SJM — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-26

• During the first three months of 2027, we continued to operate in a dynamic and evolving external environment, including geopolitical, macroeconomic, and policy developments, as well as changing consumer behavior, which may continue to affect our business during the remainder of 2027. Despite these …

• To support continued growth and navigate these evolving market conditions, we remain focused on executing our company-wide transformation initiative, which is designed to translate our continuous improvement mindset into sustainable productivity gains. These efforts are intended to expand our profit…

• We continue to closely monitor ongoing geopolitical conflicts and evolving international trade and regulatory conditions, including the potential impact of tariffs and any other policy actions. Further escalation of these developments could significantly disrupt economic activity, global supply chai…

• Given these uncertainties, the impact of inflation, tariffs, supply chain disruptions, and labor availability and attrition on our business, results of operations, financial condition, and liquidity could be difficult to predict. We will continue to monitor these factors as conditions evolve.

• Net income (loss) per common share – assuming dilution$3.03 $(0.41)n/m

Text removed vs the prior filing · source: 10-Q · 2026-02-26

• On March 3, 2025, we sold certain Sweet Baked Snacks value brands to JTM. The transaction included certain trademarks and licenses, a manufacturing facility in Chicago, Illinois, and approximately 400 employees who supported the business. Under our ownership, these Sweet Baked Snacks value brands ge…

• On December 2, 2024, we sold the Voortman business to Second Nature. The transaction included products sold under the Voortman brand, inclusive of certain trademarks, a leased manufacturing facility in Burlington, Ontario, and approximately 300 employees who supported the business. Under our ownersh…

• During the first nine months of 2026, we continued to experience input cost inflation and a dynamic macroeconomic environment, inclusive of tariffs, regulatory and policy changes, and changes in consumer behaviors, including health and wellness trends, which we anticipate will persist through the re…

• In addition, it is possible significant disruptions in our supply chain could occur if certain geopolitical events continue to impact markets around the world, including the impact of potential shipping delays due to supply and demand imbalances, as well as labor shortages and tariffs. We also conti…

• Although we do not have any operations in Russia, Ukraine, Israel, Palestine, China, or Taiwan, we continue to monitor these environments, among others, for any significant escalation or expansion of economic or supply chain disruptions, including broader inflationary costs and the impact of tariffs…

Text added vs the prior filing · source: 10-Q · 2026-08-26

• In measuring interest rate risk by the amount of net change in the fair value of our financial liabilities, a hypothetical 100 basis-point decrease in interest rates at July 31, 2026, would increase the fair value of our long-term debt by $485.8.

• •our ability to maintain operational stability and successfully achieve the benefits associated with ongoing optimization initiatives of the Sweet Baked Snacks business, including the risk that the business may not achieve anticipated operating or financial results;

Text removed vs the prior filing · source: 10-Q · 2026-02-26

• In November 2024, we entered into reverse treasury locks to manage our exposure to interest rate fluctuations related to the tender offers. In December 2024, concurrent with the pricing of the tender offers, we settled the reverse treasury locks and realized a net loss of $4.5 during the three month…

• In measuring interest rate risk by the amount of net change in the fair value of our financial liabilities, a hypothetical 100 basis-point decrease in interest rates at January 31, 2026, would increase the fair value of our long-term debt by $524.7.

• statements and from our historical results and experience. These risks and uncertainties include, but are not limited to, the following:

• •our ability to successfully integrate Hostess Brands’ operations and employees and to implement plans and achieve financial forecasts with respect to the Hostess Brands’ business;

• •disruption from the acquisition of Hostess Brands by diverting the attention of our management and making it more difficult to maintain business and operational relationships;

Text removed vs the prior filing · source: 10-Q · 2026-02-26

• The risk factor described below updates the risk factors disclosed in "Part 1, Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended April 30, 2025, to include information on an interim impairment analysis, which was performed during the third quarter of 2026.

• A material impairment in the carrying value of acquired goodwill or other intangible assets could negatively affect our consolidated operating results and net worth.

• A significant portion of our assets is composed of goodwill and other intangible assets, the majority of which are not amortized but are reviewed for impairment at least annually on February 1, and more often if indicators of impairment exist. At January 31, 2026, the carrying value of goodwill and …

• As of January 31, 2026, goodwill and indefinite-lived intangible assets totaled $5.2 billion and $2.6 billion, respectively. The carrying values of the goodwill and indefinite-lived intangible assets were $2.1 billion and $1.3 billion, respectively, within the U.S. Retail Coffee segment and $1.6 bil…

• During the third quarter of 2026, both net sales and segment profit continued to underperform as compared to plan for the Sweet Baked Snacks segment, reflecting sustained challenges in the sweet baked goods category, ongoing executional and operating challenges, and the impact of a dynamic macroecon…

Text removed vs the prior filing · source: 10-Q · 2026-02-26

• Subsequent to the declaration of dividends on January 16, 2026, we entered into an accumulated deficit position, and as a result, cash dividends will be paid from capital surplus on March 2, 2026.