Recent Updates — SFD

Smithfield Foods, Inc. entered into a Senior Unsecured Delayed Draw Term Loan Credit Agreement providing for aggregate commitments of $600 million. The facility is available until December 23, 2026, and matures three years after funding. Proceeds are expected to be used to redeem all outstanding 4.250% Senior Notes due 2027 at 100% of principal plus accrued interest on or after November 1, 2026. The agreement includes customary covenants limiting indebtedness and requiring a maximum debt-to-capitalization ratio of 50%. Smithfield Foods is a leading producer and processor of pork products in the United States.

Smithfield Foods updated its third quarter 2026 financial outlook on September 8, 2026, citing compression in fresh pork industry processing margins and lower hog prices. The company now expects a Fresh Pork adjusted operating loss of $70 million to $90 million and Hog Production adjusted operating profit of $25 million to $45 million. Packaged Meats fiscal 2026 adjusted operating income guidance remains unchanged at $1,075 million to $1,150 million. Total company third quarter adjusted operating income is projected between $115 million and $175 million. Smithfield Foods operates in the food processing industry, specializing in value-added packaged meats and fresh pork products.

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.