Co. Announces Fiscal Year 2026 Fourth Quarter Results and Provides Full-Year Fiscal 2027 Outlook

ORRVILLE, Ohio, June 9, 2026 /PRNewswire/ -- The J.M. Smucker Co. (NYSE: SJM) today announced results for the fourth quarter of its fiscal year ending April 30, 2026. Financial results for the fourth quarter and fiscal year 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 fourth quarter of the prior fiscal year, unless otherwise noted.

EXECUTIVE SUMMARY

Fourth Quarter Highlights

•Net sales for the quarter was $2.3 billion, an increase of $124.3 million, or 6 percent. Net sales excluding the divestiture and foreign currency exchange increased 6 percent.

•Net income per diluted share was $3.64 in the quarter. Adjusted earnings per share was $2.77, an increase of 20 percent.

•Cash provided by operations for the quarter was $579.2 million compared to $393.9 million in the prior year.

•Free cash flow was $483.9 million for the quarter compared to $298.9 million in the prior year.

Fiscal Year 2026 Highlights

•Net sales for the fiscal year was $9.1 billion, an increase of 4 percent. Fiscal year 2026 net sales excluding the divestitures and foreign currency exchange increased 5 percent.

•Net loss per diluted share for the fiscal year was $1.30. Adjusted earnings per share was $9.15, a decrease of 10 percent.

•Cash provided by operations for the fiscal year was $1.5 billion compared to $1.2 billion in the prior year.

•Free cash flow for the fiscal year was $1.2 billion compared to $816.6 million in the prior year.

•Return of cash to shareholders through dividends was $464.7 million for the fiscal year.

•Total debt repayment for the fiscal year was $720.0 million.

Fiscal Year 2027 Outlook Highlights

•The Company provided its fiscal year 2027 outlook, with net sales expected to decrease 3.0 to 4.0 percent, adjusted earnings per share to range from $9.75 to $10.25, and free cash flow of approximately $1.0 billion.

CHIEF EXECUTIVE OFFICER REMARKS

"Our strong fourth quarter results demonstrate the continued strength of our focused strategy and portfolio enhancement efforts, which have transformed the Company over time,” said Mark Smucker, Chief Executive Officer, President and Chair of the Board. "We delivered positive net sales and earnings growth in the quarter, while navigating a dynamic external environment, and we are entering fiscal year 2027 with meaningful momentum."

"Looking ahead, our strategic priorities for the fiscal year are to — drive focused organic volume growth across our key platforms, improve profitability and accelerate earnings growth, and maintain a disciplined approach to capital deployment. Our strategy is working, and the strong foundation we have established gives us confidence in our ability to drive long-term growth and create shareholder value."

FOURTH QUARTER CONSOLIDATED RESULTS

Three Months Ended April 30,

20262025% Increase (Decrease)

(Dollars and shares in millions, except per share data)

Net sales$2,268.1 $2,143.8 6 %

Operating income (loss)$444.5 ($599.1)n/m

Adjusted operating income482.1 422.4 14 %

Net income (loss) per common share – assuming dilution$3.64 ($6.85)n/m

Adjusted earnings per share – assuming dilution2.77 2.31 20 %

Weighted-average shares outstanding – assuming dilution106.9 106.4 — %

Net Sales

Net sales increased $124.3 million, or 6 percent. Excluding $5.1 million of noncomparable net sales in the prior year related to the divestiture of certain Sweet Baked Snacks value brands and $3.1 million of favorable foreign currency exchange, net sales increased $126.3 million, or 6 percent.

The increase in comparable net sales reflects a 10 percentage point increase from net price realization, primarily driven by higher net pricing for coffee and sweet baked goods. Comparable net sales also reflects a 4 percentage point decrease from volume/mix, primarily driven by decreases for coffee and sweet baked goods, partially offset by an increase for Uncrustables® sandwiches.

Operating Income

Gross profit increased $38.8 million, or 5 percent. The increase primarily reflects higher net price realization, partially offset by higher costs, inclusive of commodity costs and tariffs, and unfavorable volume/mix. Operating income increased $1,043.6 million, primarily reflecting the lapping of noncash impairment charges related to the goodwill of the Sweet Baked Snacks reporting unit and Hostess® brand trademark in the prior year, the increase in gross profit, and a decrease in selling, distribution, and administrative ("SD&A") expenses.

Adjusted gross profit increased $31.1 million, or 4 percent. The difference between adjusted gross profit and generally accepted accounting principles ("GAAP") results reflects the exclusion of the change in net cumu

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 26, 2026

THE J. M. SMUCKER COMPANY

(Exact name of registrant as specified in charter)

Ohio001-0511134-0538550 (State or other jurisdiction of(Commission(IRS Employer incorporation or organization)file number)Identification No.)

One Strawberry Lane Orrville,Ohio44667-0280 (Address of principal executive offices)(Zip code)

Registrant’s telephone number, including area code: (330) 682-3000

Not Applicable (Former name or former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbol(s)Name of each exchange on which registered Common shares, no par valueSJMNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition.

On February 26, 2026, The J. M. Smucker Company (the “Company”) issued a press release announcing the Company’s financial results for the quarter ended January 31, 2026. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information in this Current Report on Form 8-K, including the exhibit attached hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits

Exhibit Number Exhibit Description

99.1 Press Release, dated February 26, 2026

104The cover page of this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE J. M. SMUCKER COMPANY

By:/s/ Tucker H. Marshall Tucker H. Marshall Chief Financial Officer | Executive Vice President, Frozen Handheld and Spreads and Sweet Baked Snacks

Date:    February 26, 2026

sjm-202511250000091419false00000914192025-11-252025-11-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): November 25, 2025

THE J. M. SMUCKER COMPANY

(Exact name of registrant as specified in charter)

Ohio001-0511134-0538550 (State or other jurisdiction of(Commission(IRS Employer incorporation or organization)file number)Identification No.)

One Strawberry Lane Orrville,Ohio44667-0280 (Address of principal executive offices)(Zip code)

Registrant’s telephone number, including area code: (330) 682-3000

Not Applicable (Former name or former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbol(s)Name of each exchange on which registered Common shares, no par valueSJMNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition.

On November 25, 2025, The J. M. Smucker Company (the “Company”) issued a press release announcing the Company’s financial results for the quarter ended October 31, 2025. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information in this Current Report on Form 8-K, including the exhibit attached hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits

Exhibit Number Exhibit Description

99.1 Press Release, dated November 25, 2025

104The cover page of this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE J. M. SMUCKER COMPANY

By:/s/ Tucker H. Marshall Tucker H. Marshall Chief Financial Officer

Date:    November 25, 2025