J.M. Smucker posts weaker pet food sales
Lower demand for dog snacks and contract manufacturing weighed on the results, but the company raised its full-year outlook.
Ohio-headquartered F&B manufacturer J. M. Smucker’s US retail pet food segment reported $368 million (€315.6M) in net sales for the first quarter of FY2026, ending 31 July 2025. This represents an 8% year-over-year (YoY) drop.
Segment profit dropped 12% YoY to $101.3 million (€86.9M), which was driven by unfavorable volume/mix and higher costs, partially offset by lower marketing spend.
Volume/mix decreased net sales by 8 percentage points, primarily driven by a decline in dog snacks and lower contract manufacturing sales resulting from the divestiture of pet food brands.
Meanwhile, segment margin profit stood at 27.5%, down 130 basis points.
Guidance
For the full year 2026, J. M. Smucker expects net sales to increase 3% to 5% and comparable net sales to rise approximately 4.5% to 6.5%.
The forecast reflects, among other things, a decline of approximately $38 million (€32.6M) in contract manufacturing sales related to the divested pet food brands, as the contract manufacturing agreement concluded at the end of FY2025.
“Due to the better-than-expected first quarter results and sustained momentum for our portfolio of leading brands, we are raising our net sales expectations for the fiscal year,” says Mark Smucker, the company’s CEO and Chairman of the Board.
“We remain focused on investing in our key growth platforms, which will enable us to deliver long-term growth and increase shareholder value,” he concludes.
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