Smithfield Foods Reports Record Third Quarter Results

Smithfield Foods, Inc., an American food company and an industry leader in value-added packaged meats and fresh pork, has released its financial results for the fiscal 2025 third quarter ended September 28, 2025. The company reported significant growth in key financial metrics, reflecting strong operational performance despite challenging market conditions.

Financial Highlights

For the third quarter of fiscal 2025, Smithfield Foods reported net sales of $3.7 billion, marking a 12.4% increase from the same period in 2024. The company's operating profit stood at $310 million, with an operating margin of 8.3%. Diluted earnings per share (EPS) from continuing operations attributable to Smithfield were $0.63, while adjusted diluted EPS was $0.58.

Over the first nine months of fiscal 2025, net sales reached $11.3 billion, up 10.9% from the previous year. Operating profit for this period was $892 million, with an adjusted operating profit of $934 million. The operating margin was 7.9%, and the adjusted operating margin was 8.3%. Diluted EPS from continuing operations for the nine months was $1.68, with an adjusted diluted EPS of $1.72.

Business and Operational Highlights

The Packaged Meats segment reported an operating profit of $226 million for the third quarter, with an operating profit margin of 10.8%. The Fresh Pork segment saw a 12.0% increase in sales, while the Hog Production segment experienced a 10.1% rise in sales. The company also highlighted the benefits of vertical integration, which helped offset higher raw material costs.

Strategic Initiatives and Corporate Developments

Smithfield Foods announced the payment of dividends amounting to $0.25 per share on April 22, May 29, and August 28, 2025. The company anticipates maintaining this dividend rate for the remainder of the fiscal year, resulting in an annual dividend rate of $1.00 per share. Additionally, Smithfield Foods reported a strong liquidity position with $3,069 million in available liquidity as of September 28, 2025.

Management's Perspective

Smithfield President and CEO Shane Smith expressed satisfaction with the company's performance, noting the consistent and disciplined execution of strategies that drove sales growth and record third-quarter operating profit. Smith acknowledged the challenges posed by higher raw material costs and cautious consumer spending but highlighted the strong performance of the Packaged Meats segment and the benefits of vertical integration.

Future Outlook

For fiscal year 2025, Smithfield Foods reaffirmed its outlook for total company sales to increase in the low-to-mid-single-digit percent range compared to fiscal year 2024. The company updated its adjusted operating profit projections for the Packaged Meats segment to between $1,060 million and $1,110 million, and for the Fresh Pork segment to between $150 million and $200 million. The Hog Production segment's adjusted operating profit is expected to be between $125 million and $150 million. Overall, the total company adjusted operating profit is projected to be between $1,225 million and $1,325 million.

Original SEC Filing: SMITHFIELD FOODS INC [ SFD ] - 8-K - Oct. 28, 2025