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Smithfield Foods (SFD) investor relations material

Smithfield Foods Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary28 Oct, 2025

Executive summary

  • Achieved record third-quarter adjusted operating profit of $310 million, up 8.5% year over year, with an 8.3% margin, and net sales up 12.4% to $3.75 billion.

  • Packaged Meats segment delivered its second-highest third-quarter profit on record, with operating profit of $226 million and a 10.8% margin, despite higher raw material costs.

  • Hog Production segment's adjusted operating profit more than doubled year over year to $89 million, benefiting from higher hog prices and operational improvements.

  • Net income from continuing operations for Q3 was $252 million, up 20.5% year over year, with EPS from continuing operations at $0.63.

  • Raised the midpoint and tightened the range of fiscal 2025 adjusted operating profit outlook, reflecting strong execution and strategy adherence.

Financial highlights

  • Adjusted net income from continuing operations was $230 million, up 13.7% year over year; adjusted EPS rose 9.4% to $0.58 per share.

  • Adjusted EBITDA for Q3 was $398 million (10.6% margin); net debt to adjusted EBITDA ratio at 0.8x.

  • Gross profit for Q3 was $479 million, with a gross margin of 12.8%.

  • Cash and equivalents at quarter-end were $773 million, with total liquidity of $3.1 billion.

  • Annual dividend expected at $1 per share, with $0.75 paid year to date.

Outlook and guidance

  • Fiscal 2025 adjusted operating profit outlook raised to $1.225–$1.325 billion, with segment guidance: Packaged Meats $1.06–$1.11 billion, Fresh Pork $150–$200 million, Hog Production $125–$150 million.

  • Total company sales expected to increase low to mid-single digits year over year, excluding certain Hog Production sales.

  • Capital expenditures projected at $350–$400 million; effective tax rate expected at 23–25%.

  • Annual dividend rate for 2025 anticipated at $1.00 per share.

  • Management expects continued growth in Packaged Meats and ongoing cost optimization in Hog Production.

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Frequently asked questions

Smithfield Foods Inc is a U.S.-based food company primarily engaged in the production and processing of pork products. The company operates across the entire pork supply chain, including hog farming, meat processing, packaging, and distribution. Smithfield offers a wide range of fresh and packaged meat products under various brand names, serving retail, foodservice, and industrial customers. It also engages in sustainability initiatives related to animal welfare, environmental management, and food safety. Smithfield Foods Inc is headquartered in Smithfield, Virginia.

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