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Smithfield Foods (SFD) investor relations material

Smithfield Foods Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary12 Aug, 2025

Executive summary

  • Achieved record Q2 adjusted operating profit of $298M, up 20% year-over-year, with margin rising to 7.9%, led by Packaged Meats and improved Hog Production profitability.

  • Q2 net sales rose 11% to $3.8B, with all segments contributing to growth despite higher costs and litigation accruals.

  • Adjusted net income from continuing operations was $217M, up from $192M in Q2 2024, reflecting normalization for litigation and insurance recoveries.

  • Completed IPO in January 2025, raising $236M in net proceeds and listing on Nasdaq.

  • Returned value to shareholders with quarterly dividends and an anticipated annual dividend of $1.00 per share.

Financial highlights

  • Q2 consolidated sales reached $3.8B, up 11% year-over-year, with growth across all segments.

  • Adjusted operating profit was $298M, with a 7.9% margin; adjusted EPS was $0.55, up from $0.51 in Q2 2024.

  • Adjusted EBITDA for Q2 was $381M, margin 10.1%, up from 9.7% year-over-year.

  • Net debt to adjusted EBITDA was 0.7x at quarter-end; liquidity at $3.2B, including $928M in cash.

  • Capital expenditures for H1 were $158M, with FY25 capex projected at $400M–$500M, focused on growth and automation.

Outlook and guidance

  • Raised FY25 adjusted operating profit outlook to $1.15B–$1.35B, with Packaged Meats at $1.05B–$1.15B, Fresh Pork at $150M–$250M, and Hog Production at $0–$100M.

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

  • Capital expenditures reaffirmed at $400M–$500M; effective tax rate expected at 23%–25%.

  • Expect to pay $1/share in annual dividends, subject to board discretion.

  • Management targets further optimization of hog production, aiming for 11.5M head in 2025.

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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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