Smithfield Cuts 3Q Outlook: Fresh Pork Loss of $70M–$90M, Total Adjusted Operating Income $115M–$175M
SFD is trading near its 52-week low of $21.08 (0.5% below the low).
Summary
Smithfield cut its third-quarter outlook, guiding Fresh Pork to a $70M–$90M adjusted operating loss and total company adjusted operating income to $115M–$175M, while reaffirming Packaged Meats full-year guidance.
Key Events · Earnings and Guidance · SFD
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3Q Total Company Guidance Cut
Smithfield now expects third-quarter adjusted operating income of $115 million to $175 million, down sharply from the $623 million first-half run-rate.
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Fresh Pork Segment Loss
Fresh Pork is guided to a third-quarter adjusted operating loss of $70 million to $90 million, driven by industry spread compression and a declining USDA pork cutout.
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Hog Production Profit Reduced
Hog Production third-quarter adjusted operating profit is now expected at $25 million to $45 million, reflecting lower market hog prices.
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Packaged Meats Reaffirmed
Full-year fiscal 2026 Packaged Meats adjusted operating income guidance is unchanged at $1,075 million to $1,150 million, supported by branded share gains and distribution expansion.
Analysis · SFD · Manufacturing
The third-quarter update from Smithfield reveals a sharp deterioration in its commodity-exposed segments. Fresh Pork is now expected to post an adjusted operating loss of $70 million to $90 million, while Hog Production profit is guided down to $25 million to $45 million. Total company adjusted operating income of $115 million to $175 million is roughly a third of the $623 million first-half run-rate. Packaged Meats — the core branded business — is reaffirmed at $1,075 million to $1,150 million for the full year, which is the one stabilizing element. The stock is trading near its 52-week low, and this guidance cut lands on top of the August 11 guidance reduction, compounding the negative sentiment.
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At the time of this filing, SFD was trading at $20.98 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $8.7B. The 52-week trading range was $21.08 to $29.81. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.