The J.M. Smucker Co.’s pet food business delivered mixed results in the third quarter of fiscal year 2026, with gains by cat food and dog treat brands offset by declines tied to dog snack performance and comparisons with discontinued contract manufacturing.
For the quarter ended Jan. 31, Smucker reported U.S. Retail Pet Foods net sales of US$417.1 million, down 1% from US$423.0 million in the prior-year period. Segment profit increased to US$121.9 million, up 4% year over year, according to the company’s fiscal 2026 third-quarter earnings supplement.
Company executives attributed the slight sales decline primarily to lower volume in dog snacks and the absence of contract manufacturing sales related to pet food brands the company divested previously. However, major brands Meow Mix and Milk-Bone performed well.
“These brands represent durable growth platforms supported by consumer‑led innovation, strong brand equity and enterprisewide marketing capabilities,” Mark Smucker, chief executive officer, president and chair of the board, said in prepared remarks. “Importantly, they are driving growth today while strengthening our long‑term value creation potential.”
Pet food segment net sales
US$417.1 million in fiscal 2026 Q3
US$423.0 million in fiscal 2025 Q3
Year-over-year change: –1%
Pet food segment profit
$121.9 million in fiscal 2026 Q3
$116.8 million in fiscal 2025 Q3
Year-over-year change: +4%
Smucker Meow Mix cat food drives growth in Q3 FY26
Smucker reported strong momentum in its cat food portfolio, led by the Meow Mix brand.
In cat food, the Meow Mix brand continued to see strong growth with both net sales and volume/mix increases in the quarter, Smucker said.
The brand also outperformed the dry cat food category in recent measured retail periods and expanded household penetration, supported by distribution gains, innovation and marketing investments. One driver has been the Meow Mix Gravy Bursts product line, which combines dry kibble with gravy-filled pieces designed to deliver a wet-food-like flavor experience. According to the company, the product was the top dry cat food innovation launch in the category in 2025. Smucker said it is expanding the platform with additional varieties, including salmon-flavored dry cat food and chicken-flavored treats.
Milk-Bone continues steady gains, Pup-Peroni drags
The Milk-Bone dog treat brand also contributed to growth in the segment. Milk-Bone net sales increased 3% in the quarter, supported by gains in both volume and household penetration.
Smucker said growth has been driven by efforts to strengthen the brand’s role in everyday treating and by new product introductions targeting premium and functional treat segments. Packaging updates highlighting trends have also been implemented.
“We are strengthening our core business value proposition with updated packaging to highlight protein and other functional benefits, while expanding premium offerings through the Milk-Bone Peanut Buttery Bites platform,” Smucker said. "This collaboration between the #1 dog snacks brand and the #1 peanut butter brand has been highly successful.”
Smucker highlighted the Milk-Bone Peanut Buttery Bites line, developed through a collaboration between the Milk-Bone and Jif brands. He said the product was the leading dog snack launch in the past four years and plans to extend the platform with Peanut Buttery Cups.
Despite gains for Milk-Bone, the broader dog snacks category weighed on the segment’s overall performance. The company reported declines for the Pup-Peroni brand during the quarter.
Volume/mix declined 2 percentage points for the pet segment overall, reflecting both lower dog snack volumes and the comparison with contract manufacturing sales tied to divested pet brands in the prior year.
Price realization was neutral for the overall segment, as higher pricing in cat food was largely offset by lower net pricing in dog snacks.
