The J.M. Smucker Co. (NYSE:SJM) reported third-quarter fiscal 2026 results on Thursday, with shares trading higher following the release, as the company delivered solid operational performance despite ongoing cost pressures.
Adjusted earnings and revenue exceeded analyst expectations. Adjusted earnings per share $2.38, beating the $2.27 estimate. Net sales increased 7% to $2.339 billion from $2.186 billion a year earlier, topping the $2.322 billion estimate.
Net sales excluding divestitures and foreign currency exchange rose 8%.
Operating loss improved 8% to $548.4 million from $594.0 million a year ago. Adjusted operating income decreased 7% to $431.6 million, and adjusted operating margin fell to 18.4% from 21.2%.
Gross margin declined to 35.4% from 40.2%, reflecting higher costs, inclusive of commodity costs and tariffs, and unfavorable volume/mix.
“Our business continues to deliver strong results in a dynamic external environment. In the third quarter, net sales and adjusted earnings per share exceeded our expectations, reflecting the strength of our portfolio of leading brands, along with our disciplined cost …