J.M. Smucker’s Revenue by Segment (2017-2023)

This statistic highlights J.M. Smucker’s Revenue by Segment, split across U.S. Retail Pet Foods, U.S. Retail Consumer Foods, U.S. Retail Coffee, and International and Away From Home, reported on a quarterly basis from 2017 onwards.

J.M. Smucker’s Revenue by Segment

J.M. Smucker’s total revenue increased from $2.034 billion earned in Q2 2021 to $2.050 billion earned in Q2 2022, marking a 0.78% growth on a year-on-year basis. It also grew by 10.33% on a quarter-on-quarter basis, from $1.858 billion in Q1 2022 to $2.050 billion in Q2 2022.

J.M. Smucker’s Revenue can be further bifurcated into the following segments:

(All figures are in billions, except percentages)

The company’s revenue comes from two main segments, the U.S. Retail Segment and the International segment. In the U.S. retail market segments, its products are largely sold through an arrangement of direct sales and brokers to food vendors, club stores, discount and dollar shops, food wholesalers, online sellers, pet specialty stores, natural foods stores, and distributors, drug supplies, military commissaries, and mass merchandisers. 

U.S. Retail Pet Foods

The U.S. Retail Pet Foods segment does not experience substantial seasonality, and does not have a significant influence of seasonality on the overall Company. The majority of J.M. Smucker’s Revenue is generated through the U.S. Retail Pet Foods segment, accounting for 34.2% of the company’s revenue in Q2 2021, amounting to $0.702 billion. It has declined by 0.98% yearly, compared to $0.709 billion earned in Q2 2021. However, it grew by 8.33% quarterly, when compared to $0.648 billion earned in Q1 2022.

U.S. Retail Consumer Foods

This segment has historically been recurrent during the Fall Bake and Holiday period, ensuring higher sales and profits. However, the U.S. Retail Consumer Foods segment has witnessed lower seasonality during the Crisco and U.S. Baking business divestitures. J.M. Smucker’s Revenue from the U.S. Retail Consumer Foods segment decreased by 7.35% on a yearly basis, from $0.479 billion earned in Q2 2021 to $0.441 billion earned in Q2 2022. However, on a quarterly basis, it grew by 1.15% compared to $0.436 billion earned in Q1 2022. This segment contributes 21.5% to the company’s total revenue.

U.S. Retail Coffee

Just like the U.S. Retail Consumer Foods, this segment also is subject to seasonality, generating higher revenue during the holiday season and the Fall Bake. In Q2 2022, J.M. Smucker’s U.S. Retail Coffee stood at $0.645 billion, accounting for 31.5% of the company’s total revenue. It increased by 8.4% yearly, compared to $0.595 billion earned in Q2 2021 and by 15.80% quarterly, compared to $0.543 billion earned in Q1 2022. 

International and Away From Home

In International and Away From Home, the company’s products are supplied nationally and in foreign countries through retail networks and foodservice suppliers and operators. This segment represents a mixture of all other operating segments that are not independently reportable. As a result of governance changes, these operating segments are being operated and monitored separately and no longer denote a reportable segment for segment monitoring purposes.

J.M. Smucker’s Revenue from the International and Away From Home segment increased from $0.251 billion earned in Q2 2021 to $0.262 billion earned in Q2 2022, marking a rise of 4.3% on a year-on-year basis. It also grew by 13.4% quarterly compared to $0.231 billion earned in Q1 2022. This segment contributes 12.8% of the total revenue.

About J.M. Smucker Co.

J.M. Smucker Company often mentioned as Smucker’s, was created in 1897 and incorporated in Ohio in 1921. It operates primarily in one industry, the manufacturing, and promotion of branded food and beverage products on an international basis, although the mainstream sales are from the U.S. The company’s setups outside the U.S. are primarily in Canada, although products are distributed to other nations as well. Net sales outside the U.S., subject to foreign currency conversion, reckoned approximately 5 per cent of consolidated net sales for 2021. Its branded food and beverage goods include a strong assortment of trusted, iconic, market-leading brands that are retailed to consumers through retail stores in North America. J.M. Smucker’s stock goes by ‘SJM’ symbol and is listed on New York Stock Exchange (NYSE).

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