Smithfield Foods Q3 FY2026 Results and Outlook

Smithfield Foods, Inc. (NASDAQ:SFD) announced its third‑quarter fiscal 2026 results, reporting adjusted earnings per share of $0.26 and total revenue of $3.4 billion, which represents an 8.3% decline year‑over‑year from $3.7 billion in the comparable prior period. The release prompted a 2.29% decline in the company’s share price during pre‑market trading.

The Packaged Meats segment delivered an operating profit of $230 million, a modest increase from $226 million in the prior year quarter, and remains on track for its fifth consecutive year of generating more than $1 billion in operating profit. In contrast, the Fresh Pork segment recorded an operating loss of $89 million, reversing a $10 million profit reported in the same quarter last year. Hog Production’s operating profit fell sharply to $34 million from $89 million, reflecting pressure from softer pork commodity markets.

President and CEO Shane Smith stated, "We reported third quarter adjusted operating profit within the range we provided in September, led by strong results in our cornerstone Packaged Meats segment, with our upstream segments challenged by lower pork commodity markets."

The company completed its acquisition of Nathan’s Famous on October 26 2026, expanding its packaged‑meats brand portfolio. Following the acquisition, Smithfield updated its fiscal 2026 outlook, projecting total adjusted operating profit between $900 million and $1 billion, with a midpoint of $950 million that incorporates the challenging environment in its upstream businesses.

Segment‑level forecasts for fiscal 2026 were also provided: Packaged Meats adjusted operating profit is expected to range from $1,090 million to $1,140 million; Fresh Pork adjusted operating results are projected to lie between a $50 million loss and breakeven; and Hog Production adjusted operating results are anticipated to fall between a $25 million loss and a $25 million profit. Net cash flows from operating activities for the first nine months amounted to $365 million, an increase of $244 million versus the same period last year.

The market reaction, a roughly 2% drop in Smithfield’s stock, was attributed to the softer commodity market outlook affecting the company’s upstream pork segments.