By Nicholas G. Miller
J.M. Smucker posted higher third-quarter sales, driven by price hikes in its coffee division, but lowered its sales growth forecast for the year due to a recent fire at one of its manufacturing facilities.
The company reported a loss of $724.2 million, or $6.79 a share, compared with a loss of $662.3 million, or $6.22 a share, the year prior. The loss reflected noncash impairment charges from its Sweet Baked Snacks segment.
Adjusted earnings were $2.38 a share. Analysts polled by FactSet had expected $2.27 a share.
Net sales rose 7% to $2.34 billion. Wall Street had expected $2.32 billion. Comparable sales rose 8%. The sales growth included a 10-percentage-point increase from net price realization, primarily due to higher prices for coffee.
Coffee prices surged last year after adverse weather in top coffee-producing countries hurt supply and President Trump's tariffs increased the cost to import coffee beans. The company raised prices last year in response to those increased costs. It was planning an additional price increase this winter, but after the U.S. excluded raw coffee from tariffs, the company cancelled that price increase.
The company narrowed its forecast for fiscal-year net sales growth to 3.5% to 4%, compared with its previous forecast of 3.5% to 4.5%. It reiterated its adjusted earnings guidance of $8.75 to $9.25 a share. Analysts see adjusted earnings of $8.99 a share.
The change in the net sales guidance was due to a recent fire at the company's Emporia, Kan.,manufacturing facility.
Write to Nicholas G. Miller at nicholas.miller@wsj.com
(END) Dow Jones Newswires
February 26, 2026 07:25 ET (12:25 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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