Filing Flows › J M Smucker (SJM) › Q2 FY26
J M Smucker (SJM) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 25, 2025
J M Smucker (SJM) reported revenue of $2.3B for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and +10% from the quarter before. Operating margin was 18.0%, net earnings $241M (10.4% of revenue).
J M Smucker, Q2 FY26: revenue $2.3B (+3% year over year), operating margin 18.0%, net earnings $241M, operating cash flow $346M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | +10% | +3% |
| Gross profit | $870M | +83% | -2% |
| Operating profit | $418M | +818% | +147% |
| Net earnings | $241M | — | — |
| Operating cash flow | $346M | — | -14% |
| Free cash flow | $280M | — | -12% |
What changed
Revenue was $2.3B in Q2 FY26, up 3% year over year and up 10% from the previous quarter. U.S. Retail Coffee was the largest line at 36% of revenue. U.S. Retail Coffee added $0.14B year over year (up 21%), 246% of the total change. Sweet Baked Snacks declined 19%.
Gross margin was 37.3%, down 1.7 points from a year earlier. Operating profit was $0.42B, a 18.0% margin (up 10.5 points year over year). Of the extra revenue versus a year earlier, 422% reached operating profit, above the 7% margin then. Operating expenses fell 37% while revenue rose 3%. Net earnings were $0.24B. The effective tax rate was 24.2%.
Operating cash flow was $0.35B (down 14% year over year), 144% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.05B. Capital expenditures of $0.07B left free cash flow of $0.28B.
Questions
What was J M Smucker's revenue in the second quarter fiscal 2026?
J M Smucker (SJM) reported revenue of $2.3B for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and +10% from the quarter before.
Was J M Smucker profitable in the second quarter fiscal 2026?
Operating profit was $418M (18.0% of revenue) and net earnings $241M.
Source: J M Smucker 10-Q on SEC EDGAR.