The J. M. Smucker Company

jmsmucker.com

What Do They Do?

Makes and sells branded food and beverages, including coffee, frozen handheld foods, and pet foods, to retail customers and foodservice distributors and operators.

How Do They Make Money?

The company sells food and beverage products to retailers, online retailers, and foodservice distributors and operators; customers typically receive them on delivery or pickup and pay on a short-term basis.

revenue

Segment	Share	How money arrives
U.S. Retail Coffee Sold outright	37% FY2023: 32%	Sold outright
U.S. Retail Frozen Handheld and Spreads Sold outright	20% FY2023: 19%	Sold outright
U.S. Retail Pet Foods Sold outright	18% FY2023: 36%	Sold outright
Sweet Baked Snacks Sold outright	11% FY2023: 0.0%	Sold outright
Away From Home Sold outright	9.7%	Sold outright
Other Sold outright	4.9% FY2023: 13%	Sold outright

Who Are Their Customers?

Retailers, online sellers, and pet stores are reached through direct sales and brokers. Foodservice distributors and operators serve restaurants, schools, healthcare sites, offices, and lodging businesses.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2024: 33% from one customer

Do Revenues Turn Into Profits?

Not on paper. It lost $138.7M in FY2026, but brought in more cash than it spent: $1.2B of free cash flow.

Operating income, FY2026

4% of revenue

▲ Now profitable vs FY2025 (−$673.9M, −8%)

Net income, FY2026

−2% of revenue

▼ −89% (Loss) vs FY2025 (−$1.2B, −14%)

Free cash flow, FY2026

13% of revenue

▲ +42% vs FY2025 ($816.6M, 9%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q1 FY2027, the three months to Jul 31, 2026

Revenue: ▲ +5%; vs $2.1B in Q1 FY2026
Net income: ▲ Now profitable; vs −$43.9M in Q1 FY2026

U.S. Retail Coffee share of revenue vs 33.9% in Q1 FY2026

Growing. Revenue grew 13% in 4 years, from $8B in FY2022 to $9.1B in FY2026, about 3% a year.

Sweet baked goods The business added Hostess-branded sweet baked goods through its Hostess Brands acquisition; the older principal-products list names other categories.

Revenue over time

U.S. Retail Coffee U.S. Retail Frozen Handheld and Spreads U.S. Retail Pet Foods Sweet Baked Snacks Away From Home Other

$10B$5B$0

FY2022 FY2023 FY2024 FY2025 FY2026

Who Do They Compete With?

Competes with F. Gaviña & Sons and Hormel Foods

Comments