Smithfield Foods Q1 2026 Sales Rise to $3.8 Billion

By Chris Stiles • Tuesday, April 28 11:22 • Permanent Link

Smithfield Foods reported first-quarter fiscal 2026 net sales of $3.8 billion, up 0.8% from $3.77 billion a year earlier, while operating profit rose 3.4% to $333 million from $321 million.

Packaged meats was the biggest driver of the quarter. Segment sales climbed 6.2% to $2.149 billion from $2.024 billion, and operating profit increased 3.6% to $275 million from $266 million. The segment’s operating margin, however, narrowed to 12.8% from 13.1%.

Fresh pork sales fell 1.1% to $2.012 billion from $2.033 billion, and operating profit slipped to $78 million from $82 million. Hog production sales dropped 17.5% to $769 million from $932 million, though operating profit rose to $4 million from $1 million.

On a consolidated basis, operating margin improved to 8.7% from 8.5%. Adjusted operating profit rose 4.0% to $339 million from $326 million, and adjusted operating margin increased to 8.9% from 8.6%.

Earnings per share also moved higher. Diluted earnings were $0.62 per share, up from $0.57 a year ago, while adjusted diluted earnings were $0.64 per share, compared with $0.58.

Smithfield ended the quarter with $3.683 billion of available liquidity, including $1.386 billion in cash and cash equivalents and $2.298 billion available under committed credit facilities. Net debt to adjusted EBITDA was 0.4x on a trailing 12-month basis.

The board declared a quarterly cash dividend of $0.3125 per share, and the company said it expects the remaining quarterly dividends in fiscal 2026 to remain unchanged, implying an annual rate of $1.25 per share.

For fiscal 2026, Smithfield reaffirmed its outlook for total company sales to rise in the low single digits, with adjusted operating profit projected at $1.325 billion to $1.475 billion. By segment, it guided packaged meats to $1.1 billion to $1.2 billion, fresh pork to $200 million to $260 million, and hog production to $150 million to $200 million. Capital spending is expected to be $350 million to $450 million. Today the company's shares have moved 0.24% to a price of $29.35. If you want to know more, read the company's complete 8-K report here.

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