Earnings ·
Smithfield Foods reported fiscal second quarter net sales of $3.7 billion, a 2.3% decline from the prior year period…
SFDSmithfield Foods Inc
Smithfield Foods reported fiscal second quarter net sales of $3.7 billion, a 2.3% decline from the prior year period, driven by non-recurring hog production joint venture sales and an earlier Easter holiday. Operating profit rose 11.6% to $290 million, with adjusted operating profit reaching a record $300 million. Net income increased 26.6% to $238 million, yielding diluted earnings of $0.60 per share. The company updated its full-year fiscal 2026 outlook, lowering total adjusted operating profit guidance to between $1.225 billion and $1.375 billion due to macroeconomic headwinds. Smithfield Foods is an American food company and industry leader in value-added packaged meats and fresh pork.