Smithfield Cuts Full-Year Sales Forecast as Q3 Revenue Misses Estimates
SFD is trading near its 52-week low of $18.09 (3.3% below the low).
Summary
Smithfield now expects full-year sales down low-single-digits from fiscal 2025, a downgrade from its prior roughly flat outlook, citing softer fresh pork and hog commodity markets. Third-quarter sales fell 8.3% to $3.44 billion and missed the $3.65 billion Wall Street model, while profit dropped to $91 million, or 23 cents a share, from $252 million, or 63 cents, a year earlier. Adjusted earnings were 26 cents a share. Packaged meats held up — segment sales of $1.98 billion were down 5.2%, but operating profit rose to $230 million from $226 million, and management says the segment stays on track for a fifth straight year above $1 billion in operating profit. Shares fell 5.6% to $17.30 premarket, extending pressure on a stock already trading near its 52-week low. This follows the September 8th 8-K guiding third-quarter adjusted operating income to $115M-$175M and Fresh Pork to a $70M-$90M loss — the upstream commodity squeeze CEO Shane Smith says will persist into the fourth quarter.
At the time of this announcement, SFD was trading at $17.50 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $18.09 to $29.81. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.