J.M. Smucker Widens Q3 Loss to $724M as Operating Deficit Deepens

The J. M. Smucker Company, a consumer packaged foods manufacturer, reported a net loss of $724.2 million for the three months ending January 31, 2026, compared to a net loss of $662.3 million in the same quarter a year earlier. The $61.9 million deterioration marks a 9% widening of the company's quarterly loss. Read more earnings reports.

Operating losses narrowed slightly to $548.4 million in Q3 from $594.0 million in the prior-year quarter, a 7.7% improvement. Gross profit declined 5.7% year-over-year to $827.8 million from $878.1 million, while cost of goods sold surged 15.6% to $1.51 billion from $1.31 billion.

For the nine months ending January 31, 2026, the company accumulated a net loss of $526.8 million, compared to a $501.8 million loss for the nine months ending January 31, 2025. The nine-month operating loss reached $84.3 million versus $74.8 million in the prior period.

Selling, general and administrative expenses for the quarter totaled $363.2 million, down 1.2% from $367.6 million a year ago. For the nine-month period, SG&A expenses fell to $1.14 billion from $1.15 billion.

Cash from operations improved 9.5% to $894.4 million for the nine months ending January 31, 2026, up from $816.5 million in the prior-year period. The company used $173.9 million in investing activities and $737.7 million in financing activities during the nine-month period.

The company's balance sheet showed total assets of $16.27 billion as of January 31, 2026, down from $17.56 billion at fiscal year-end April 30, 2025. Goodwill declined to $5.20 billion from $5.71 billion, while intangible assets fell to $5.74 billion from $6.35 billion.

Long-term debt stood at $6.84 billion as of January 31, 2026, down from $7.04 billion nine months earlier. Total stockholders' equity decreased to $5.24 billion from $6.08 billion, driven by the accumulation of losses that pushed retained earnings into a deficit of $372.8 million from a positive $501.8 million at the start of the fiscal year.

Diluted loss per share for Q3 reached $6.79 versus $6.22 in the prior-year quarter, based on 106.7 million weighted average shares outstanding. For the nine-month period, diluted loss per share was $4.94 compared to $4.72 a year earlier.

Q3 FY2026 Financial Summary

Nine-Month Period Results

Balance Sheet Highlights